Israeli tech expert Hillel Fuld is optimistic about the future of the Start-Up Nation, Israel, despite rising domestic and international concerns about the local tech industry’s long-term viability.
"There are several new funds launching in the near future which are currently under the radar, hundreds of millions of dollars invested in Israel. I don’t wish to belittle any fears that people might have, but I have zero doubt that we're going to be stronger than ever before. And that's kind of my high-level view,” Fuld told Ynet news.
Fuld believes the Israeli tech industry has all the necessary components for future success.
"What I think is interesting is, when you look at this ecosystem, you can measure this using any metric you want and see how much capital is flowing into it, the quality of the capital, the unicorns, the multi-million dollar private companies and the billion dollar public companies," he said.
"The multinationals that have set up shop here. No matter how you look at this ecosystem, it is something truly remarkable. And I don't think in the long term anything can stop us. Well, possibly with the exception of ourselves.”
Many local and international business leaders have expressed concerns about market uncertainty because of the judicial reform controversy.
A whopping 80% of new Israeli start-ups have said they intend to incorporate in the United States due to local uncertainty, according to a new poll conducted by the Israel Innovation Authority.
However, Fuld believes the Israeli tech market is simply correcting itself after years of over-hyped market speculation. While he admits that there are challenges, Fuld believes the Israeli tech ecosystem is still capable of attracting a significant amount of capital for future developments.
"There is money in this ecosystem. It's not drying up, as many people would have you believe. Are there challenges? Yes, 100% there are. There are going to be hiccups along the way such as the ones we are experiencing right now. But in the long term, the venture ecosystem and tech ecosystem will be fine. More than fine," Fuld concluded.
Tel Aviv University ranks as the leading unicorn start-up breeder outside of the United States, according to a recent Stanford University study.
Last month, Isranomics reported that Israeli start-ups secured the highest amount of monthly funding since August 2022, despite a decline during the first half of the year.
The All Israel News Staff is a team of journalists in Israel.