ISRAEL21c: Last year may have been a record-breaking year for exits and IPOs in Israel’s high-tech industry, but Israel’s Chief Scientist, Avi Hasson, predicts that the best is still to come.
Aside from efforts to turn more startups into mature companies, the recently released first edition of the report identifies three other areas Israel must address to keep the tech sector strong – new funding, the development of new technologies in traditional industry and the public sector, and smarter and more efficient government involvement.
According to the report, foreign funding is responsible for up to about half the R&D funding in Israel. Most foreign funding invested in Israeli VCs comes from the United States, but in the last three years, there has been increasing interest from investors in Asia, mainly from China.
“The ecosystem in which the high-tech industry operates is multifaceted and complex. We identified five core components in this ecosystem: innovation policy, human capital, funding, industrial innovation and international activity,” said Hasson.
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