Mind the Tech NY
"The ties with the US are Israel's most important strategic asset"
Anat Katz, Israel's economic attaché in the U.S., was speaking at the Calcalist and Bank Leumi Mind the Tech New York conference.
"The ties with the U.S. are Israel's most important strategic asset," said Anat Katz, Israel's economic attaché in the U.S., at the closing cocktail party of the Mind the Tech New York conference organized by Calcalist and Bank Leumi. According to her, beyond their geopolitical and security importance, these ties are also an extremely valuable economic asset.
Katz expressed deep appreciation for the support the U.S. has provided to Israel during this challenging period. "We are living in a turbulent and uncertain time, both in Israel and globally. Many of you already know that high-tech is at the heart of the Israeli economy, just as Israel is central to the global technology industry. As a geopolitically isolated country, Israel depends on exports, and high-tech serves as a major driver of our economy, even though only 12% of the workforce is employed in the sector."
Katz acknowledged that the ongoing war in Gaza has raised concerns about the future of Israel's technology sector. However, she emphasized that despite these challenges, the sector has demonstrated impressive resilience over the past two years. This includes a 40% increase in capital raised by the sector in 2024, a 15% rise in the number of funding rounds last year, and the creation of seven new unicorns, compared to four in 2023. She noted that cybersecurity, artificial intelligence, and fintech were the leading sectors in capital raised.
"Moreover, trends in venture capital investment in Israel mirror those seen on the West Coast, in New York, and in other leading global technology hubs," Katz added. According to her, investors, customers, and business leaders continue to support Israel not only out of a sense of solidarity but for the simple reason that it makes good business sense."
Katz further explained that because Israel is an integral part of the global technology ecosystem, global trends directly impact it. "These are promising developments, but they should not be taken for granted," she said. "The success we see today is largely thanks to people like you—innovative Israeli companies developing groundbreaking solutions and the strong support system here in New York."
She also highlighted the work of the Israeli Economic Mission, which connects Israeli companies with end customers, business partners, and investors across various industries. "We manage over 200 company applications a year, host around 50 events, and assist approximately 700 Israeli companies," she stated.
Finally, Katz urged those present to continue doing the most essential thing for the success of Israeli high-tech: "Connect with each other."
