Abstract  Although the systemic changes towards innovation networking between university-industry and governmental actors have recently found a place on the international policy and literature agenda, networking between the organizations and people - for the national survival, production and growth - has been deeply rooted in the Israeli system even before the establishment of the Israeli State in 1948. Internal and international constraints fostered the formation of personal links, as did institutional settings that promoted networking. This paper reviews the interaction of societal, organizational and cultural features that render innovation networks in Israel successful. The research focuses on the impacts of the Israeli Magnet Program on the Israeli R&D growth and performance. The implications of innovation networks for a late-developing country like Turkey are reviewed in the contexts of catching-up and cross-regional collaboration between the Israeli and Turkish industries and academies.