Tech exits increase by 72%
The total value in 2019 of the 138 Israeli tech firms exits (take-overs, mergers and IPOs) was $21.74 billion – 72% higher than in 2018.
A thriving 1st-world economy in a 3rd-world sea
Israel possesses assets and innovations that can solve many of the problems that plague its Arab neighbors. If peace can possibly be achieved between Israel and the Arab world, the potential for mutually beneficial, practical and economic relationships is huge.
Israel’s economic surge
Ambassador Ettinger highlights Israeli growth since 2000 includes GDP (+206%); exports (+149%) and foreign reserves (+396%). 60% of women are now in the workforce (+25%); university students (+351%); and tourists (+108%). But debt per GDP was down 24.7% and US aid per GDP down 57%.
Direct flights from Siberia
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.
Another connected car connection
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.
Multinationals benefit Israeli economy
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).
Startup Jerusalem
Good video highlighting the innovation and startup ecosystem of Israel’s capital.
Even more Japanese investment
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.
Tel Aviv fintech innovation hub launched
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.
Second Israeli cybersecurity acquisition for Mimecast
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.