Israeli high tech – what next?

Mobile tech, software, cleantech, nanotech, etc – Israel has played a leading role in all of these mini industrial revolutions. Israeli hightech accounts for over a third of the local economy’s output.

In the past year, some analysts have been wondering if this “boom” can last. After all, so few companies have gone on to become mega corporate commercial successes. Seed money appears to have dried up. Some export markets, particularly in Europe, have yet to fully emerge from the credit crisis, possibly threatening future growth.

There again, maybe the next chapter of the story will be more positive than ever. Over 50 Israeli companies took part in the recent World Mobile Congress. Intel is now looking to fill an additional 1,000 positions in the country, Celltick has announced plans for 100 new posts. Multinational based in Israel, such as IBM, are rushing to register patent.

These are not isolated islands of success. Only yesterday, Wells Fargo announced that it intended to raise its investing presence in Israel.

And a concrete illustration of what can be achieved was given by  “iwaymobile“, a start up led by an investor and a former mayor from a poor development town. After 3 years of quiet development work, iwaymobile has yesterday launched an internet system for cars. The geek websites are twittering the news all today.

If there is a bottom line in all of this, it probably focuses on the word “innovation”. Israel is a society that encourages people to think beyond problems. This means that in tandem with sensible montary and fiscal policies, the pioneers in hightech know that they can continue to progress safely.

Explore posts in the same categories: Business, Israel

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