Israel in June 2016: Challenging Silicon Valley as tech funding climbsJun. 28, 2016
Israel, as Eric Schmidt said last week in a fireside chat at Google Tel Aviv, is producing an unprecedented level of innovation, which makes it one of the hottest places on earth to find new and exciting technology.
Enough has been said about the Israeli tech ecosystem over the years, but while the country continues to grow quarter over quarter in terms of both capital raised and valuations and acquisitions, I thought I would take a closer look at what is happening in terms of innovation. While the region continues to show signs of instability, the one thing that remains stable is Israeli innovation.
Israel has traditionally been known for its expertise in cyber security, understandable in a country in which everyone serves a mandatory three years in the army and which is facing serious cyber threats on a near-daily basis. However, the growth is still impressive — in June 2016 alone, Israeli startups have raised over $561 million in capital, across almost all verticals.