The recent terrorist attacks on Israel have been truly heart-wrenching, as we bear witness to the devastation they’ve brought and the innocent lives of kids, elderly, women, and men they’ve tragically claimed.
In the wake of the murderous events of October 7th, and the atrocious acts of violence against civilian populations, it is heartwarming to witness the world stand with Israel. It is evident in the unwavering support from the US, headed by President Biden and its unequivocal affirmation to the State of Israel’s right to defend its citizens, as well as similar statements made by leaders of European countries such as the UK, Germany, France, as well as the EU leadership and many other nations who publicly denounced those acts of terror and pledged their support of the Israeli State as well.
Along with the unwavering support from our allied nations, we also feel the warm embrace and support of the global Tech community. The greatness of a true ally and partner is evident in times of peace and growth, but it carries even greater significance when faced with challenges at times of need. In our darkest hours we were grateful for the letter of support sent by the Venture Capital Community and signed by over 800 VCs worldwide, expressing their hope that stability and safety can be restored, and for the safe return of all the hostages. Expressing their sincere hope for a time in which the talented entrepreneurs and startups in Israel are able to continue their vital work in shaping a better future for all.
In the spirit of standing with Israel, the signees of this statement encourage the global venture community to support and engage with Israeli startups, entrepreneurs, and investors as they navigate through these challenging times. They reiterated their belief in a brighter and more prosperous future for the region and pledged to continue enabling the talented entrepreneurs and startups in Israel to press on with their vital work.
We felt the embracing support when leading Israeli and global corporations such as Meta, Intel, Siemens, Google, and others announced their withdrawal from Web Summit in protest of its CEO’s repeated remarks against Israel. Stating that “We expect ethical and moral leadership, particularly in our esteemed global tech community, that can distinguish between terrorism and self-defense. Silence in the face of such overt acts of violence suggests a dangerous moral ambivalence.”
On behalf of the Israel Innovation Authority and the entire Israeli Tech hub, I’d like to thank all the tech leaders who took a stand, spoke out and were not deterred from acting against such statements and in support of Israel. These acts, as well as the numerous rallies and other forms of support that pour from all corners of the globe, are “the wind beneath our wings” as they strengthen our society as a whole and the Israeli tech sector in particular. They encourage us to keep forging ahead, innovating, developing, and delivering the technologies and solutions that will shape our collective future.
The Israeli tech ecosystem has flourished over the years and holds a pivotal position in bringing the world innovative technological solutions in numerous fields. Its innovative spirit is characterized by resilience, agility, entrepreneurship spirit and boldness. It is precisely these characteristics that strengthen us, even at times of great difficulty. Even during these challenging times, Israel’s tech ecosystem stands strong and proud and when obstacles get in our way, we overcome them, always. This is the story of the Israeli tech sector.
This was true during earlier rounds of conflict, as well as during COVID, and economic crises. Israeli companies displayed the agility and speed needed to make the necessary adjustments to keep business as usual. In other words, Israeli Tech delivers, no matter what.
Tech leaders are well versed in crisis management, whether it’s related to conflict, economic turbulence, or other factors. At times like this, Israeli business leaders are implementing prioritization and execution. Commitments will be met as companies continue to deliver.
Unfortunately, the Israeli ecosystem is used to work under crisis and uncertainty. But fortunately, all Israeli high-tech companies are built for worse-case scenarios.
We are strong, and as Golda Meir (the 5th Prime Minister of the State of Israel) said 50 years ago – our secret weapon is that we have no other place to go, so we can’t lose. This is ingrained in Israeli mentality, both in life and business.
There is a rich history of transformative companies and products that have grown out of the Israeli tech ecosystem during and after periods of crisis.
The Israeli government has always been active in supporting the Israeli tech ecosystem and is now increasing its investments to do just that. In fact, the Israel Innovation Authority has already issued an emergency bridge funding plan extending to some $100 million for runway extension of startups who were in the middle of a fund-raising round. This aid is just the start and is expected to be joined by additional measures designed to meet the immediate needs of the tech sectors as well as their future needs for the day after the war and beyond.
During the past decades, Israel’s tech sector has become the largest and fastest-growing industry in the Israeli economy attracting huge investments from abroad. While investments have slowed over the past year due to global economic uncertainty, Israeli companies continue to innovate and offer great investment opportunities.
Resilience isn’t just a slogan. It’s the enduring spirit that has made Israeli tech innovation ecosystem a beacon to the world.
It is for this reason that I call on the international tech and business sectors, to continue supporting and doing business with Israeli companies. Join our Tech Nation in creating the technological innovations that will improve the lives of all mankind and bring about a better and brighter tomorrow.
Your support matters.