Israel: A Safe Haven for Tech Startups

Israel has rapidly risen to become a largely known as a startup nation in the global technological industry. In 2021, Israel invested over 4% of its GDP into tech R&D, doubling similarly developed countries, and $4 billion was raised across 57 startups. This tech focus has enabled Israel to achieve the third ranked country for machine learning startups, along with second in R&D expenditures.

The rapid tech growth can be attributed to the Israeli-government sponsoring tech startups in a variety of ways. Israeli tech startups enjoy tax relief, grants, and capital venture invest programs, with further benefits for companies that create intellectual property. This commercial success is also driven by the Abraham Accords, signed in 2020. The Abraham Accords was signed by the U.S., the UAE, Great Britain, and others. Aside from creating new relations, the Accords also instantly generated 150,000 Israeli jobs with the potential for many more with other signers. Aside from companies, Israel has also produced various influential and innovative software engineers and computer scientists who have helped create the technology field of today. The more Israel furthers the tech industry with their new innovative startups, the more undeniable Israel’s global influence becomes. Especially in a world that is becoming more intertwined with technology everyday, Israel will likely be more and more crucial moving forward.

How Israel Has Emerged on the Tech Scene