Israel Active

The "Alice" electric plane from Israel's Eviation Aircraft wasn’t the only Israeli technology on display at the recent International Paris Air Show. Eight Israeli firms showcased systems, in response to a growing European willingness to spend on defense and homeland security.

Approximately 365,000 tourists visited Israel in June - over 17% higher than in June 2018. Since Jan 2019, two and a quarter million tourists entered Israel – nearly 10% more than the same period in 2018.

Despite more Israeli startups turning into mega companies, many sell for increasing large valuations. In the first half of 2019, there were 66 exits totaling $14.48 billion, the highest in 5 years. Even without the $6.9 billion Mellanox exit, it was a billion dollars more than the same period in 2018.

Israel has signed a new agreement with Hong Kong, intended to ease customs clearance regulations for export and import between the two. It is Israel’s 7th bilateral agreement under the authorized economic operators program after the US, Taiwan, South Korea, Canada, China, and Mexico.

Anheuser-Busch InBev is to open a cybersecurity unit in Tel Aviv after suffering an upsurge in hacking attacks. AB InBev provides 25 percent of the beer globally, making over 400 brands including Budweiser, Corona, Becks, and Stella Artois.

Israeli startup Quik operates a digital store where Israeli customers can order groceries and have them delivered to their homes in up to four hours. The products are picked up from partner stores in the vicinity of the customer’s residence.  

Some 40% of the tenants of the 28 offices of Israel’s Mindspace in Europe and the US are large enterprises, including Microsoft, McDonald’s, Samsung and Barclays. They typically rent space for up to two years, allowing them to grow and shrink, and save money too.

Luxembourg-based fund Maor has closed its first Israel-focused fund at nearly $100 million. Maor aims to “facilitate access of European investors and in particular European family offices to the Israeli technology ecosystem and opportunities.”

Israel’s Elbit Systems has won a $73 million contract to supply the German Air Force with aircraft defense systems, Also, Elbit’s subsidiary Cyclone Ltd. was awarded a $50 million contract to supply structural parts from composite materials for an aircraft of a North American customer.

I reported previously that Renault-Nissan Alliance planned to establish a Technology Innovation Center in Israel. Renault-Nissan’s 1,600-square-meter Alliance Innovation Lab Tel Aviv is now open. It also incorporates its current partnership with Mitsubishi.