Russia's second-largest airline S7 Airlines is to begin direct flights between Tel Aviv's Ben Gurion International Airport and Novosibirsk, Siberia. Apparently, half of Russian visitors to Israel come from near Siberia and previously had to fly through Moscow. S7 begins the new service on 2nd Apr.
As reported previously Israeli connected car data company Otonomo has partnered Daimler/Mercedes, Skoda, Jaguar/Land Rover and Avis. Now, it is to provide Mitsubishi Motors with parking apps, smart electric vehicle charging, mapping etc. from over 100 companies.
The 362 multinational companies operating in Israel paid nearly $9 billion in direct taxation in 2019 – approximately 18% of all tax income received by the Israeli Government. They employ some 62,000 staff – the largest being Intel (11,000) followed by HP (3,000) and IBM (2,000).
Good video highlighting the innovation and startup ecosystem of Israel’s capital.
2018’s 28 investments and acquisitions worth $710 million by Japanese companies in Israeli startups was eclipsed in 2019 by 53 deals worth $815 million. Japanese interest in Israel surged after PM Netanyahu’s 2014 Japan visit and PM Shinzo Abe’s to Israel in 2015.
A new fintech and insurtech (finance & insurance technology) innovation hub - “Axell” - has been launched in Tel Aviv. It aims to generate partnerships between local and international corporations (e.g. Generali, AIG and Israel’s Maccabi Healthcare Services), and Israeli startups.
US cybersecurity company Mimecast has acquired Israeli cybersecurity phishing protection startup Segasec Labs for around $40 million. In 2018, Mimecast acquired Israeli cybersecurity startup Solebit Labs for $88 million in cash.
Israel’s Sapiens has previously taken over US and Spanish companies to build up its insurance software empire. Now it has bought German digitalization software developer Sum.cumo GmbH for 28.4 million euros to help expansion into Germany, Austria and Switzerland.
18 Israeli companies will be presenting at “Merage-Homeland / Cybersecurity" in Beverley Hills on 22nd Jan. The event has been arranged by the Southern California-Israel Chamber of Commerce in collaboration with Elite Entrepreneur Organization.
Israel’s economy, measured by its GDP, grew by 3.3% in 2019. This was the highest rate among Western countries and almost double the OECD average of 1.7%. Israel’s GDP has risen 44% in the past decade.