2013 boom year for Israeli high-techDec. 30, 2013
2013 was a positive year for Israeli high-tech and biotech, in almost every respect: total investments rose, salaries rose, and there were some impressive exits. According to human resources and research company Ethosia, the mobile sector is still guiding the industry, and despite some worrisome signs, there is still room for much optimism.
According to the data, in the first half of the year, there was a 52% rise in demand for mobile and web developers. This trend continued for most of the year. Start-ups founded this year succeeded in raising over $380 million, with Internet companies accounting for 25% of the funds raised. Web and mobile companies have surpassed the fundraising levels of communications and semiconductor companies, which had been the dominant leaders until now, by tens of percentage points.
The sale of Waze to Google for close to a billion dollars deeply affected the job market in Israel over the summer of 2013. As indicated by the data gathered by Ethosia’s research team at that time, the closing of the deal brought about a 40% rise in demand for mobile developers, and increased the fundraising figures in traditional software companies, which develop products for enterprises, as well. But Waze was not the only Israeli company to have an impressive exit over the past year, in which exits totaled $4.9 billion.
Trusteer, which provides software solutions that help companies defend themselves against financial fraud and security threats, was sold to IBM for $900 million, and biomed company Prolor was sold for $480 million. Many other Israeli companies were sold for practically unheard of amounts.
For the full Globes story click here.