Israel Active

Israel’s Rivulis Irrigation was losing $50 million a year when in 2014 it was acquired by Venture Capitalists FIMI for $60 million. New management and partnering India’s Dhanna Engineering now values Rivulis at $170 million.

Jerusalem’s Waldorf Astoria Hotel took the top spot in the Middle East and seventh place worldwide in Condé Nast Traveler’s annual Readers’ Choice Awards.

Israeli startup Pixtier offers an opportunity for owners of drones (UAVs) to upload 2D photographs taken, to the Cloud where Pixtier’s software will turn them into 3D maps. These are then available to real estate agents, city planners, researchers, etc. who pay a fee that Pixtier share with drone owners.

MassChallenge, the world’s largest start-up accelerator, is setting up shop in Jerusalem – the only other foreign location other than London chosen for the honor. “Israel is an outstanding and growing hub for entrepreneurship,” said MassChallenge founder and CEO John Harthorne.

Over 1200 people attended each of the eight fashion shows on every day of Tel Aviv fashion week. Even shows by relatively unknown young Israeli designers were fully booked. There was also publicity for Israeli fashion tech startups such as Julbox, WiShi, Donde and Nettelo.

The Imperial Craft Cocktail Bar, on Tel Aviv’s HaYarkon Street won the title of best bar in the Mideast and Africa for the second year running, beating out Zuma in Dubai. Also, Tel Aviv’s Tasting Room won the Middle East & Africa Bar category at the Restaurant & Bar Design Awards.

Israel’s TriPlay has acquired eMusic - one of the first digital music services - and its 25 catalog of songs. eMusic can be accessed on over 14 platforms via the web and apps.

I just had to include this link to a very positive review of Israel’s economy.

Israel’s aggregate budget deficit in the past 12 months (October 2014-September 2015) amounted to 2% of GDP. The deficit from Jan to Sep 2015 was NIS 3.8 billion compared to NIS 10.9 billion in the same period of 2014.

Australia’s assistant minister for innovation, Wyatt Roy, is leading a group of around 50 entrepreneurs, industry representatives and government envoys on a week-long expedition of the startup nation. He will meet Israel’s Chief Scientist and visit startup incubators.