U.S. credit card super-company, Visa, has elected to tap into the fintech industries of select countries, and Israel is a primary focal point. The payments giant launched a technology scouting hub in Tel Aviv this month, announcing at the beginning of February that it aimed to add Tel Aviv to a list of cities that make up its collaborative lab operation.
A major focal point and trend for corporations and major metropolises in the world’s developed countries today is that of so-called smart-city technologies. Smart-city tech is a term that refers to any technology consistently being used to improve municipal infrastructure. These innovations typically manifest as upgrades to existing technology and tools already in use for a myriad of daily public functions.
OurCrowd is a leading, crowd equity platform based in Jerusalem with branches in the U.S., Canada, Singapore and Australia. The firm just wrapped up its biggest investor conference, which involved an exhibition of the latest robotics, drones, medtech, AI, and mobility tech. Jon Medved, CEO of OurCrowd, made headlines with his announcement that OurCrowd raised $650 million, anticipating that they will soon break the $1 billion ceiling this year.
As late as 2015, Westerners were still just coming around to understanding what QR (Quick Response) codes were—a two-dimensional barcode originally designed in Japan for the automotive industry. It was an ambitious, Israeli startup called Visualead that was already revolutionizing the technology that year.
Born in Israel and resident of the U.K., Teddy Sagi has been an integral facet of recent rounds of funding in Israel. Chiefly, Sagi invested $3 million in SmartGreen Ltd., which was announced by Sagi’s business group. He’s something of a British business magnate. His mobile ad firm, Glispa Global Group, generates considerable revenue, as does his online gambling game developer, Playtech PLC.
At present, Elbit Systems (ESLT), an Israeli defense electronics company, is under scrutiny due to the apparent prospect that the firm may intend to acquisition Israel Military Industries Ltd., which has caught the attention of the Israel Antitrust Authority.
The world’s affluent elite have, for all intents and purposes, been ravaged by a Bermudan law firm’s release of the so-called Paradise Papers. The international scandal cast a brilliant light on the dark recesses of the global economy: tax havens shielding billions upon billions of dollars from the tax codes of various countries.
The Israeli tourism industry continues to smash old records well into 2017. In the first 10 months of this year approximately 3.2 million visitors came to Israel. This represents a 27% increase from the same period in 2016.
Yissum Research Development Company has brought a great deal of attention to Hebrew University of Jerusalem in the past week with their introduction of new technology capable of 3D-printing customized food. The personalization of printed food relies on nano-cellulose, which is a naturally occurring, calorie-free fiber. It is arguably the most intriguing aspect of this already attractive prospect.
This year’s third quarter marks an impeccable period for fundraising deals in the Israeli tech industry. The sector raised $1.44 billion, which represents a 54 percent increase from the same quarter last year according to the latest report from the Tel Aviv law firm, Zysman Aharoni Gayer & Co., and IVC Research Center. Software companies accounted for a fourth of total market capital, which is actually a considerable decline from the two-year average of 35 percent albeit still significant.
