Israel Active

U.S. chip giant Qualcomm is acquiring Israel’s for . Hong-Kong based Animoca Brands has bought control of Israel’s educational games startup   for .

Israel’s Electreon (see previously) has been testing a 1km recharging circuit in Brescia, Italy, since Nov 2020. Electreon is now on track to install an electric lane for shuttles and service vehicles at Milan Bergamo Airport. Maserati is also interested in using the technology at its factories.

Israel’s SuperMeat (see previously) has received a grant from Israel’s Innovation Authority. It will finance a high-throughput screening system for feed ingredients and supplements, plus cell scaffolds for cultivated meat, The project will benefit the entire cultivated meat industry.

Israel’s ReturnGO has developed an exchange-first returns platform for web-based retailers that simultaneously reduces refunds and waste. It offers to turn the returns process from a painful financial problem into a lever of revenue, and to improve the relationship with customers.

The insurtech platform of Israel’s Faye (see previously) for US citizens, includes a smartphone app that sends real-time alerts, 24 x 7 expert help, plus fast, digital claims processing. It will resolve missed connections, cancelled flights, lost passports and much more.

Israel’s ExitValley launched in 2015 (see ) as a mechanism for the general public to invest in early-stage Israeli startups. Seven years later it has dozens of successful companies in its portfolio. The founders say that Israeli start-ups are still a significant growth engine in Israel and globally.

The Dubai International Chamber of Commerce is to open an office in Tel Aviv. Its President and CEO, Hamad Buamim, said that Israel was a “strategically important” market for Dubai, and was expected to become one of Dubai’s top 10 trading partners “within a few years.”

Israel’s budget deficit as a percentage of GDP was a mere 0.04% for the 12 months till the end of May - the lowest in 14 years. Government revenues increased and expenditures fell amid the ongoing rebound from the coronavirus pandemic.

Just two years after the historic Abraham Accords, the new UAE-Israel free-trade agreement removes tariffs on 96% of goods between the two countries. It is expected to increase bilateral non-oil trade to over $10 billion within five years.

Israel’s Tourism Ministry has received 107 applications for grants to build new hotels or expand existing ones. The ministry has a budget of NIS 165 million for such grants, to support the rehabilitation of the country’s tourism industry in the wake of the global COVID-19 pandemic.