Reported 4 months ago
The Israel Innovation Authority reported that Israel's high-tech sector now contributes 20% to the country's economic output, urging the government to invest more in order to facilitate faster growth. Despite challenges like the recent conflict with Hamas and a tough global funding environment, the tech sector remains a key driver of Israel's growth, accounting for 53% of total exports. The report highlighted the creation of 600 new startups in 2023 and $8 billion raised by tech firms, emphasizing the importance of continued investment in innovation as Israel's most valuable resource.
Source: YAHOO