Israeli Startups Dream of Buying Other Startups, Says Israel Innovation Authority Exec

Naomi Krieger Carmy, head of IIA's societal challenges division, spoke Wednesday at Calcalist's annual Capital Markets Conference, held in collaboration with BDO and Psagot Investment House in Tel Aviv

 

The Israel Innovation Authority, the government's tech investment arm, considers the Israeli tech industry a success on the one hand and a challenge on the other, said Naomi Krieger Carmy, head of IIA's societal challenges division. Speaking Wednesday at Calcalist's annual Capital Markets Conference, held in Tel Aviv in partnership with the Israeli branch of international accounting firm BDO and Israel-based Psagot Investment House Ltd., she said that Israel's tech scene is concentrated mostly in the country's center, and that its employees are mostly homogenous.

 

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"Other countries are not resting on their laurels," she said.

Naomi Krieger Carmy. Photo: Aner Greenצילום: ענר גרין

The definition of a growth company is complex, Krieger Carmy said, but at its basis, it is a company in growth, that has raised capital, that has more than just a research and development team, and that has plans for future growth. "We see more and more of those companies today," she said, "but how can we keep the momentum?"

 

A relatively new trend is Israeli companies that acquire companies both locally and internationally and choose to keep their base of operations in Israel, Krieger Carmy said.

The IIA is dealing with the regulation needed to help the venture capital market grow Israeli tech, she added.