Israel says $450 million invested in local VCs to support tech innovation

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Around $450 million in public and private money has ‍been invested in nearly a dozen Israeli venture capital funds under a programme ⁠aimed at sustaining technology investment during a slowdown in VC markets, a government body said on Tuesday.

The tech sector is a key driver of ‌Israel’s economy, accounting ‌for 20% of output, nearly 15% of jobs and more than 50% of exports.

The ‌investment in 11 Israeli venture funds was made through two tracks in the Israel Innovation Authority‘s Yozma Fund – the Institutional Investors Incentive Program…



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Israel says $450 million invested in local VCs to support tech innovation



Around $450 million in public and private money has ‍been invested in nearly a dozen Israeli venture capital funds under a programme ⁠aimed at sustaining technology investment during a slowdown in VC markets, a government body said on Tuesday.

The tech sector is a key driver of ‌Israel’s economy, accounting ‌for 20% of output, nearly 15% of jobs and more than 50% of exports.

The ‌investment in 11 Israeli venture funds was made through two tracks in the Israel Innovation Authority‘s Yozma Fund – the Institutional Investors Incentive Program…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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