Israel has announced itself on the tech scene, receiving 28 times more capital flow than the US on a per capita basis. In 2022, Israel’s high-tech companies raised $14.95 billion through 663 deals. The Startup Nation ranks second in the world for R&D expenses per capita, third for number of AI and machine learning startups. One in three cybersecurity unicorns in the world is an Israeli company. It also hosts R&D centers for few tech giants like Google, IBM, Amazon.com and Facebook, to name a few.
Tel Aviv, Israel’s financial hub, had the 7th largest startup ecosystem in the world in 2022. It hosts innovation centers by major companies such as Citi, Apple and Volkswagen. With respect to World Venture Funding per Capita, Israel ranks second with $959 billion. The prior mentioned numbers, combined with targeted government programs and tax incentives has created a sanctuary for innovators and entrepreneurs.
The Abraham Accords, signed with Bahrain, UAE and US, could create another 150,000 jobs. If the Accords grows to 11 nations, it could result in the creation of more than 4 million jobs. Some notable Israeli startups include Waze, Overwolf, WIZ, Just, to name a few.
The 10th OurCrowd Annual Global Invest Summit in Jerusalem was a massive success with 1,084 MNCs, 943 entrepreneurs, $2.1 billion in commitments and 9,034 people registered from 111 countries.