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Israel Trade & Economic Office

U.S. Midwest Region

The Office of the Chief Scientist Calls for Proposals for Establishing and Operating Technological Incubators in Israel

category: Uncategorized
The Technological Incubators Program of the Office of the Chief Scientist at the Ministry of Economy issues competitive Processes for establishing and operating four Technological Incubators in Israel in accordance with General’s Directive 8.3 dated
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The IMF released a preliminary report of the Israeli economy for 2015

category: Uncategorized

The Bank of Israel published that IMF mission, headed by Mr. Bas Bakker, presented the Minister of Finance, Mr. Moshe Kahlon., and the Governor of the Bank of Israel, Dr. Karnit Flug, with its preliminary 2015 Article IV Consultation Concluding Statement on Israel's economy. The IMF is expected to publish within two months its final report on the Israeli economy for 2015. 4 key points emerge from this report:
  1. Israel’s economy is performing well. After the global financial crisis, Israel, unlike other countries, maintains its GDP growth and the creation of employment (employment rate increased in 2007 from a rate of 59% to 68%).
  2. Some challenges remain: A. The fiscal deficit remains stubbornly high, leaving limited buffers to respond to shocks. B. Negative inflation, below the Bank of Israel’s target, but housing prices continue to rise. C. Low labor productivity and the gap with the US is widening. D. Income inequality is among the highest in the developed countriesOutlook:
  3. Positive economic outlook. Expected growth is 3% (up from 2.8% in 2014), due to strong private consumption growth. This is driven the rapid increase in employment, inear-zero interest rates, falling import prices, and the rebound from the impact of military operations last year. Inflation will turn positive, reaching ¾ percent at the end of the year and the target band next year. There is not much slack in the economy: staff judges that the output gap is near zero. In the medium term, output will grow around 3-3 ¼ percent-in line with our current estimate of potential output growth.
  4. Risks to the outlook are balanced. Growth could disappoint if growth in Israel’s trading partners were weaker, geopolitical tensions in the region heightened, or the shekel appreciation continued. A sharp correction in housing prices could also slow growth. Growth could also be stronger than expected, for example, if trading partner economies recover faster or investment in the natural gas sector increases. Monetary tightening in the United States would likely help Israel, as it would exert downward pressure on the shekel, which would boost growth and inflation.The IMF is expected to publish within two months of the final report on the Israeli economy for 2015. For the full report in English, visit the Bank of Israel.
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From Oranges Nation to Startup Nation

category: Uncategorized
With the establishment of the State, the citrus industry was the main export industry, with Yafo (Jaffa) oranges brand becoming identified with the young country.   The changes in Israel’s export were, some might say, revolutionary. According
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Israel’s open innovation ecosystem praised once again

category: Uncategorized
A delegation from the Inter-American Development Bank visited Israel last month. Led by the Chief Scientist of the Bank, the delegation which comprised of the represntatives of the Technology and Innovation Division
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World Cup Screened to Living Rooms Thanks to Israeli Technology LiveU

category: Uncategorized
Soccer fans are seeing their sport’s biggest event via hundreds of mini-broadcast units deployed by the Israeli start-up “LiveU”. LiveU, an Israeli start-up, is delivering television-quality video of World Cup coverage via cellular connections to broadcast centers
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What Are the Hottest Privately Held Israeli Companies?

category: Uncategorized
Ten Israeli companies — Checkmarx, Magisto, Feedvisor, ThetaRay, B.I.S. Advanced Software, Extreme Reality, justAd, MassiveImpact, Pontis and Safer Place — have been selected as winners of the prestigious 2014 Red
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Israeli Water Companies Show Off New Technology at WATEC 2013 Innovation Pavilion

category: Agriculture, Water
Israel’s biannual water technology event, WATEC, held from Oct. 22-24 was its biggest yet, attracting over 45,000 people from over 50 different countries across the world.  Attendees were privy to a brand new Innovation
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Israel’s Startup Culture Explored in TV Feature

category: Uncategorized
There is a higher concentration of startup companies in Israel than in any other place in the world outside of Silicon Valley.  Watch as Channel 4 from the UK showcases the Israel hi-tech
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