High-powered Israeli High-Tech Market
Having earned the title the “Start-Up Nation,” Israel has been known for quite some time as one of the most concentrated geographic centers for technological innovation. Although it has a population of just in excess of 9 million and had a nominal gross domestic product, or GDP, of approximately $395.1 billion for 2019 (as reported by the World Bank), Israel has been one of the most successful countries in developing technology. Under the OECD R&D Intensity Index (which measures research and development, or R&D, investment as a ratio of GDP), Israel continues to hold a leading position, sharing first place with Korea, with its national spending on R&D being 4.5% of the GDP. According to the Israel Innovation Authority’s annual report for 2019, which we refer to as the IIA 2019 annual report, over the last decade, the fertile ground of Israeli entrepreneurship has yielded over 750 startup companies every year.
Dynamic, adapting Israeli high-tech ecosystem. Israeli entrepreneurs continuously manage to position themselves as global leaders in a variety of fields, repeatedly being able to identify the emergence of new trends and segments early on, maintaining Israel’s position at the forefront of global innovation.