“Our high-tech entrepreneurs, who symbolize excellence, are Israel’s best ambassadors these days,” said Bank Hapoalim (TASE: POLI) chairman Yair Seroussi on Thursday at the Journey Conference hosted by “Globes” and EY.
At a busy night in Tel Aviv, Seroussi said, “The abundance of opportunity that Israel offers in the tech sector is the central draw for entrepreneurs and business people from all over the world who come to Israel; as we are seeing these days, the global tech community is the only one that still comes here even during times of instability and tension.”
He added: “The strength of the tech sector in Israel relies on the massive raising of capital done by the investment funds in the past two years, which enabled an inflow of capital to new investments and continued support for existing ones. We see more and more entrepreneurs that utilize their impressive exits to invest in other startups and closely mentor them. The rich experience of the new angels benefits the young entrepreneurs and the development of the market.
“Exit is not a dirty word, and at times Israeli companies only have the option to sell, but there are more than a few young companies with incredible potential for development, and I want to see more Israeli companies growing independently. For the Israeli market to mature, the Israeli high-tech firms need gradually become the buyers and not the sellers,” he continued.
To conclude his remarks, Seroussi said, “We must continue to utilize the inherent advantages in the Israeli tech industry, like the cyber defense sector, in which Israel has become a world leader. The demand for innovation in this sector is continued to increase in the upcoming years.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 16, 2015
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