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Hebrew University has created a $40 million Center for Nanoscience and Nanotechnology, an initiative that includes 15 researchers, guest lecturers, undergraduate courses and a building that is to be completed in another 18 months. Hebrew University is not the first Israeli research institute to establish a nano-science center - Ben Gurion University of the Negev, Technion Israel Institute of Technology and Tel Aviv University have all announced plans to do so. Despite the cheerleading of academia, as of December of last year, there were just 24 nanotech-related companies in Israel, according to Deloitte & Touche-Brightman Almagor. Israeli venture capitalists, however, are pushing that figure forward.