Experts Debate how Billion-Dollar Firms will Change Israel

Video Of The Week -Israel's Golan Heights Targeted by Iran https://tinyurl.com/4sybnuvy

For the full Article go to Times Of Israel - https://tinyurl.com/memrvpd7

A critical mass of mega-valued global tech companies based in Israel may create a whole new local ecosystem in the coming years

By SHOSHANNA SOLOMON 3 November 2021, 3:08 pm

The face of Israel’s future economy will be completely different from that of previous decades, experts say, because of a critical mass of billion-dollar tech companies, or unicorns, that have flourished within its borders.

“What we have seen since October 2020, when the surge in valuations of Israeli tech firms started, will lead to a seismic change of Israel’s economy in the coming 10 to 20 years,” Sagi Dagan, VP and head of the Growth, Finance and Strategy Division at the Israel Innovation Authority, said in an interview. The Israel Innovation Authority is in charge of fostering the nation’s tech ecosystem and setting out government policies.

The onset of the COVID-19 pandemic, which has underlined the importance of technology and innovation for the survival of businesses, coupled with record-low interest rates and governments propping up their economies with cash injections, has triggered record investments in tech firms globally and has prompted a surge in the global creation of tech unicorns, privately held companies worth at least $1 billion.

Israeli-founded tech unicorns account for some 8% of this global phenomenon, as its entrepreneurs, once known for creating technologies and selling them off quickly to the highest bidder, are now holding on to their fledgling firms in a push to create large and hopefully profitable businesses.

“Israel accounts for some 8% of global unicorns, but for just 0.1% of the global population. So, we are punching some 100 times our weight in the world,” said Aharon Aharon, a former CEO of the Israel Innovation Authority, in a phone interview.

Many of these Israeli founded unicorns are being set up in Israel and managed from Israel. “Twenty years ago, when Israeli startups got big investments from foreign investors, they would get a US manager and they would move their headquarters to the US to be close to their market and their investors,” said Dagan. “Today, this is not the case.”

The pandemic has shown that the closing of business deals and funding can be done completely remotely, and so founders are staying in Israel and growing their companies from here, employing not only core research and development teams of engineers and programmers but also sales and marketing staff, accountants and lawyers.

“This is very different from what was before, and very positive,” Dagan said. There is now a “critical mass” of giant tech firms in Israel, he said, the likes of which not many countries have. “You have the US, China, Israel, the UK, Singapore, and Tokyo. This concentration of firms in Israel will help draw even more unicorns, who will choose to set up their HQ locally. This is leading to the development of a whole new ecosystem, which specializes in providing services to these large tech firms – from managers to lawyers to consultants and banks.”

NEW ,VIEW OUR WEBSITE WWW.BRITISHISRAELGROUP.WEEBLY.COM

Israel a Reliable Power worth Copying

 Video Of The Week -Israel Innovations Saving Humanity - https://tinyurl.com/y6xl5spf

JPost, Full Article, By Yonatan Freeman  9-1-2021, go to; https://tinyurl.com/y3wsoycx

Whether through an icon such as Gal Gadot, or increased interest in her country’s battles against COVID-19, there has been an explosion of those in the US and around the world wishing to better understand Israel’s culture and values. Israel’s soft power is booming.

Historically, the concept of soft power, the ability a country has to project its value and appeal through ethics, legitimacy and culture, has infrequently been seen as an integral feature of Israel’s democracy, whether by its decision-makers or the international community. This has now changed.

·       Israel is no longer viewed as a liability by foreign actors but rather a reliable power worth copying and mimicking. Countries in the Arab and Muslim world, which have historically been distant, hostile or silent towards Israel, are even rethinking their policies and betting on Israel to give them solutions when it comes to challenges such as the novel coronavirus. It is no longer “Palestine First,” but rather Chad, UAE and Sudan first.

 There are many possible reasons for the growing positivity of Israel. Some point to the financial benefits of doing business with a strong economy not dependent on a natural resource, while others point to Jerusalem’s ability to face threats such as Iran. Nevertheless, perhaps what the world is more and more coming to terms with is Israel’s resilience in dire or changing times. The current battle against COVID-19 is one of those crucibles.

 The war against the coronavirus is global. And undoubtedly, it may be the first world war that Israel is experiencing since its independence. But unlike previous wars, there is still uncertainty as to who the enemy is, how he works and how he kills.

 That is why mistakes are still being made, even in Israel. That is also why it isn’t yet possible to proclaim who has succeeded or failed in the fight. After all, what constitutes being successful against the coronavirus? How can one make conclusions when the global fight isn’t yet over?

 Some point to the inability to stop the spreading of the virus as being a failure. Still, to what extent can one know for sure how to protect against an agent known and studied for less than a year? Others point to economic hardships as being a measure of failure. But is there really a country that has been financially less affected due to this pandemic? Even if a country could have stopped the spread of the virus, there may have been a continuing economic impact resulting from the increase in government spending to weaken its advance, the slowdown of international trade and travel and the increasing fights between the US and China. Although vaccines are coming off the assembly line, the implications of the war against the coronavirus may be far from over.

 This isn’t the first time that Israel has needed to adapt to a new threat. When buses or missiles began blowing up in her midst, many around the world feared coming to the country. It was argued that it wasn’t safe. In time, Israel proved that, sadly, the more it experienced attacks, the more there was a strengthening of her ability to defend against them.

 As these words are written, Israel is racing to gain more knowledge about the contagion, using available vaccines to curb its lethality, and investing resources to develop a vaccine of its own. It is precisely at these moments that Israel has an edge.

 The world is thus well aware of Israel’s resilience and wants to learn more about the tools at her disposal. They are betting on her to lead the fight to win this present war, because Israel’s capabilities have been molded and strengthened by emergencies of the past. Even in the face of threats, boycotts and immense changes, Israel has always been able to strengthen its economic, diplomatic and military might.

 That is what many see in Israel during these times. World actors see the potential that Jerusalem and her values have in making a difference in the global fight against the coronavirus, all while finding the right balance between security and liberty. These are the sort of times that cause friends, as well as current and past foes, not to write Israel off. They are well aware that if they did, they would be writing off one of the world’s best hopes for beating the virus.

 The writer holds a doctorate, is an international relations expert and a lecturer in the Department of Political Science at the Hebrew University of Jerusalem.

 NEW ,VIEW OUR WEBSITE WWW.BRITISHISRAELGROUP.WEEBLY.COM