High-tech firms raise $842m in first half of 2007 - Israel Business, Ynetnews

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High-tech firms raise $842m in first half of 2007

IVC survey reveals shows average high-tech financing round in first half of year was $3.7 million

Published: 08.13.07, 07:27 / Israel Business

High-tech companies in Israel raised $842 million in the first half of 2007, an increase of 10% compared to the same period in 2006, according to a survey conducted by the Israel Venture Association (IVC) Research Center.


The IVC survey is based on reports from 80 venture investors, of which 50 are Israeli management companies and 30 are mostly foreign investors. These results augur well as regards expectations for high-tech growth in Israel.


According to the survey, the average high-tech financing round was $3.7 million. Eighty-one companies attracted more than $1 million, 15 of which raised $5 million to $10 million each, and 12 of which raised more than $10 million each.


Israel is internationally renowned for its innovative high-tech solutions. With the rapid increase in technology worldwide, and as it becomes apparent that China, Russia and India are creating more of a demand for advanced technology, the Israeli high-tech market continues to develop the most up-to-date systems and solutions to meet these increasing global needs.


Increase in investment

Included in Israel’s high-tech basket are software, communications infrastructure, cellular and wireless applications, safety and security systems, chip development, biotechnology and medical devices, as well as nanotechnology.


Israel exports to markets in the United States, Western Europe and Asia Pacific.


Zeev Holtzman, Chairman of IVC Research Center, said that “despite global competition in technology-focused investments, Israeli high-tech industry continues to benefit from the steady growth of worldwide markets.”


Holtzman also anticipated an increase in funds investing in Israeli high-tech companies.


Reprinted with permission of The Israel Export and International Cooperation Institute


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