Israel Active

Oracle CEO Safra Catz, the US's top-earning female tech billionaire, granted every Oracle employee in Israel a bonus for the difficulties they are facing. During her week-long visit to Israel, she revealed that her husband said that on Oct 7 she stopped smiling. Only on arrival in Israel did she smile again.

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The $473 million startup investment funding in Jan 2024 was 75% higher than Jan 2023.

It’s not there yet, but Israel’s Sequence looks a very useful future platform to manage all personal finances in one place. Keep track of bank accounts, investments, credit cards, loans etc. Automate regular financial activities, reduce debts, get the best interest rates, control investment strategies etc.

Israel’s Gilat Satellite Networks (see previously) has won a $10 million follow-on order from the US Department of Defense to supply more of its DKET 3421 terminals. Deploying in less than three hours, the DKET 3421 provides a satellite network hub anywhere in the world.

Israel’s UltraSight (see previously) has partnered with South Korean medical device manufacturer Selvas Healthcare to introduce the Israeli’s AI-powered cardiac ultrasound diagnosis system into the Asia market. It should help combat the increase of cardiovascular disease in Korea.

The 710 West initiative, set-up by an all-women team, motivates and encourages evacuees of the western Negev to seek employment. Its personal and professional support helps them find the right fit of employer and suitable work, even though many are still displaced.

Israeli NGO Yazamiyot (see previously) and Arieli Capital held an event at Microsoft's offices in Be'er Sheva to discuss how to support female-led startups in the south. When partners are called up, women entrepreneurs often must manage both the home front and lead the startup.

Global venture investing platform OurCrowd presented progress of its Resilience Fund (see previously) supporting war-impacted but high-potential Israeli startups. It has now invested in 22 startups - many building products to help win the war or have 50-100% of employees in the IDF.

Israel's tech sector continued to expand in 2023 with salaries increasing by around 3%. Although exports of services fell generally, in the tech sector they increased by 1.6%. Meanwhile Israel’s inflation rate fell to 3% - within the Bank of Israel's target range, allowing it to cut interest rates.