Yesterday, I attended the Israel Innovation Conference in Tel Aviv. One of the most impressive aspects of the day was the plethora of international delegations. And what are they looking for?

Well, the Chinese Vice Premier signed a formal agreement, enhancing r&d cooperation between the two countries. I spent two hours at a networking meeting with 20+ people from Hong Kong. Their message is simple – Hong Kong needs to buy into Israel’s concept of entrepreneurship. And tonight, I intend to mingle with the Aussies, a combination of investment specialists and high-tech experts, whose stated aim is to learn about Israel’s successful eco-system.

The conference features a fascinating range of new technologies and products. Just to give two quick ‘tasters’:

• INDI has developed a non-diary formula for infants, which resolves 99% of all problems related to cow’s milk. No website, and yet they are about to commence trials
• CellBuddy is a consumer’s dream. Based on a novel SIM card, the company allows you to choose your own mobile carrier. The product is due for launch later this summer, threatening the high prices of many carriers around the globe.

The point is that these visitors are following in the footsteps of many other international leaders of commerce. And again there are a couple of examples of such investments in this morning’s newspaper. “Alcatel-Lucent (ALU) plans to open a Bell Labs research center outside Tel Aviv to help the French network-equipment maker advance in cloud technology”. And Bell has been applying its knowledge since 1925. In parallel, Samsung intends to extend its operations in Israel, by opening a ‘center for excellence’ for health / bio technologies.

The lesson is simple. Israel has created has successful model for embracing new technologies. However, the mandarins in Jerusalem must be aware that there are others who are watching, learning and looking to improve on that same concept. That too is a form of innovation.