Israel Active

Jerusalem Venture Partners and AXA Strategic Ventures have launched the InsurTech Israel Competition, to find groundbreaking companies in the field of InsurTech” for the changing insurance world. The winner will receive a $1 million investment and other business support.

CreditEase China, one of the world’s largest microcredit and wealth management firms, is raising a new $50 million fund to invest in Israeli smart manufacturing, Artificial Intelligence, and Augmented Reality technology.

The US Federal Aviation Authority (FAA) has issued a new regulation allowing planes to land in difficult vision conditions if the pilot has special accessory systems. The announcement has raised interest in the ClearVision system from Israel’s Elbit.- the first system to comply with the new rules.

Israeli airline EL Al is purchasing the Rolls Royce Trent 1000 engine for its Boing 787 Dreamliners.  The $1 billion deal gives the UK its largest ever trade deal with Israel.

Copia Agro & Food is raising $50 million to expand its investments in Israel. The fund aims to create technologies and products aimed at improving the efficiency and sustainability of the food chain and decrease the adverse effects of agriculture on the environment.

Massachusetts Governor Charlie Baker has been leading a delegation of some 50 business and academic leaders from Massachusetts to Israel.  A similar visit in 2014 resulted in several new partnerships and business deals.

Exports of Israeli goods rose 7.7% in November, raising Israel’s Composite State of the Economy index up 0.34% from its Oct value.  Job vacancy numbers also increased.  Israel’s debt to GDP ratio is now 60.4% - close to the Government’s 60% target for 2020.

GDP up 3.8% and a trade surplus. Israel’s Gross Domestic Product grew by 3.8% in 2016 – 1.8% more than the growth in its population.  Israel also had a balance of payments current account surplus of $13.4 billion in 2016.

Israel’s Ecoppia is to install its water-free, robotic solar panel cleaning system at the 10,000-hectare 2,255 MW Bhadla Solar Park being constructed in Rajasthan, India. Dust storms reduce solar panel efficiency by 40%.  The Eccopia system will also save over 1.5 billion liters of water.

The "Wine" (Yayin) pomegranate is a new strain of the ruby-red fruit developed by Israeli farmers at Zamiri Nurseries of Moshav Yesud HaMa’ala. They are juicy, tart yet sweet.