Israeli startups that succeed in the US attract media attention, but more and more Israeli initiatives are active in Europe, a new report reveals.
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How active? A total of 912 Israeli startups currently operating in 28 European Union countries employ 24,223 EU residents, according to a map of Israeli startup activity in Europe compiled by the EIT Hub Israel, ISERD, and Israel's CQ Global recruiting company that was presented Wednesday evening at an event celebrating the 25th anniversary of the establishment of business relations between the EU and Israel.
In Germany, 240 Israeli startup companies provide employment to 3,135 Germans, while in France 183 Israeli startups employ 1985 people.
The report found that 49% of all companies conduct sales and marketing activities in Europe and 15% have research and development operations there.
Over one-third of the Israeli startups in Europe come from the information and software tech sector. Others are active in the internet, telecommunications, biomedical, and clean tech spheres. The full report can be read here.
The authors of the study conducted in-depth conversations with officials at startups operating in Europe, and 37% of them said they anticipated growth this coming year. Sixteen percent 16% of the companies surveyed received assistance from the EU during establishment and expansion phases.
Yotam Tzuker, Head of Business Development at CQ Global, cited the geographical proximity between Europe and Israel, combined with the long and extensive history of political, social,
"The report stems from the lack of a comprehensive picture regarding the state of Israeli companies in Europe and their mutual contribution towards economic development, particularly in the field of employment. We hope that this data will assist startups who wish to operate in Europe, as well as investors," Tzuker said.
Adi Barel, Managing Director of EIT Hub Israel, an initiative founded in 2019 to serve as a bridge between the Israeli and EU innovation ecosystems, said, "The economic potential is inherent in the business relationship between Israeli technology companies and the European market. This report is part of a strategy to deepen ties between Israel and Europe and increase the basket of business opportunities in the fields of innovation."
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