Financial support for reservist business owners
The Israeli non-profit Ogen “Reserves for Reservists – Officer Loan Fund” aims to raise up to $10 million to provide interim fiscal support to senior officers who also own businesses. The fund aims to prevent the entrepreneurs from worrying so they can focus on their duties.
Protecting US troops from radiation
Israel’s StemRad (see previously) has secured a $4.5 million contract with the US Department of Defense for the acquisition of its radiation protection shields for the US National Guard. will provide 630 of its protective 360 Gamma belts to help respond to radiation incidents.
Inflation and unemployment fall
Israel’s Consumer Price Index (CPI) fell by 0.3% in Nov. In the year to the end of Nov 2023, the index rose by 3.3%, down from 3.7% from the 12 months to the end Oct. Unemployment in Israel fell to 2.8% in Nov from 3.1% in Oct.
Airlines resume services
German airline group Lufthansa plans to resume 20 weekly flights to & from Tel Aviv from Jan 8. Austrian Airlines and SWISS will also restart their services. Meanwhile, El Al and Delta have formalized a long-term codeshare agreement to combine frequent-flyer schemes.
Investment in Israeli startups – to 24/12/23
raised ; raised ;
Exits, takeovers, and mergers – to 24/12/23
US Okta is acquiring Israel’s for ;
Monitoring wastewater in Phoenix
Israel’s Kando (see previously) has begun a six-month pilot project to monitor municipal wastewater systems and facilities in Phoenix Arizona. Kando’s sensors will detect irregularities caused mainly by illegal dumping at industrial sites.
Creating 400 tech jobs in Western Negev
Israeli social impact high tech venture Place-IL (see previously) is leading an $15 million initiative, along with Google, Nvidia and others to create 400 high-tech jobs in war-affected Gaza border towns. Hi-tech will be crucial for building resilience and hope.
Resilience Fund beneficiaries (Dec)
Global digital investment platform, OurCrowd, has approved the first 8 investments from its $50 million Resilience Fund (see previously). The companies include , , , and .
Back in business
Businesses such as fashion store chain Castro had put 30% of its 4,500 employees on unpaid leave in October due to falling sales at the outbreak of the war. Castro has now re-engaged 90% of those furloughed staff, as shoppers have been coming back to its stores and online sales have also started to recover.