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While software leads in private capital raising with 32% of the total amount of funds raised, Israel Innovation Authority’s grants focus on healthcare and medicine which comprise 32% of the total Innovation Authority grants. The Innovation Authority grants also tend to focus on less familiar sectors such as agriculture and food, energy, and environment which are less popular in the private sector, despite their potential to significantly contribute to the market and for becoming the next technology trend[1].
Thanks to this active encouragement to entrepreneurial culture and the thriving technological landscape in the country, the Israel high-tech industry continues to produce about 1000 new innovative companies each year. Currently, it houses over 9500 companies in this sector.
[1] Investing in Progress, Israel Innovation Authority 2019: https://innovationisrael.org.il/en/reportchapter/investing-progress
What Drives Us
There is also a significant increase in the number of fintech, cyber and digital health companies, and in capital raised by foodtech companies. These sectors are at the cutting edge of global innovation, and have been promoted by the Israeli government through various government initiatives[1].
Alongside the development of new technological sectors, the dynamic nature of the Israeli innovation ecosystem is also reflected in its ability to quickly reduce activity in fields that are more mature. There is a significant decrease in the amount of capital raised and the number of active companies in communication technologies, as well as a decrease in the volume of capital raised for e-commerce. This may suggest that these sectors have matured and face more vigorous competition in the global innovation arena and are thus less attractive for private capital investments.
[1] Israeli High-Tech in 2019: Prosperity and Challenges; Israel Innovation Authority: https://innovationisrael.org.il/en/reportchapter/israeli-high-tech-2019
Africa will develop thanks to the efficiency of the Israeli approach, cheap, secure and sustainable!