Israel Active

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.

Intel has launched a new accelerator program in Israel for early-stage startups focused on data-centric tech, including artificial intelligence (AI) and autonomous systems. The program, called “Ignite” will host 10-15 startups for five months, providing mentorship from Intel and industry experts.

Arizona Governor Doug Ducey has approved a $275,000 budget for setting up a new trade office in Israel. 2017 bi-lateral trade totaled $400 million (double that of 2010. Israel-based companies with operations in Arizona include Mobileye, Elbit Systems and Keter Group.

I reported previously on the environmentally-friendly compostable packaging developed by Israeli startup TIPA. Now Google’s shopping site, Google Express, is to package purchases in TIPA’s bio-degradable plastic. UK supermarket Waitrose and others already use TIPA.

Horizon 2020, Europe’s flagship innovation program, gave grants to 423 Israeli projects in 2018. Since Horizon 2020 was set up in 2014, it has funded 1,062 Israeli recipients to the tune of 742 million euros. Cooperation was celebrated at an awards ceremony in Jaffa on 4th June.

1.8 million tourists have visited Israel in the five months since the beginning of 2019. May 2019 saw an 11% increase on May 2018 with 400,000 tourists arriving. And contrary to reports from biased media outlets, hundreds of thousands of Christians, Muslims and Jews peacefully visited Jerusalem.

There are 41 top European firms with Israeli innovation offices - nearly half established in the last 3 years. And unlike Silicon Valley, most of the Israeli offices are fully-fledged R&D centers with over 50 employees - not simply outposts. Most work in automotive, electronics and Life sciences.

Retail giant Amazon has its own airline called Prime Air, comprising 40 second-hand Boeing 767s. Israel Aerospace Industries has converted 80% of the fleet from passenger planes to cargo planes and the refurbished aircraft are now good for another 20 years of service.