While pessimists cite an array of reasons to argue that the Jewish state’s extraordinary economic growth over the past two decades might fizzle out, the Canadian businessman Lorne Abony has no such doubts. He explains why:
First, Israeli start-ups have the best track record of success. Israel now has 41 unicorns [private companies valued at over $1 billion], the most per capita in the world. . . . Foreign investment in Israel has skyrocketed over the past decade, from $9 billion to $27.76 billion. Matam Park, in Haifa, is an international tech R&D hub, playing host to Amazon, Intel, Microsoft, Apple, and Google, just to name a few. And speaking of Intel—it’s building another factory in the country that will cost $25 billion and open in 2027.
[Moreover], Israeli companies are uniquely positioned to pioneer the technologies of the future. In fields from artificial intelligence to blockchain to water and sustainable energy to cultured meat, Israelis bring together a density of expertise, bold attitudes that allows for risk-taking and experimentation, and a unique pipeline connecting world-renowned academic institutions with business. It is a potent mix, unlike anything I’ve seen elsewhere.
Take, for instance, Pluri, a biotech company that’s applying its twenty years of expertise in regenerative medicine to massive new opportunities for cell-based manufacturing—whether by growing cultivated meat in a lab, or developing the first effective treatment that could be deployed at scale for acute radiation syndrome (the disease you get from the fallout from a nuclear weapon or nuclear-plant meltdown).