Israel stands firm in its unyielding battle against terrorism, a reality that we acknowledge and confront with relentless resolve. Amidst this struggle, our nation's technological prowess remains robust and unassailable.
During these challenging times, Israel’s tech ecosystem stands strong and proud. Businesses continue to serve and delight their customers, as always.
Resilience isn’t just a slogan. It’s the enduring spirit that has made Israeli tech what it is today.
Israeli tech companies deliver.
Resilience is one of the primary characteristics of the Israeli tech ecosystemThe Israeli tech ecosystem has flourished over the years due to resilience, agility, and boldness. It is precisely these characteristics that strengthen us, even at times of great difficulty. This is the story of Israeli tech. We always deliver. And when obstacles get in our way, we overcome them, always.
Israelis have been through crises before and have always maintained business continuityThis was true during earlier rounds of conflict, as well as during COVID, and economic crises. Israeli companies have always displayed the agility and speed needed to make the necessary adjustments to keep business as usual. Today is no different.
Israeli tech is a mature ecosystem with vast experienceTech leaders are well versed in crisis management - whether it's related to conflict, economic turbulence, or other factors. know how to work through it and deliver.
Israeli tech is already adapting to a “new normal”Yes, there is trauma and an ongoing conflict. But even with that, we are already close to being back to full operation mode - offices are open, the vast majority of the workforce is active (only 10-15% have been called to military service), and companies have made the necessary adjustments in order to continue delivering their service at the highest level to customers worldwide.
Israeli tech companies are agile and acting swiftlyWe are ready to maintain normal operations, even if the war continues for some time. Tasks and roadmaps are being prioritized, and companies with global team members are providing redundancy from abroad where needed.
Israel is not a warzoneThe Iron Dome allows Israelis to sustain a fairly normal day to day. We can all work remotely, allowing all available team members to work together effectively from the office or home.
Innovation won’t stopThere is a rich history of transformative companies and products that have grown out of the Israeli tech ecosystem during and after periods of crisis.
We’re not aloneOver 450 multinationals have a presence in Israel. Their ongoing support and commitment highlights the confidence they have in our ability to always deliver. (Examples include Google, Microsoft, Amazon, Nvidia, Meta, and many others).
Government supportThe Israeli government has always been active in supporting the Israeli Tech ecosystem and is now allocating funds to ensure the health of our world-renowned tech scene.. In fact, the Israel Innovation Authority has already issued an emergency funding plan extending $100 million in special aid to startups. This aid is just the start and is expected to grow significantly.
The short answer is yes. Israeli companies are strong, resilient, and committed to delivering for their customers and partners. They have adapted to a “new normal” and are able to continue business as usual, even during such a challenging time.
The tech workforce has been impacted by only 10-15% due to military service. Most companies have the vast majority of the team and leadership focused on business continuity. Where individuals are unavailable, swift handovers to fellow leaders have been done to ensure that the business continues to function and flourish. In addition, many experienced industry leaders are volunteering their time to support younger companies during this time.
Prioritization is key. At times like this, Israeli business leaders are well-versed in prioritizing and execution. Commitments will be met as companies continue to deliver.
Steps are being taken by the Israeli government and investor community to ensure that good companies have enough runway to get through this period.
During the past decade, Israel’s tech sector has become the largest and fastest-growing industry in the Israeli economy attracting huge investment from abroad. While investment has slowed over the past year due to global economic uncertainty, Israeli companies continue to innovate and offer great investment opportunities.
All Israeli companies continue to operate fully and have adapted to a new normal. Offices remain open and are safe for employees and visitors as they all contain protected safe rooms whenever necessary. Iron Dome allows Israelis to sustain a fairly normal day to day.
At this stage it’s hard to predict how long this war will last, but it’s important to emphasize that the Israeli tech ecosystem has already adapted to the situation and has what it takes to provide business continuity even if the war doesn’t end swiftly.
The short answer is yes. Tech companies are transferable in nature and can shift operations where needed to ensure business continuity. In fact, many companies already have redundancy in key functions spread over multiple locations worldwide, while others made this shift swiftly after the war started.
Much like wider Israeli civil society, the local tech community has supported the war effort in multiple ways including logistics and technology. While startups are giving their time and expertise, this is coming in addition to the normal running of their businesses. Maintaining a strong tech ecosystem is viewed as equally important to Israel’s long and short-term resilience.
More than anything else, please show your support by continuing to do business with Israeli companies as you have done.
The Israeli economy is strong, stable, and based on solid foundations. In the past, it has demonstrated its ability to recover from difficult periods. Prior to the war, the Israeli economy had a current account surplus, a low debt-to-GDP ratio, and high foreign exchange reserves. Economic activity in Israel was at a high level, despite some moderation in growth that was recorded in recent months. The labor market is tight and in a full employment environment.