3 subjects where Israeli high-tech sets global standards
Most people only hear about Israel, when it is attacked by one of its neighbours. The truth is that Israeli tech is increasing a part of the lives of millions around the globe, and many do not even realise it.
It is not just that the Holy Land has become a hub for r&d centres for the multinationals and conglomerates. Apple’s Tim Cox will be officially opening an 800-person hub next week. It is more than Wix and Waze and Glide and others going from small start-up to mega exit in the space of a few years.
Israel offers key areas of excellence in core fields of new technology, sometimes in the most surprising of fields. Here are three recent case studies of what I mean.
1) Cyber technology. Although only a country of barely 8 million people, every year, it is estimated that there are at least 30 new cyber tech firms. Israel’s defense industry has helped to consolidate this international reputation. And this week, the former head of the 8200 secret military unit announced a new US$18 million fund, Team 8, to which even Google’s Eric Schmidt has contributed.
2) Aside from a weekly football and also a national lottery, at least superficially, betting is not a big industry in Israel. Yet Avi Shaked has created a on-line gambling company called 888 that is now the subject of a billion dollar takeover bid from William Hill. Not bad for a country that does not even boast a race track.
3) Israel has often found itself in the news for creating amazing medical devices. For example, just at how many people are now learning to walk again because of the determination of a family man from Haifa. Two weeks ago, it was announced that “Philips Healthcare and Teva Pharmaceutical Industries Ltd. recently launched Sanara Ventures — an incubator for Israeli medtech and pharmaceutical companies with global aspirations.” The initial fund is valued at US$25 million. Israel’s medtech sector is already valued at over a billion dollars.
The list here of Israeli brain power going global could be far more extensive. It is thus understandable how Bloomberg concluded that Israel should be ranked fifth on their annual Innovation Index
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