Why Israel Continues to Attract Investors

Sept. 26 2023

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).

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More about: Israeli economy, Israeli technology

 

A Jewish Obligation to Vote

On October 3, 1984, Rabbi Moses Feinstein—a leading figure among American Orthodox Jews, whose halakhic opinions are obeyed and studied today—wrote a letter encouraging Jews to vote in the upcoming elections. Feinstein, a talmudist of the old school, was born in a shtetl in the vicinity of Minsk, then in the Russian empire, before elections were known in that country. He came to the U.S. in 1937, at the age of forty-one, to escape the ever-worsening persecution of devout Jews in the Soviet Union. That experience no doubt shaped his view of democracy. Herewith, the letter in full:

On reaching the shores of the United States, Jews found a safe haven. The rights guaranteed by the United States Constitution and Bill of Rights have allowed us the freedom to practice our religion without interference and to live in this republic in safety.

A fundamental principle of Judaism is hakaras hatov—recognizing benefits afforded us and giving expression to our appreciation. Therefore, it is incumbent upon each Jewish citizen to participate in the democratic system which safeguards the freedoms we enjoy. The most fundamental responsibility incumbent on each individual is to register and to vote.

Therefore, I urge all members of the Jewish community to fulfill their obligations by registering as soon as possible and by voting. By this, we can express our appreciation and contribute to the continued security of our community.

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More about: 2024 Election, American Jewry, Democracy, Halakhah