SOUTH KOREA - Israeli Technology at Heart of Samsung’s Innovation

Arno Froese

Israeli start-ups are of key importance to South Korean technology giant Samsung’s innovation push, senior officials said, as the company held its fifth annual Samsung Innovation Summit in Tel Aviv.

“I think the Israeli start-up ecosystem is extremely important and that’s why we do this event every year, bringing together Israeli entrepreneurs and venture capitalists, and talking about the issues that are really important to us,” Shankar Chandran, senior vice president and managing director of the Samsung Catalyst Fund, told The Jerusalem Post.

“In the last 60 years, we have had about six different waves of technologies. Today, I think is the biggest wave. It’s about data and artificial intelligence, and I think Israel is one of the most interesting countries when it comes to thinking about data and artificial intelligence.”

Recognizing that much of the game-changing innovation emerges from the global start-up scene, Samsung has invested in excess of $2 billion in start-ups through its Samsung Catalyst Fund. Approximately one-quarter of the investments Samsung made last year, Chandran said, have been in Israeli companies.

Rutie Adar, head of Samsung’s Herzliya-based Strategy and Innovation Center, told the Post that the company’s interest in Israeli innovation is always a two-way, mutually-beneficial relationship.

“For Samsung, it is clear that we cannot develop innovation alone, especially when it’s about tackling huge or complex challenges, like healthcare and mobility. We need to work with companies, whether it’s investments or acquisitions,” Adar said.

“On the other hand, Samsung is the largest platform in the world. We are in the pockets of hundreds of millions of people around the world—and in their homes, televisions, fridges and vehicles. This is an excellent opportunity for local companies to join the leading platform in the world, that can enable them to grow and scale up.”

-www.jpost.com, 14 May 2019

Arno's commentary

While South Korea’s Samsung is the largest technology platform in the world, it becomes increasingly clear that the center of technological knowledge is shifting toward Israel. This should not be surprising to Bible readers, because Israel is destined to be the leading nation on planet earth. This is especially noticeable when compared to the surrounding Arab states, of which most can be considered third-world, poverty-stricken countries. Here the last words of the prophet Zephaniah are applicable: “At that time will I bring you again, even in the time that I gather you: for I will make you a name and a praise among all people of the earth, when I turn back your captivity before your eyes, saith the Lord” (Zephaniah 3:20).

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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