Did you know Israel’s capital flow was almost 30 times that of the U.S. in 2021? The country’s success within the tech startup scene has helped the country prosper, including raising billions of dollars through successful deals and investing almost 5% of GDP into R&D. In fact, 84% of the Middle East and North Africa’s total venture capital funding went to Israel in 2021.
Tel Aviv specifically experienced great success with startups alone having collected $20 billion for the country as well as gaining 30 new unicorn companies in 2021. The country as a whole has the second highest world venture funding with $959 billion. This business success can be due to the multiple government programs, tax incentives, intellectual property incentives, and employment aid programs the country created in favor of entrepreneurs and innovators. Additionally, the signed Abraham Accords work in Israel’s favor in terms of allowing easier economic relations with the Middle East. Currently, one tenth of the world’s notable unicorn companies are located in Israel, including OverWolf, Ermetic, Onavo, and Waze. With an already strong history of incredible innovation and domination of all technology sectors, there is no doubt the Israeli tech ecosystem will thrive for many years.