Tapping into one of the world's largest and fastest growing economies, Israel is set to play host to 15 of China's top Chief Executive Officers as part of the Israel-China Executive in Residence Recruitment Program, the world's first such venture.
The three-week program, announced on Wednesday by the Infinity Fund, which is coordinating the program in conjunction with the IDB Group and I-China, will host in October 10-15 Chinese executives and entrepreneurs selected for the program based on excellence and entrepreneurial skills.
"This is a golden opportunity for personal growth, which we trust will attract top talent from China," said Amir Gal-Or, managing partner of the Infinity Fund. "The program will provide both the fund and the participants a unique environment to learn from each other and the chance to create the leading companies of the next decade."
According to Infinity, program participants will receive an employment contract and a full program scholarship, which includes round-trip tickets to Israel, hotel expenses and full tuition for the duration of the recruitment program. Each graduate of the program will be hired for a senior management position in one of Infinity's portfolio companies in China.
"Based on our experience, human capital is more important than any specific investment the Fund could make, mainly because dedicated and loyal management is the cornerstone of any strong and successful company. This is the reason why we are investing in this specially designed executive in residence program," Gal-Or told The Jerusalem Post.
The program is another facet of Infinity's core strategy of investing in late-stage Israeli technology companies with parallel investments in Chinese businesses that license Israeli technologies, develop and grow them in accordance with Chinese domestic requirements and also market them in China, explained Infinity.
The program is also intended to serve as a forum for the exchange of ideas and information between all of the participants.
The Israel-China fund is Infinity's second fund operating under the Israel-China investment model; it announced its first closing in May 2007 for $155 million. The first Infinity Fund operating under the Israel-China model was the first on-shore fund ever to be approved by the Chinese government.
Candidates for the recruitment program will undergo a thorough selection and screening process conducted by Infinity executives.
"We are looking for candidates with experience as investment professionals in growth capital investment firms and all candidates should have an entrepreneurial approach and functional English," said Infinity.