Why This New Innovation Hub In Israel Decided To Welcome Startups And Enterprises

Floor28 customer engagement area for startups and enterprises at the AWS Tel Aviv office.Tomer Foltyn

Israel’s position as a startup nation has been on the rise since 2009. In 2017, in addition to more than 350 multi-national research and development centers, there were also more than 6,000 startups, more than 70 VC funds and more than 200 startup accelerators.

OurCrowd Founder and CEO Jon Medved says Israel’s startup ecosystem is set to achieve new records this year, with an estimated $6.5B invested in Israeli startups in 2018.

“Over 80% of this capital comes from overseas, and Israeli venture funds are performing well, even in comparison with Silicon Valley,” said Medved. “The venture market here has grown considerably in size and in quality, with Israel regularly producing market-leading companies emerging in a variety of exciting investment sectors. These companies are not just growing fast, and have tons of promise, but are actually out ahead of their competitors worldwide.”

On October 9, 2018, Amazon Web Services (AWS) opened a new office in Tel Aviv, Israel which encompasses the teams working across Alexa Shopping, AWS, Prime Air, and Annapurna Labs. It also happens to be the location of Floor 28, a unique co-working space designed to help both enterprise companies and early-stage startups accelerate the process of building a minimum viable product that is ready for scale and enable venture-backed companies to achieve their next technological milestone or launch a new product.

Harel Ifhar, Head, AWS Israel said that when AWS launched in 2006, Israeli technology companies were among the first to adopt the services and leverage the AWS cloud to support their inventions, accelerate growth, and reach global markets.

[“source=forbes]