Afternoon Tea in Jerusalem Blog

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.

This week, Israel will be celebrating its 73rd Independence Day. 9,3 million citizens and growing.

Many will argue that the country survived its opening decades through a series of miracles. There is a strong case for stating that the concept of the ‘start-up nation‘ was born through military necessity, the core need to survive against the odds. And exactly how Israel is countering the Iranian threat today surely goes far beyond the scope of a James Bond film.

But after 73 years, Israeli innovation is driven by more than just military applications. Bottom line: In the first quarter of 2021 – with much of the country, USA and Europe in lockdown – Israeli tech startups raised a staggering record $5.37 billion in 172 deals. As my wife pointed observed, that sum is less than the value of America’s annual military support for Jerusalem.

May be an image of text that says "5,374 2,002 2,107 2,213 2,651 2,181 2,567 2,839 1,394 1,206 1,042 1,541 1,540 1,758 1,488 6/6 878 8/9 6b6 εοτ'τ τ8ν'τ 690' 1o0 99 88 120 113 133 113 651 953 980 108 105 121 113 127 111 2015Q Q1 Q2 2015Q 2015Q Q3 2015Q Q4 Q1 2016 2016Q2 2016Q3 2016Q4 2017Q1 20170 2017 Q3 2017Q Q4 Q1 2018 Q2 2018Q 2018Q3 2018Q4 2019Q1 2019Q3 2019Q4 Q1 Q2 Q3 Q4 Q1 2020 2020 2020 2020 2021 Total $m # of Deals 140 132 154 149 Source:/VC-Meitar The Israell Tech Review Q1/2021"

The details make for stunning reading. However, this is not a freak trend.

The same day as this news was released, we also learned that:

2021 will hopefully be a year of significant growth for the Israeli economy, partially on the back of a rebound from covid and partially due to the start-up sector. Here’s looking to an even bigger and better 74th birthday party!

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