ISRAEL - From Startup Nation to Scale-Up Nation

Arno Froese

Naftaly, whose company helps consumer electronics manufacturers to communicate with customers, was speaking from an Israel-New York Unicorn Party, hosted by Israeli entrepreneur Erel Margalit, to celebrate the more than 20 Israeli-owned, New York-based companies that have achieved unicorn status, or a privately held startup company valued at over $1 billion. Ten of those entities have surpassed that milestone in the past year, in the midst of a pandemic.

Israeli tech has attracted over $20 billion in 2021, with 74 Israeli unicorns now operating. In the cybersecurity sector, Israel attracted 40% of total investment this year, despite accounting for 0.1% of the world’s population. The seven Israeli cybersecurity unicorns are one-third of the number of unicorns in the field worldwide.

“Over time, Israel will start to feel more like Silicon Valley,” said John Curtius, a partner at Tiger Global.

“It is a real ecosystem today. I was in Tel Aviv for a week recently and the stat that astounded me is the fact there are more than 70 unicorns, which is more than in all of Europe. And I think it is only going to accelerate. There are amazing founders, amazing engineering talent, and really global ambitions in a way we haven’t seen before,” said Curtius., 19 November 2021

Arno's Commentary

Little Israel is a country to be reckoned with. It has over 70 unicorn companies, “which is more than in all of Europe.” What is a unicorn? It’s a term used in the venture capital industry to describe a privately held startup company that has reached a value of over $1 billion.

Why Israel? There are obviously many reasons. One, they have been threatened with total annihilation since the proclamation of the State 73 years ago. Their existence depends on creating infrastructure superseding those nations which pose a threat. Now, with highly developed computer science, Israel cannot but go ahead, surpassing one country after another. Rightly, John Curtius states, “…really global ambitions in a way we haven’t seen before.” 

While the military and defense technology are part of it, we know from Scripture that there is more to come. The prophet Zechariah proclaims: “Thus saith the Lord; I am returned unto Zion, and will dwell in the midst of Jerusalem: and Jerusalem shall be called a city of truth; and the mountain of the Lord of hosts the holy mountain” (Zechariah 8:3).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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