7 “Given the UK’s recent drive to turn the UK into a ‘science and technology superpower by 2030’, a partnership between the two nations is of no great surprise,” says Alexander Gold, partner at Charles Russell Speechlys, and head of the firm’s Israel Desk. “The relationship between the UK and Israel today is perhaps the strongest it has ever been. The agreement is a recognition by both nations of the strengths that they possess in science and technology, and that information and technology sharing between the two countries will be of mutual benefit. It should lead to greater support for science and technology businesses in both countries (including start-ups) and greater ability to fund leading science and technology projects. That is good news for all involved.” This deepening of commercial ties has become especially significant considering the domestic concerns of both nations. Once plastered all over the business press, Brexit remains a concern but how much? White & Case’s Turgel, states: “We have not seen the flow reduce post Brexit in our business. In fact, some trade has increased due to additional flexibility.” “Not in our experience,” says Gold of Charles Russell Speechlys. “Years post-Brexit, the UK remains Israel’s third largest trading partner. £2.7 billion worth of British exports went to Israel in 2020. And, given this year’s news of this new economic and technological partnership and the two nations continuing to develop closer ties, the relationship still looks extremely strong. It’s been our experience on the ground too – overwhelmingly, we see enthusiasm on both sides for doing business and engaging in new projects.” Bird & Bird's Meisels added: "Overall I would say that Brexit has not put off Israeli entrepreneurs or start-ups. London remains the top destination in Europe for tech investment and one of the best places in the world to scale a tech business. The UK government provides a range of support for entrepreneurship and start-ups including financial assistance such as grants, loans and tax efficient R&D and investment schemes. Furthermore, the UK remains a hotbed for incubators and accelerators that support and promote innovation and business growth.” How much is Brexit still a concern? Not so much…
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