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Israeli venture capital sector is booming despite global decline
Life in Israel
Israeli venture capital sector is booming despite global decline

While 2016 was not a particularly strong year for the global venture capital market, the same could not be said for the sector in Israel.

“There was one country that has bucked this trend completely, and that country was Israel,” Jon Medved told thousands of people gathered at in the 2017 OurCrowd Global Investor Summit in Jerusalem last week.

Medved, the CEO of OurCrowd, was addressing participants in the convention that is hosted by his company, the Jerusalem-based equity crowdfunding platform for early- stage start-ups. While stock markets in all over the world were vibrant in 2016, this growth was less apparent in the global venture capital scene.

Yet Israel managed to accrue $4.8 billion in technology investments last year, achieving 120 per cent growth in the sector over the past three years, Medved said.

“You can make predictions about the future, but the future has a way of making its own history,” he added.

Medved did not shy away from making predictions, however, as to which sectors will stand out in Israel’s technology developments over coming years. Such areas will include machine learning, space technology, agricultural technology, digital health, sports technology, drones, robotics and autonomous driving, he said.

With the OurCrowd event in the capital, Jerusalem Mayor Nir Barkat spoke about how the municipality is eager to cement its role as a global leader of such technological developments.

Since biblical times, he explained, the city has been uniquely positioned as a hub for innovation.

“Jerusalem was the innovative city of the world, the centre of the world, an inclusive philosophy that holds everyone together,” Barkat said. “Folks, that’s not just the past.”

Click here to read the full article in Jerusalem Post

Thursday, February 23, 2017
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