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Global economic uncertainties highlight Israel’s competitive edge

1.  Israel’s best quarter in seven years: A 52% rise in investment ($617MN) in Israeli start ups (135), compared with the first quarter of 2007 and a 23% rise in comparison with the fourth quarter of 2007. A decline is expected during the second quarter of 2008, in view of global economic uncertainties (Israel Venture Capital, “The Marker” and “Globes”, April 30, 2008). According to “Dow Jones Venture Source”, investment in Israeli start ups during the first quarter of 2008 ($600MN) was similar to China ($700MN) and India ($100MN) combined, compared with the $1.5BN for the whole of Europe and $6.8BN in the US (“The Marker”, May 25).

 

2.  Current economic uncertainties highlight the competitive edge of Israel’s high tech industries, as demonstrated by the sustained wave of investment in – and acquisition of – Israeli high tech companies. $64MN was invested in Ormat Technologies by institutional investors (The Marker, April 21). VMware, the world leading virtualization company, made its first Israeli acquisition ($15MN)  – B-hive Networks (The Marker, May 29). The British Micro Focus has acquired Israel’s NetManage for $73MN (Globes, May 2). Texas Pacific Group, the 2nd largest private equity fund, acquired 25% of Israel’s Strauss Group (coffee operations) – the 7th largest coffee manufacturer – for $288MN (Globes, May 5). Private Canadian investors acquired 50% of Israel’s investment bank, Hellman & Aldooby, for $33MN (Globes, May 20). InterActive Corp acquired Israel’s StarNet InterActive for $17MN (Globes, May 23).

 

3.  All time high defense exports (4th global exporter): $5.6BN in 2007, compared with $4.9BN in 2006. Israel’s defense high tech export shines, as evidenced by the lack of exported sizeable Israeli platforms. The US is Israel’s leading customer (Globes, May 29).

 

4.  Japan’s Yasakawa – the $2.7BN robotic giant – is establishing its first R&D center in Israel, joining over 200 centers constructed in Israel by global companies. $4.5MN was invested by Yasakawa during April 2008 (Globes, May 30).

 

5.  A private bio-tech US fund invested $40MN in Israel’s Vascular Biogenics (Globes, May 14). Menlo Park-based Canaan Partners led a $20MN 2nd round by Israel’s PrimeSnese (Globes, May 6). Roh Capital participated in a $20MN 3rd round by Israel’s Celtro (Globes, May 13). Carlisle, ATA Ventures, Dupont Capital and Global Catalyst participated in a $15MN 6th round by Israel’s Actelis (Globes, May 28). Benchmark co-led a $15MN round by Israel’s TVeez (The Marker, April 23). Graylock Partners and Coral Capital participated in a $10MN 4th round by Israel’s Red Bend (The Marker, April 23). Graylock Partners co-led an $8MN 2nd round by Israel’s Metiis (Globes, May 19). The US-based 21st Ventures invested $8MN in Israel’s TechnoSpin (Globes, April 28). Medtronics invested $7MN in Israel’s Ventor (Globes, May 13).

 

6.  Intel-Israel is constructing a $150MN power-station in Israel (The Marker, May 26).   

 

7.  Economic indicators, first quarter 2008: 5.4% GDP annual growth (5.3% in 2007), 12.6% annual export increase (8% – 2007), in spite of a weakened dollar, 18.7% annual import increase, due to a weakened dollar (The Marker, Globes, May 26).




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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