ISRAEL - Tech Thrived During Pandemic

Arno Froese

We all know the reasons why Israel, the Startup Nation, has been able to go from strength to strength over the past decade: mandatory military service, the outsized influence of intelligence units such as 8200, world-class institutions of higher education, a lot of grit, and a propensity for taking risks.

As a briefer, by the numbers, Israeli companies raised close to $26 billion in 2021, with many 100-million-dollar mega funding rounds.

Good entrepreneurs seek opportunities, and Israelis looked at this as another difficult situation, where they not only learned to adapt, but took advantage of the situation. For the first time in history, nearly everyone across the globe had to deal with the same experience.

Israel started building a tech ecosystem before many other places did, including much of Europe. This also can be said about a place like Silicon Valley, but Israel’s ecosystem really started to take off in the early 1990s.

Today, it is a given that knowledge worker-based economies, and countries that focus on building them, are the future. But that was not always the case, and Israel just used what was available at the time: sharp minds and technology that is highly leverageable and scalable.

While there are many historical reasons why Israeli tech has only grown stronger during this ongoing crisis, it reminds me of that famous Warren Buffett quote: “Be fearful when others are greedy and greedy when others are fearful.”

When much of the world was afraid (or putting their heads in the sand), entrepreneurs in Israel leaned into the chaos and moved ahead.

Given the fact we may face another wild year dealing with this global pandemic, and with the continued pouring of money into the ecosystem, 2022 could be another landmark year.

-www.israel21c.org, 1 February 2022

Arno's Commentary

The article by Jonathan Frenkel appeared on Israel21c.org, of which we publish some excerpts to show Israel’s race to the top—with no sign of stopping.

Many ask, why? There are a number of reasons. The bulk of the country’s population can be called internationalists. We must remember that the major reason for the success of the USA was immigrants from around the world. Jews from almost 80 countries are now living in Israel as citizens.

The other reason is Biblical. It’s not that the Jews are somewhat better, but based on God’s election, they are destined to fulfill Deuteronomy 14:2: “For thou art an holy people unto the Lord thy God, and the Lord hath chosen thee to be a peculiar people unto himself, above all the nations that are upon the earth.” In order to be above all nations, they have to be prepared. That is happening now.

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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