Buzz

Israeli tech has had an amazing run over the past 10 years. According to IVC Research Center,  $39.1 billion was raised by Israeli tech companies in the past decade, with $8.3 billion raised in 522 deals in 2019 alone. VC-backed deals are at an all time high with over 30 Israeli companies in TechCrunch’s Unicorn Club.

While always known for developing game-changing technologies, Israeli startups are now swinging for the fences, as many are generating tens of millions in revenue and looking at IPOs as their ultimate goal, not just having a quick exit like in years past. Fueling this trend is the growing Israeli VC industry which is flushed with cash, as outside capital pours into the tech scene from the US, Europe and Asia. In addition, over 350 multinationals have a research and development base in Israel in search of top engineers and tech talent. Startup Nation is now Scale-Up Nation on every possible level.

Yet, the first quarter of 2020 is the start of a new chapter for Israeli tech. The outbreak of the novel coronavirus and the plunge the stock markets have taken across the world are creating a new reality for Israeli entrepreneurs and investors alike. Many of Israel’s top industries are already being hit hard, with Israeli tourism in complete free dive, as airports, hotels and restaurants are empty, or shut down, as a result of the Israeli government trying to limit the spread of the virus. If prior to this pandemic it was all about exponential growth, now it’s about pure survival for early stage startups. Read more