Fintech in Israel: 4 Facts that you should know about

Would you like to learn about how our fintech colleagues are working and creating new ideas around the world? Here we present you interesting Israeli facts picked up by hand. 

 By Marília Assis (B-Hive)

Israelis give a high value the creation of new ideas and solutions, and the most important thing: they are not afraid to undertake. As they say: "A righteous man falls down seven times and gets up." – King Solomon, Proverbs, 24:16. 


Just in 2015, the small country with only 8+ million habitants, created more than 1,400 tech-startups. All this enthusiasm has generated expressive results: Israel displays the highest number of companies listed on the NASDAQ after the United States and China


One of the key success factors of the high number of creation of tech-startups is the intense investment in human capital. Israel has the highest number of scientists, technicians and engineers per capita in the world (140 scientists per 10,000 workers in Israel vs. 83 for the US, 83 for 60 for Germany, 43 for the UK). Furthermore, according to the QS World University Rankings, Israeli universities are among 100 of the top world universities in science and engineering-related subjects. All these ingredients are creating the dream home for the startups.

 


“I hardly exaggerate. Jewish life consists of two elements: Extracting money and protesting.” — Nahum Goldmann “


In Israeli alone high-tech companies raised over $4.8 billion dollars in 2016. Vs €16.2 billion in the whole of Europe combined. Tech firms earned $1.19 billion in the third quarter alone, building the second most prosperous quarter in the past 10 years.

 


As we know the tech world is dominated by man. However, in Israel we can find an opposite scenario, where women are fighting and succeeding to get space in tech. 


In Tel Aviv, we can find inspiring initiatives to bring women to the tech side of the force. One of them is WMN, a community, a co-working space and an ecosystem for women-led ventures in Tel Aviv. This spaces are a game changer by significantly increasing the number of female founders in the industry and bridging the gender gap in the startup ecosystem. Farther than this, Israel don’t want just the youngest generation of women, they are also bringing mothers to the game, offering a baby friendly startup school, the Campus TLV for Moms at the Google Tel Aviv campus.


Another interesting information is that in the army’s famous 8200 cyber intelligence unit, 40 % of recruits are women!


Israel has the double of cybersecurity companies of the US, more than 300. Only in 2015, around 100 startups were created inside this sector. In 2014, exports by Israeli cyber-security companies reached $6B, equivalent to 10% of the global cybersecurity market. 


In conclusion, if you want to learn about cybersecurity, Tel Aviv is the place to observe.