Israel Active

Cloud company Qubex won the Calcalist and Poalim Hi-Tech's StartUp+ competition. Qubex is building a platform that allows companies to adjust the size of their cloud to their actual consumption. Runners up included Faireez, , , and NOF - Natural Offset Farming.

Israeli AI software development platform Tabnine (see previously) is now used by a million IT professionals every month. This should increase significantly as Tabnine has just been made available on Google Cloud Marketplace.

CNBC’s latest Disruptor 50 List of outstanding startup companies includes Israel’s BeeHero (technology for healthier commercial beehives), Orca Security (agentless cloud security), Snyk (app security products for developers) and Wiz (cloud cybersecurity).   + 

Israel and Morocco have signed three new transportation agreements. They are to allow Israeli driver’s licenses to be used on the roads in Morocco, to encourage direct shipping between the two countries, and to facilitate exchanges related to road safety and transportation innovation.

Israel’s economy grew by an annualized 2.5% in the first quarter of 2023.  This exceeded the 1.5% forecast by the IMF and beat S&P’s forecast of negative growth per capita. Unemployment in April fell to 3.6% from 3.8% in March.

Israel's cabinet has approved a new 65km pipeline between Ramat Hovav and the border with Egypt that will allow an extra 6 billion cubic meters of natural gas to be exported to Egypt annually. It will increase annual revenues from royalties and taxes by hundreds of millions of shekels.

The IDF’s Mamram technological unit, founded in 1959, has a network of some 12,000 alumni who have founded around a quarter of Israel’s $1 billion Unicorn startups. The Mamram Alumni Association’s Mamram Space accelerator program (now in Batch 6) is helping to grow Israeli startups.

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Australia’s Aristocrat has acquired Israeli-founded for approximately . IBM has acquired Israel’s for .

Former Prime Minister Naftali Bennett is joining the board of directors of Israel’s Quantum Source (see previously) which is developing an Israeli quantum computer. Before entering politics Bennett co-founded Cyota ($145 million exit) and was CEO of Soluto ($100 million).