Yoav Chelouche: "Not enough Israeli money investing in high tech"Oct. 20, 2013
“The paradox is that there is not enough Israeli money investing in our biggest industry,” said Israel Advanced Technology Industries (IATI) managing partner, Yoav Chelouche, who led a panel dedicated to high-tech offerings at the "Globes"-Ernst & Young 2013 Journey Conference in Tel Aviv today.
Chelouche said: “Most of the money comes from foreign investors, and that’s a shame. I hope that the Israel Securities Authority (ISA) and the Tel Aviv Stock Exchange’s (TASE) joint R&D committee will lead us to a situation where Israel has a good base, technologically and financially, for such companies.”
TASE Economic Department head, Hani Shitrit Bach, presented the main recommendations of the R&D committee, whose goal is to encourage high-tech public offerings, and whose conclusions will be submitted in-full soon. “There are 514 companies on the TASE, 135 of which are high-tech companies, but that is not enough, because we are ‘start-up nation,’” she said. “There are some companies that leave Israel, and others that are acquired by American companies, and we end up missing out on the younger generation, and the ability to develop a healthy high tech industry.”
For the full Globes news item click here.