2021 Record-Breaking Year for Israeli Tech
2021 was a great year for Israeli tech. Raising a staggering $25.4 billion between January and November. Up 136% from 2020, which itself was a record-breaking year. As of December 15th, Israel is home to 79 Israeli startups or privately held companies that are valued over $1 billion. 41 of them came into existence in 2021. Israel believes 2022 will be a record breaking year of Israeli startups buying other companies. In order for Israeli companies to grow faster, they will need to make several acquisitions.
Israel is benefiting from decades of proving to the world that they are the center of tech innovation. This is why Israel is called not the Silicon Valley, but the Silicon Wadi. While the rest of the Middle East made their money in oil, Israel was developing a tech hub. Today, countries like Saudi Arabia, the UAE, and Bahrain are struggling to catch up to Israel’s burgeoning tech empire.
For more from Chris, visit foiradio.org to listen to our weekly radio program, The Friends of Israel Today.