As our team has just come back to Ukraine after a promising roadshow in Tel-Aviv, it’s worthwhile to give credit to Israel’s achievements in the sphere of technology by highlighting them in this article.
Let’s begin with viewing the facts why this country has become so attractive in building business partnership related to information technologies.
It is no wonder that during the visit to Israel you will surely install new mobile applications to jump on the bandwagon of the social environment.
A couple of years ago the traffic and navigation apps as Waze and Moovit could be the ones. Then you could switch to photo editing apps like Facetune or Enlight. Talking of today, Israel is being called “Start-up Nation” as well as “Silicon Wadi”.
Such achievements attract huge investments. For example, $15.3 billion is definitely one of them, bringing the most significant high-tech business transaction in the history of Israel. This amount Intel paid for the technology company that developed the vision-based advanced driver-assistance system Mobileye in March 2017. Intel chose Mobileye hoping that the purchase will make it as a leading technology player in the booming self-driving car market.
In addition, over 300 transborder companies with a high-tech research center are located in Israel. Microsoft, IBM, Apple, Cisco, HP and older Intel centers are far from the complete list of them.
Eugene Kandel, the CEO of the Start-up Nation Central, working on connecting startups with investors declared: ‘The message to investors not yet investing is: It’s no longer unicorns, it’s really big guys,’.
Koby Simana the former CEO of IVC Research Center, the leading source of information on Israel’s high-tech, emphasized that the Mobileye deal had attracted international attention.
He said that he is sure that transactions from a few hundreds of millions to billions of dollars spent on an organization are “a big quantum leap for the industry. That puts Israel on the big players’ map.”
There are other notable transactions of the last 10 years which are worth mentioning. For example, the acquiring of Waze by Google for over $1 billion in 2012, the selling of the security software company Trusteer to IBM for $1 billion in 2013, and Cisco’s acquiring of the mobile phone software company Intucell for $475 million in 2013.
Development of Health Technologies
As ISDDesign’s work is mainly devoted to healthcare IT development, let’s now review Israel’s achievements in the healthcare industry.
To start with, the country’s health system is highly developed according to international standards. It is also considered that Israel is a research and development hub for healthcare and biotech startups. Through the high development of medicine and innovation, this country’s healthcare field draws the attention of technology organizations and those who are willing to invest in it. The healthcare consumer market opens prospects for up-to-date technologies and solutions.
Israel is at a high level in the utilizing of the EMR systems which are multifunctional and interoperable. Each Israeli resident has a magnetic membership card that is widely available. This card is made to trace all the members’ transactions. An all-around, well-integrated health information and communication system is provided by The Ministry of Health. There is an increasing number of old-aged people in Israel. Consequently, products helping patients monitor their state of health at home are in demand.
The country has great digital health tech base at its disposal and it is an undisputed world leader in mobile and E-health realizations. There is a demand for more advanced drug monitoring and illness observation nevertheless.
Israel as an area of high-tech business opportunities
Today’s high-tech boom taking place in the country gives Israel a chance to become a strong player in lots of areas where traditionally the country hasn’t been successful.
‘Traditional definitions of high-tech and low-tech are out of date,’ declared Avi Hasson, the incumbent Chief Scientist of the Ministry of Economy. In his opinion, all the things are becoming technologized, and each of the existing sectors benefits from innovation.
The country’s high status in innovation is evident. In the latest World Economic Forum’s global competitiveness index for 2017-18, Israel moved up 8 places into 16th. Out of 137 countries, Israel appeared to be the only new one to burst in the top 20.
Avi Hasson speaks of Mobileye and other autonomous driving technology companies explaining how Israel is able to enter absolutely new industries. He says that a decade ago the country wasn’t a participant of automotive. He is sure that today it’s a leading participant. In his opinion, the reason for it is that the car has become digital, connected and autonomous and relevant Israeli professionals realize how to do that part even if they are not automotive experts. The same is relevant to digital health and many sectors where the participants are seeking for innovation. He thinks that the country is excelled as a place to go if you’re considering expanding.
Our experience from the recent roadshow to Israel
After a recent visit to the country, we are willing to share our impressions about this trip with you. It is worthwhile to say that one of the tasks in front of us was attending the Israeli Ukrainian Innovation Expo which took place in Tel-Aviv from 18th to 19th of March.
During these two days businessmen, innovators, venture capitalists and many other professionals involved in startups in Israel and Ukraine, gathered under one roof to present their business activities and share their successful experience.
We spent the days of the event taking part in meetings with participants regarding possible business cooperation. In addition, our COO Andrey Yuschenko gave an informative presentation on ISDDesign and its services.
Besides taking part in the expo, for self-improvement, we also visited Rabin Medical Center (RMC) which is a major hospital and medical center located in Petah Tikva, Israel. RMC is the only place in Israel where multiorgan and live-donor liver transplants are performed.
The rest of the time we devoted to meeting current and potential clients.
To complete the article, we want to say that, from our experience, building a fruitful cooperation with Israeli business partners is real by means of a good relationship founded on mutual esteem. That’s why we are absolutely sure that you should do a roadshow in Israel if you are an IT company considering expanding.
We are looking forward to close collaboration with our new Israeli leads which will contribute to the associated company growth, and professional development. Undoubtedly, this promising roadshow has inspired us to greater efforts.