Israel has emerged as a world leader in the technology sector, especially with regard to tech startups. Israel’s high-tech companies generated $14.95 billion throughout last year, which followed a 3X increase in IPOs from 2020 to 2021.
Israel and Its Impact in the Technology Sector
Now, career and college experts College Cliffs has conducted research into the recent impact of Israel in the technology sector, with the results compiled into a series of Israeli tech infographics by design agency Nowsourcing. Here we summarize the findings for some insight into Israel’s growing influence on the technology sector.
A Hub for Research and Development
You can clearly see the impact of Israel’s tech sector by the companies who have research and development centers hosted in the country. Amazon, Facebook and Apple have such centers in Israel, as do other tech specialists such as Intel, HP, Samsung and IBM.
In fact, Israel is ranked #2 in the world for research and development expenditure per capita. The country also invests 4.1% of its GDP into research and development, which is twice as much as the OECD average.
There is also a significant number of innovation centers in Israel operated by companies such as Anheuser Busch, Citi and Volkswagen.
Israel’s Startup Ecosystem
Israel has a lot of potential for startups, and is ranked #3 in the world for the number of AI machine learning startups. That potential is growing rapidly too, with cybersecurity startups raising $8.8 billion in 2021, which was three times the amount raised in 2020.
The startup value of Israel has already reached $120 billion as of 2022. Plus, since 2021 the patent count has increased by 169%, further demonstrating that the massive startup potential of Israel’s tech sector is already being realized.
Venture Capital Funding in Israel
Such an exciting startup ecosystem has attracted a lot of investment, with 84% of the Middle East and North Africa’s venture capital funding going to Israel. Many American venture capital firms also have offices in Israel, and likewise many Israeli startup founders have moved headquarters to cities in the United States.
Israel has emerged as a world leader in the technology sector, especially with regard to tech startups. Israel’s high-tech companies generated $14.95 billion throughout last year.Read MoreSmall Business NewsSmall Business Trends