Israel

Startup Funding for Q3 in Israel Tops $701 Million Despite Summer War

The Israeli tech website Geektime reported yesterday that despite Hamas’ rocket war against Israel this past summer, funding for Israeli startups remains strong. Geektime interviewed Koby Simana, CEO of IVC Research Center, to provide some perspective on the meaning of the numbers.

“We have been asked repeatedly about the effect of Operation Protective Edge on the local high-tech industry and on capital raising in particular,” says Simana. “Examining the data now, we are pleased to note that the Gaza conflict barely impacted high-tech capital raising. Traditionally, the third quarter tends to be the weakest for capital raising in any given year, but Q3/2014 ranked as the third best quarter ever, and one of the top three quarters in the past decade.”

This is promising news for two reason. For one, it should bolster confidence in the global economies trust in Israel’s ability to maintain a business as usual environment no matter what might be appearing in the headlines. Secondly, it means that Israeli’s themselves can be assured that while many may pay lip service to the horrible idea of mixing business with popular politics, when it comes to putting money where the mouth is, the world market is still very much in Israel’s corner.

Israel’s tech sector has thrived this year; startups have managed to attract funding even in the midst of Operation Protective Edge.

[Photo: Israel / YouTube ]