CosmicTaco

Israel's Startup Scene Shows Resilience Despite Nine Months of War

CosmicTaco · 2024-07-18T16:29:19.615882+05:30

- The conflict between Israel and Hamas has made Israel's startup and VC ecosystem more resilient, particularly in the cyber and AI sectors. - The tech sector is a major part of Israel's economy, employing over 14% of the workforce and contributing more than 18% of the GDP as of 2022. - Since the start of the year, 11 companies, mainly in cybersecurity and AI, have been acquired for over $2 billion, including notable acquisitions by Nvidia and Blackstone. - Despite resilience, venture capital investments in Israel have dropped over 70% year-over-year, and many tech employees were mobilized for the war effort. - Cyber-attacks have tripled since last October, costing Israel over $3 billion, but the country's strong cybersecurity industry has been crucial in defense. Source: Techcrunch

The conflict between Israel and Hamas has made Israel's startup and VC ecosystem more resilient, particularly in the cyber and AI sectors.
The tech sector is a major part of Israel's economy, employing over 14% of the workforce and contributing more than 18% of the GDP as of 2022.
Since the start of the year, 11 companies, mainly in cybersecurity and AI, have been acquired for over $2 billion, including notable acquisitions by Nvidia and Blackstone.
Despite resilience, venture capital investments in Israel have dropped over 70% year-over-year, and many tech employees were mobilized for the war effort.
Cyber-attacks have tripled since last October, costing Israel over $3 billion, but the country's strong cybersecurity industry has been crucial in defense.

Source: Techcrunch