Afternoon Tea in Jerusalem Blog

Life in Israel

tea
Israeli commercial life and society

In addition to my work as a business coach, one of my interests is blogging about life in Israel. This is a country full of contrasts – over eight million citizens living in an area the size of Wales. You can see snow and the lowest place on the globe in the same day. Although surrounded by geopolitical extremes, Israel has achieved a decade of high economic growth. My work brings me in contact with an array of new companies, exciting technologies and dynamic characters. Sitting back with a relaxing cup of strong tea (with milk), you realise just how much there is to appreciate in the Holyland. Large or small operations, private sector or non profit, my clients provide experiences from which others can learn and benefit.

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The hidden numbers of Israel’s high-tech success

A few years ago, I was acting as the business mentor for a biotech company that had entered the Mass Challenge incubator in Jerusalem. Alongside them were a couple of people developing an app for the culinary tourist market. And today?

The biotech entrepreneur is still pushing ahead. Bitemojo has just won an international gastronomy competition (UNWTO). Is this one tiny step to becoming another Israeli high-tech success?

Every now and again, there are journalistic gripes that Israel does not produce enough commercial Unicorns. Well, I was recently wading through the updated stats of Israel’s success as a start up nation. What is impressive how the numbers seem to keep growing, almost exponentially.

Just look at the base of Israel’s ecosystem. For example, Comverse, which hit troubles and was sold off in 2016, saw 299 of its employees set up 386 start ups. ICQ, the founder of ‘chat technology’ and sold for US$400 million to AQL had 42% of its staff create 66 enterprises. Anobit, Intel’s first Israeli purchase, fostered an additional 11 businesses.

Another aspect of the high-tech industry is its impact on the lesser developed elements of the working population. Roughly 160,000 people are employed in high-tech, and there are about another 10,000 unfilled positions. Back in 2010, maybe 3,500 came from the ultraorthodox sector. That number had close to trebled by the end of last year.

Not only does this ensure that two conflicting parts of society are able to meet each other in the workplace. Significantly, many of these observant workers are female. Their work hours are frequently adjusted to match their domestic demands, often allowing husbands to study all day in religious seminaries.

Overall, women compromise around a quarter of the Israeli high-tech sub economy. Since 1995, at least 24 ladies have led exits of US$ 30 million or more. At the top of the list is Dalia Prashkar, who sold to BMC for US$650.

The Non-Jewish population is also beginning to make its mark. 24% of the overall population, barely 8% work in high-tech. Intel, CISCO and others had taken major steps to change the balance. And there is now a government sponsored high-tech incubator in the Arab city of Nazareth.

What next? Fivver, Waze, Wix have all succeeded on the global stage. ReWalk is helping paraplegics move about. Mobileye, started out to prove to Toyota that a solitary camera could protect a car from accidents. The company was sold to Intel for US$15.3 billion last year. It has already seen a unicorn spun off from it.

So what will we be saying about Bitemojo in five years, or maybe  we will only have to wait twelve months?

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