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INDUSTRY NEWS
INTERNATIONAL
MGA attends NAB Innovation Trade Mission to Israel From 22 to 29 March 2019, MGA was privileged to be invited by National Australia Bank (NAB) to attend an Innovation Trade Mission to Israel, hosted by the Australian Israeli Chamber of Commerce. As noted in the previous edition of the Independent Retailer, Israel is fast becoming Silicon Valley 2.0. In the past 10 – 15 years Israel has rapidly grown its economy by focusing on solving problems around the world with technology-based solutions. Startup businesses are a way of life in Israel where anyone with an idea that can solve a problem or make life easier through technology-based solutions is embraced. In fact, universities, the government and small businesses all work very closely and collaboratively to nurture, incubate and invest resources into new business ideas. The fast emergence of Artificial Intelligence (AI) based technology has touched and advanced many industries and agricultural sectors, for example, retail tech, food tech, agri-tech, medi-tech, edu-tech, transport tech, freight tech, auto tech, finance tech and the list goes on. Tech companies such as Intel have been operating in Israel for decades and employ more than 14,000 people. Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactures motherboard
mga.asn.au | June 2019 | Edition 4
chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing. Failed attempts to bring new ideas and start-up businesses to life are applauded and revered as much is learned from the efforts made and can be reinjected back into the next great idea. MGA, together with a group of delegates from Australia with various industry, agricultural, venture capital and private equity backgrounds had the amazing opportunity to meet with some of Israel’s most successful startup business founders, investors, venture capital firms, as well as government agencies supporting startups. MGA is very determined to help find a solution toward future proofing the independent supermarket and liquor industry. Technology-based solutions to enhance shopper experiences are one way to stimulate a response from customers and to keep our member’s businesses relevant in the 21st century. Online shopping, whilst slow at present, is likely to accelerate in popularity with consumers
