Israel Active

The increased use of zoom during the Covid-19 pandemic is helping Israelis conduct business with India. Not only are travel costs saved, but Indian companies have adopted digital platforms and it is now quite easy to set up introductory meetings. India accounts for 3.5% of all Israeli trade.

The Israeli government is launching a stimulus program to increase employment in hi-tech and industrial sectors. The program’s initial budget stands at NIS 60 million with the goal of training 3,000 local job seekers. Grants up to NIS 45,000 will be available to eligible employees.

The Israel-Dubai Conference is set to take place in Dubai on Nov 24-26. The joint initiative by Bank Leumi, Reshet 13 and Calcalist aims to encourage business cooperation between the two countries in the fields of finance, technology, industry, agriculture, health, and tourism.

This week, Israeli wines from the Golan Heights Winery will be stocked in stores in the United Arab Emirates. They will be sold through African + Eastern - a major importer and distributor of wine and alcohol in the Emirates and the Persian Gulf, representing some of the leading brands in the world.

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Israeli social trading and marketplace platform eToro (reported previously) is hiring another 100 employees to join its 1,000 workers in 12 global offices. It has already recruited more than 300 employees since January 2020 - half of these are based in Israel.

Israel’s DouxMatok (reported previously) has partnered with Canada’s Rogers Sugar (parent of Lantic Inc). Rogers will create sugar cane-based sweeteners, using DouxMatok’s technology, that are 30 to 50 percent lower in sugar, for food manufacturers in North America.

The US subsidiary of Israel’s Elbit Systems has signed a new contract to provide night-vision goggles to the U.S. Army for $22.5 million, with a potential value of $442 million. The goggles provide vision up to 300 meters - double the range of previous versions.

Twelve Israeli-founded companies were among 100 startups in Forbes Magazine’s “The Cloud 100”, ranking the world’s top private cloud companies. The list “recognizes standouts in tech’s hottest category, from small startups to private-equity-backed giants”.

Japanese asset management firm Aristagora Advisors has launched a new venture capital fund Aristagora VC dedicated to investment in early-stage Israeli startups. The $60 million fund will focus on deep tech companies and will initially invest up to $1.5 million in each startup.