One of Israel’s biggest cheerleaders
Excellent bio and interview of Jon Medved – Founder and CEO of Israeli crowdfunding platform OurCrowd. He reveals that Israel is almost neck and neck with China in terms of an absolute number of AI (Artificial Intelligent) startups.
Frog becomes a Prince
Israel’s Netanya-based software startup JFrog has been reported several times, but not when it raised $165 million last year. That transaction valued the company at $1 billion to award it the financial term “Unicorn”.
ECI Telecom exits for around $455 million
US-based Ribbon Communications is to acquire Israel-based telecommunications equipment supplier ECI Telecom for $324 million in cash plus shares worth another $130 million. ECI was founded in 1961.
A million new potential crowdfunding customers
Israeli venture capital crowdfunding platform OurCrowd is partnering with US investment bank Stifel Financial Corp. OurCrowd will offer crowdfunding opportunities to Stifel’s one million clients. Stifel will provide investment services to OurCrowd portfolio companies.
More orders for electric planes
Israel-based electric-plane startup Eviation Aircraft (reported recently) has signed up two more US customers for its pioneering commuter aircraft, taking the orders for “Alice” to more than 150 planes. Eviation’s CEO spoke at Israel’s “Business is an Adventure” conference.
Business is an Adventure
Virgin Atlantic and Calcalist organized the recent “Business Is an Adventure” conference in Tel Aviv. Eco-friendly ECOncrete won the “Pitch to Rich” event to Richard Branson and a trip to London plus the opportunity to join Virgin’s startup accelerator.
BA upgrades Tel Aviv-London route
British Airways has crowned Tel Aviv as one of the most popular vacation destinations for 2020. It has also inaugurated a new aircraft, the Airbus a350-1000, on the Tel Aviv-London route. The Tel-Aviv London route is one of the first to use the new plane on a daily basis.
Michigan State wants to buy Israeli tech
US State of Michigan Governor Gretchen Whitmer, visiting Israel, signed an agreement with Israeli Nonprofit Start Up-Nation Central to pinpoint Israeli technology that can boost the quality of life for Michigan’s citizens. Governor Whitmer also attended Israel’s WATEC conference.
Promoting tech innovation in Haifa
The Israel Innovation Authority (IIA), has selected the ILAB group including JVP and Mellanox to promote tech innovation in Haifa. ILAB will receive $25 million which it will match. ILAB will support 150 startups focusing on digital health, energy, environment and smart mobility.
Another solution to hi-tech worker shortage
Most newsletter readers will know that Israel has vacancies for many thousands of hi-tech workers. It has computer training programs for Haredim, Israeli Arabs and even African migrants and Palestinian Arabs. Now it is seeking retirees who want to get back into the workforce.