Aside from the hype & publicity stunts, manufactures and investors aren’t about to boycott one of the world’s most innovative countries on the whim of its enemies.
By David Green
It’s no secret that some of the most innovative creations and technological advances over the last few decades have been dreamed up and created in Israel. From updates to the F-16 fighter jets of the US Military, to Microsoft’s infamous Intel technology and much of the technological prowess behind Apple’s iPhones, there is no shortage of Israeli innovation throughout the modern world.
Just walk through Tel Aviv and you’ll see the amount of investment going into new office blocks and ventures. Cranes, well-heeled investors in suits and modern day entrepreneurs in jeans; it seems everyone is joining in to get a piece of the success.
Being in the ‘age of the startup’ hasn’t done any harm to the Israeli startup and business markets either. For example, having a new method to do old things, like the technology that powers Waze, a popular ‘community navigation’ app on IOS and Android which seamlessly guides its users around traffic in whichever city they are in, the reach of the innovation provided by Israelis is remarkable. Such is the success of Waze that it was bought by Google for $1.1bn in 2013.
It’s not just high-tech that is benefiting from Israeli success stories. Much of the technology used in the UK by large sites providing financial serviceslike payday loans, mortgages and service comparisons use algorithms and even programmes that were developed, created or manufactured in Israel.
Something else that never fails to amaze the masses is the successes that the Israeli market enjoys around the world. For example, go to any of the networking events in London held throughout the year and you are sure to see countless representatives, CEOs and CMOs of more than a few Israeli companies. Also, the chances are that their stand will be extremely popular with others from all walks of whichever industry is present. The fact is that those involved with Israeli startups are masters of innovation, networking and especially schmoozing.
It’s not just the ‘typical’ young and edgy networking events in East London that see a large proportion of savvy Israeli startup businesses. Even smaller such events in North, South and West London see a great deal of startups coming over from Israel.
Also, with the UK economy becoming stronger, more reliable and far more successful, investors from the UK are more willing to put some of their money into something they see as a sound investment with real potential and this is something the Israeli market thrives off.
Even the UK Prime Minister, David Cameron, has seen the benefits of investing in the Israeli market. Earlier in 2015 he pledged millions of pounds of additional investment in the Israeli hi-tech, economic and biological ventures. According to the Foreign Trade Administration at the Israeli Ministry of Economy, as of 2014, trade between Israel and the UK was worth more than $5bn, with around $4bn of that being exported from Israel into the UK. The trade between the two nations in 2014 also saw a 10% rise in the value of the trade, compared to that of 2012.
Another clear benefit to the Israeli market is that anti-Israel movements such as the BDS are having less and less effect on visitors and investors alike. From Rihanna and Sir Paul McCartney, to Google and Marks and Spencer, there are more and more well-known names and brands shunning the said movements. After all, why would you simply abandon such a successful and lucrative market on the say so of its enemies?
So, with the combination of a stronger UK economy, continued innovation throughout Israel, stronger ties with the UK and decreases in popularity for groups seeking to damage trade with Israel, it’s looking like more and more of our everyday and luxury items could see yet more improvement coming their way soon.
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