Innovation is by far the most valuable resource for the State of Israel, serving as a national asset crucial to economic prosperity. Strengthening the innovation ecosystem is the mission of the Israel Innovation Authority, which seeks to further develop and support technological innovation in Israel through various support tools.
There has been an 83% fall in seed-stage investment in UK startups between 23rd March and 17th May 2020 compared to the same period in 2019, according to new research by Plexal and Beauhurst.
Overall UK tech startup funding saw a 50% drop year-on-year during the same period, confirming that, although many startups are struggling to raise funds, seed-stage startups have been the hardest hit.
Not only has the decision to leave the European Union not dented London’s start-up scene, it seems to have actually widened its lead as Europe’s leading fundraising destination.
According to a report from CB Insights, U.K. start-ups attracted $3.02 billion in venture capital in the third quarter. That’s a bit below the peak reached in Q4 2016, when U.K. start-ups attracted $3.5 billion. But it’s more than triple the amount raised one year ago, and the third straight quarter-over-quarter increase. The positive results were driven by six companies that raised rounds larger than $100 million in the quarter.
AI is more than a trend in investment activity. Uniquely, AI is a sub-sector of technology which is set for a development surge as technologies associated with AI advance and the reliance on AI products for businesses across all sectors to stay competitive grows.
This is already happening according to Forbes. A Narrative Science survey found last year that 38% of enterprises are already using AI, growing to 62% by 2018. Forrester Research predicted a greater than 300% increase in investment in artificial intelligence in 2017 compared with 2016. IDC estimated that the AI market will grow from $8 billion in 2016 to more than $47 billion in 2020.
Fintech companies - businesses that harness technological advances to challenge the existing financial system and the way things have traditionally been done - appear to be riding the post-Brexit storm with genuine confidence.
To the fore of this mini revolution are companies developing apps for stock market trading, websites that will help create entirely new currencies, and revolutionary new payment technology. All these ideas will change the way finance works.
According to the Tech Nation 2016 report, the Reading and Bracknell tech cluster is now the country’s largest cluster of digital businesses outside London. The area around these two towns is the home of digital businesses which contribute about £10bn in annual turnover to the British tech economy.
The EU referendum date has been announced and will take place on Thursday 23rd June. So, for the next four months the debate over whether the UK should remain in, or leave, the European Union will dominate.
A survey published this week shows that the majority of UK start-ups want us to stay in the EU.
Over the last five years Britain has succeeded in establishing itself as one of the world's leaders in tech innovation. Whether it's government support of small startups, or the huge array of brands emerging from Old Street and Silicon Roundabout; Britain is nurturing startups to become big successes.