Fondly nicknamed the ‘Startup Nation’ of the world, Israel is a country that has a lot to offer in high-tech solutions and innovative startups. With a population of merely approx. 9.5 million, Israel has more than 6,000 active startups across various sectors with extensive engineering and tech expertise. This not only puts them on a global map but also allows them to showcase their unique ethos of the startup ecosystem to the world.
One of the significant reasons Israel is such a powerhouse of emerging technologies is its substantial Research and Development capacity. Israel invests close to 5% of its GDP in R&D, focusing mainly on cybersecurity, medical research, and advanced technological solutions. This gives them a competitive advantage in the global startup markets, allowing them to get a head start on what the world needs in terms of innovative and problem-solving solutions.
Even with the ongoing coronavirus pandemic affecting countries worldwide, the tech startups in Israel have been setting the global markets on fire with their forthcoming and advanced technological solutions. Irrespective of whether it’s automation, cloud computing, AI, or healthcare solutions for covid, Israeli tech startups have covered the length and breadth of all the sectors that can reform the global economy on a macro level in the future.
Even when companies across the world are suffering on account of the ongoing pandemic, 10 Israeli startups have achieved the ‘Unicorn’ status (worth $1 billion or more) just within the first quarter of 2021. In fact, over the past couple of years, the number of Unicorns in Israel has increased at lightning speed. This is also one of the significant reasons why Israel has the highest number of startups per capita globally.
However, this ‘Start-Up’ nation is slowly scaling up to a global dominator in the world of high-tech advancements, with businesses raising huge amounts of money from investors globally. Its unique culture, growing economy, and extensive government support make Israel the world leader in startups and advanced technology.
There is no denying the fact that Israeli startups are here to stay and create a big splash globally with their state-of-the-art technology and groundbreaking innovation. With record-high investments and scalable business ideas, the world has its eyes set on Israel for transformative and upcoming novel tech solutions.
To know more about Israel startups and their ecosystem, please reach out to:
Ms. Priyanka Nangalia
Trade Officer -Trade and Economic Mission, Mumbai