Innovation and Startups in Israel Posted at 0:00, Thu, 24 November 2016 in Industry Insights
I recently attended the Invest in Israel 2016 conference in Singapore organised by the Ministry of Economy and Industry State of Israel. Invest in Israel is a foreign direct investment initiative of the Israeli Ministry of Economy encouraging companies in Singapore to invest in startups coming from Israel.
Having limited knowledge of the startup scene in Israel, I was pleasantly surprised to learn many interesting facts about the country’s industry, such as Israel has the highest concentration of engineers in the world, its scientific infrastructure is ranked 3rd in the world and there have been 12 Nobel Prize Winners from Israel!
With over new 1,000 startups per year, 250 companies in the high-tech and new media sectors, and thousands of entrepreneurs and comprehensive business ecosystem, it’s no wonder that the country also goes by the moniker *Startup Nation*. Israeli companies operate R&D facilities for top multinational new media companies such as Google, Facebook, AOL, eBay and Yahoo.
The more I learn about Israel and its startup ecosystem, the more I discovered that there’s so much innovation going on in Israel. With this in mind I’ve put together the top five Israeli startups to watch out for.
Audioburst was launched in 2015 and brings the radio medium into the modern age by making it searchable and shareable. Radio hasn’t been the easiest medium to consume online, its content doesn’t go viral as compared to videos or photos and effectively disappears into thin air as soon as it is broadcast. Audioburst transcribes radio broadcasts through its innovative and highly sophisticated search engine which result in snippets called “bursts” on a wide range of topics from sports and entertainment, to arts, politics and business. The company brings value to radio stations because it allows their content to have a longer shelf life, while at the same time offering monetisation and distribution opportunities.
Global e-commerce and online advertising companies (among others) make thousands of payments to partners all over the world every day. The paperwork this creates can be crushing. Tipalti has been a lifesaver for many of these businesses. It automates the process of making global mass payments and also manages the complexities of international regulatory and tax compliance. Some of the company’s clients have seen the resources they devote to making payments cut by 50 percent or more. Founded in 2010 by Chen Amit, a serial tech entrepreneur, and Oren Zeev, a prolific angel investor (Chegg, Duda Mobile, Houzz, and others), Tipalti raised $13 million in 2014 to fund continuing growth.
Like Waze for public transportation, Moovit leverages user data as well as publicly available information like schedules to provide the most efficient directions from point A to point B. Like Google Maps’ public transit feature, Moovit combines various modes of transportation including walking, buses and subways. It differentiates itself with the application of user data, which Google doesn’t have access to. In some cities, Moovit also allows users to hail a ride through the app. Investors have pumped more than $80 million into the company.
Bizzabo is the world’s first event success platform. It helps organizers create successful events by empowering them to build amazing websites, sell tickets, grow communities, go mobile and maximize event experiences. All using a beautiful, user friendly platform. Bizzabo has raised over $4M in funding from top investors.
Apester is a digital storytelling platform that drives increased engagement for publishers by integrating the voice of the reader into their editorial coverage. Apester is a leader in digital storytelling, with more than 300 million impressions a month and 600+ leading publishers using the platform, including AOL, The Daily Telegraph, The Huffington Post, BBC, Sky, and Bild.