Major Chinese firm The Founder Group is planning to open a new subsidiary in Israel, according to a report in The Times of Israel. The new firm will be operated by Founder Technologies, which is itself a subsidiary of The Founder Group.
Established by Peking University in 1986, Founder manufactures all sorts of computer products such as desktops computers, notebooks, printers and servers.
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Israel and China have been increasing their business and cultural ties for years now. Chinese companies have been learning from the successes of Startup Nation and have been looking for help in their research and development programs in Israel.
For example, just last week China’s WuXi PharmaTech, a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in both China and the United States, expanded into the Israeli market. The company announced the establishment of a representative office in the Tel Aviv area of Israel.
And last summer Israel’s Qoros invested $600 million in a Chinese car manufacturer.
The Israeli subsidiary of will be operated by Shanghai Founder Technology and have a local staff. According to official documents released by Founder the new Israeli subsidiary has been created in order to take advantage of local high-tech innovative enterprises, expand and accelerate the company and to
Enter into cooperation with local companies, including the absorption of advanced technologies and the introduction of programs, business cooperation and capital cooperation.
Founder believes that this will enhance the company’s core competitiveness, and so it intends to set up a window company in Tel Aviv, Israel, employing local staff.