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Israel Tech Thrived in 2016, Looks Forward to 2017 Thrills

(Photo: flickr/philipbrookes)

Israeli tech companies boomed in 2016, and experts from the tech community say Israel is well prepared to continue this progress in 2017.

In the first nine months of the year Israeli high-tech companies raised a total of $4 billion in 510 deals, 27 percent above the $3.15 billion raised in 491 deals in the first nine months of 2015, and only 7% below 2015’s record of $4.3 billion, data provided by IVC Research shows. Fifty-seven percent of these deals included at least one foreign VC investor.

And while the IPO market stalled this year as fewer companies sought to raise money on the financial markets, merger and acquisition deals abounded, with investors buying Israeli companies and Israeli companies buying local and foreign companies…

“Every industry is going through the digital transformation. It changes our economies, society and environment,” said Orna Kleinmann, managing director of SAP Labs Israel, in an email message. Three-dimensional printing will continue to disrupt manufacturing and product development; bots, smart personal assistants and augmented and virtual reality are changing the user experience; and cybersecurity threats are growing, leading to smarter solutions led by big data and machine learning advances, she said.

“Israel is well positioned for these trends, taking the lead in security, machine learning and natural language processing,” she said, alongside its leadership in big data technologies and IoT.

Tags: Israeli Innovation

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