Israel Active

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Israel’s has acquired US-based The Fly for ;

US convenience store mega-chain 7-Eleven (see previously) opened its first store in Israel with a long line of customers lining up outside the Tel Aviv shop to make their first-ever purchases. Eight more stores are planned to open in 2023, plus 30 more in 2024.

Torc Robotics, a subsidiary of Daimler Truck AG, announced a multi-year strategic collaboration with Israel’s Foretellix (see previously). Foretellix’s platform will test Torc’s systems to ensure the safe deployment of autonomous Daimler trucks.

French automotive supplier Valeo is partnering Israel’s C2A Security (see previously) to  enhance Valeo's cybersecurity offerings on their products in development and in operation. The automotive industry continues to realize the importance of cyber security.

Rabbi Nosson Rodin of the Braude College of Engineering in the Galilee organized an event to advise budding entrepreneurs in Israel’s north how to establish a startup. Rabbi Rodin is founder of Project UP-START for young adults who lack a business-oriented background.

The Merage Institute is again training the leaders of Israeli companies to help them improve their marketing in the United States.

Brief but interesting analysis of the importance of Israel in the strategy of Intel Corporation. Intel now has 34 Israeli Vice Presidents.  10% of the employees at Intel’s headquarters are Israeli.

For the first time in 35 years, Israel achieved a budget surplus in 2022 - of $2.85 billion, mostly financed by a 14% increase in tax revenues. Hopefully, this will help plans to lower Israel’s cost of living. GDP growth in 2022 was 6.3%, one of the highest in the OECD.

This article describes the work of the UAE-IL Tech Zone which focuses on building bridges between the two regions through tech. The group boasts more than 2,000 members. Also, the DANA Accelerator in Abu Dhabi, where women aim to solve major challenges in the Gulf.