Merage, Technion join forces in new academic venture

The Merage Foundations and the Israeli Institute for Technology have announced the forming of the Institute for International Business in Tel Aviv. The joint venture was made possible thanks to a $12 million donation by California's Andre and Kathryn Merage Foundation.

The new institute will offer a unique EMBA (executive master of business administration) program aimed at the high-tech executive. Set to be fully operational by 2010, the English-based program aims to train the current and future generation of high-tech business executives, with a specific focus on familiarizing them with the ways and needs of the key US, European and Asian markets.

The program will span 18 months and will allow student the opportunity to meet with top instructors, economic policymakers and leading academic figures form around the world. Program graduates will become Merage Foundation Fellows.

The future Institute for International Business will also sponsor three centers, dedicated to the research and development of international trade policies, and the training of Israel's future business leaders.

First of its kind

The Merage Foundation is an American, family foundation which was founded by Paul Merage in 2004. Its primary mission is to contribute to strengthening Israel's trade ties with the US via improving Israeli business people's familiarity with the ways of the American economy.

The Foundation also organizes two annual seminars for Israeli executives and entrepreneurs. So far, over 225 business people and MBA students have participated in the Foundation’s seminars.

Professor Yitzhak Apeloig, president of the Israeli Institute for Technology believes that "the EMBA program will quickly become a leading international program which will receive a high international ranking. The program, the first of its kind in Israel, satisfies the need of Israel’s business community for a value-added, strategy focused degree.”

Paul Merage, of the Merage Foundation added: “Considering the size of Israel’s population, the push to establish new startups along with the growth of existing ones will depend upon efficient penetration of key markets like the US, Asia and Europe. This requires the building of top skilled, professional business leadership. We saw in the Technion the most fitting partner to train the new generation of Israeli high-tech leaders.”