Exports to China are booming
Israeli-Chinese trade reached nearly $10 billion in 2017, more than double the figure of a decade ago. This trend appears to be accelerating, with Israeli exports to China increasing dramatically by 62% to $3.5 billion in the first eight months of 2018.
New Jerusalem Entrepreneurship Center
Israel has allocated NIS 20 million to a consortium of the Hebrew University of Jerusalem, the Bezalel Academy of Design and Azrieli College of Engineering, to establish an entrepreneurship and innovation center in central Jerusalem.
Moving on from R&D to production
The Israel Innovation Authority and the Ministry of Economy’s investment center have partnered to provide grants mainly to Israeli life sciences companies looking to make the transition between research and development to manufacturing. BiondVax is already benefiting.
Israeli drones to protect the EU
Israel’s Elbit has been awarded a 59 million Euros contract for Unmanned Aircraft System patrol services provided by European Maritime Safety Agency to EU countries. Elbit’s Hermes 900 drones and systems will monitor Europe’s coastlines for suspicious activities and potential hazards.
Enabling African farmers to insure their crops
Israeli startup OKO has developed a system for subsistence farmers to obtain crop insurance to protect them from drought, storms etc. 3rd-party insurers (mobile operators, micro-finance institutions, NGOs etc.) use OKO’s broker platform to price policies and verify claims.
Reciprocal spending deal with Boeing
Aerospace giant Boeing currently spends over $322 million annually in Israel on purchases and investments. This could increase to at least $3.5 billion after signing a reciprocal spending agreement with Israel’s Ministry of Economy.
200 Israeli blockchain startups
The Israeli Blockchain Association (IBA)’s 3rd Israeli Blockchain Startup Map, shows over 200 startups operating in the blockchain industry. A large increase was seen in the Security sector, with 23 startups. The IBA predicts the overall number to double in 2019.
Economy’s expansion remains solid
The Bank of Israel's Composite State of the Economy Index for Sept 2018 increased by 0.3 percent. September job vacancies increased as did imports of manufacturing inputs. There was also a sharp rise in industrial production and in services revenue in August.
OBE for Israeli businessman
Israel’s Haim Shani, who chairs the UK Israel Tech Hub, is to be appointed an Honorary Officer of the Order of the British Empire (OBE). British Ambassador to Israel, David Quarrey said, “Haim has helped transform the tech partnership between the two countries.”
New Jersey Governor’s first Israel mission
New Jersey Governor Philip Dunton Murphy visited Israel on his first commercial mission to strengthen economic and technological ties between his state and the State of Israel. A new agreement was signed that aims to triple the current $1 billion annual trade between the two states.