With over $25 billion dollars in debt and multiple lawsuits against it in the US, will this jewel of the Israeli marketplace be able to rise to its former glory?
The startup nation shows no signs of slowing down, generating some 1,400 new startups each year with soaring valuations and a healthy growing economy to back them. However, as the list of startups grows, it can be difficult to find those that are truly accomplishing something unique. In this post we detail 5 startups that are truly driving innovation.
In mid-November 2019 Tesla Motors registered a wholly owned Israeli subsidiary and began the process of breaking into the Israeli market. Meetings were set with the Israeli ministries of transportation and energy and a spate of hiring began in Tel Aviv. Yet with such a small market, many wonder if demand will justify Elon Musk’s most recent move.
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.
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.
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.
Israel’s economy has long been heavily reliant on tourism. With the holy sites of Jews, Muslims and Christians, there is an almost unlimited tourist potential. For decades, the tourist industry has focused on group tours, travel packages and generic activities, with a small niche catering for high-end luxury travel. But in the past few years, a new breed of tourism providers has emerged, catering to budget travelers, independent backpackers and those alternative tourist experiences.
The Chief Scientist Office in the Israeli Ministry of Economy has long been seen as a model of success. Aiming to foster economic growth through technological breakthroughs, cutting-edge research, innovations and entrepreneurship, the office regularly gives out grants in the form of low-risk loans, only demanding the investment money back if the project is successful and financially viable.
Worldwide attention has been focusing recently on the Tamar and Leviathan natural gas rigs off the coast of Israel with new deals and exciting speculation every few weeks.