The highest rate of startups per 1000 citizens, the second most innovative economic system in the world, huge funds for research and development, a strong hi-tech branch… No, it’s not the description of Silicon Valley but of the Israeli economic system! And soon, thanks to Polish National Development Bank (BGK) Poland will have a chance to benefit and learn from this Middle-Eastern country.

BGK is one of the initiators of Polish-Israeli Co-Innovation Program, an agreement between the bank, Start-Up Nation Central, a non-governmental organisation specialising in the development of Israeli innovation system, and CREATORS IDEAtion Lab, an innovation lab bringing together corporations and young businesses. On June 19th, a confirmation of cooperation between the two countries was signed in Tel Aviv.

What can we learn from the Israeli? Certainly, cooperation between institutions from different sectors – finance, government, corporations and startups. In Poland, unlike in Israel, those tend to work separately. We’re losing the potential that exchanging knowledge, joining forces, and coordinating areas of influence can give us. This is particularly relevant in fintech, as Polish companies succeed internationally, and the national fintech market is well-developed. It’s important to look for good practices and inspirations for further actions in countries like Israel, the leader of innovations and an active contributor to the fintech industry.

BGK’s mission is to back Polish companies up, especially in the area of innovation, as it’s one of the main growth factors pointed out in the Responsible Development Strategy. It also helps to financially implement innovative solutions, including those from fintech area.

BGK hopes that taking part in the Polish-Israeli Co-Innovation Program will affect the way their clients see them. They want Polish companies to know that the bank is open to new projects, enterprises and investments in the area of innovation. “We are interested in initiating contacts between business and public sector,” said BGK board member Wojciech Hann. “We believe that synergy between Polish and Israeli ideas, experiences and budget will create a new quality on world’s market.”

Impact fintech’18 is just around the corner but it’s not too late to get your pass! See you in Łódź on November 28th–29th!

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