Report: U.K.-Backed Tech Hub Produced $114 Million Worth of Deals Between British and Israeli Companies
Formed in 2011, the hub connects Israeli tech companies with the British industry
Since its establishment in 2011, the U.K. Israel Tech Hub, a government-backed non profit organization connecting Israeli tech companies with the British industry, has generated 175 deals worth 85 million pounds (approximately $114 million), the hub reported on Wednesday. According to the report, in the past year U.K.-based companies used Israeli technologies in the domains of artificial intelligence, chatbots, blockchain and internet of things (IoT). The U.K. is now planning to expand the scheme to form a global network of tech hubs, said in a statement Matthew Hancock, the U.K’s secretary of state for digital, culture, media and sport.