Friday, May 6, 2016

Secrets of Israel’s High-Tech Economic Success

Israeli Consul Gili Ovadia
Israel has one of the most vibrant high-tech economies in the world. Every major U.S. tech company has acquired important technology by acquiring Israeli startups and that list of acquirers includes Google, Facebook, EMC, Cisco, Intel,  and IBM, to name just a few. Last year, Microsoft alone acquired no less than five Israeli startups. According to a study by accounting firm PwC, in 2015 Israel, a small country of 8 million people, saw 62 tech companies acquired for a total value of $7.2 billion, Among European nations, only Germany and Britain did better.  As Table 1 shows, in terms of deals per population, Israel stands alone, with 7.8 deals per million people, double the figure of Sweden and five times the level of Germany or Britain.