Israel is renowned for its Innovation ecosystem, sometimes called the "Startup Nation", after a famous American bestseller available in 20 languages . It is also well known that the innovation ecosystem in Israel is based on the industry, and the government is mostly here to embrace and invest too where the private sector is committed. It seems Israel ecosystem has plenty of good reasons to be one of the top leaders in the IoT industry, mostly because they have leadership in the three core architectures of IoT (design, communications and chip technology), plus its world-wide strength in security. For example, the Mobileye acquisition at more than $15B in March 2017 has set how dynamic the IoT and security market is, and shows how motivated founders are now and will be in the following years .
Below we give an overview of IoT in Israel:
- The "Map of Israel's growing IoT landscape" by TLV, a venture capital firm, emphases three fields of excellence for IoT: Security, Analytics and Agritech .
- The white paper "The internet - everywhere, in everything" prepared by KPMG - emphases that the top Israel IoT excellence is security .
- Transportation field successes (Mobileye and others) show very good signs, even if not yet publicised in the reports. And few years back, Waze success & Better Place high-and-downs were part of this.
- In an overview of national IoT activities by Innovation Endeavors, the healthcare topic are added .
Israel Innovation Authority, is the public agency who embraces, synchronises and leverages with funds the private sector activities, including in IoT. Some examples are listed below:
- The technological innovation labs initiative program has been launched in 2017. Tender for five mini-incubators very IoT oriented . Renault is one of the 5 winners and will set-up its second Innovation Centres in the world (following San Francisco).
- Creation of several new industry consortiums and the MAGNET program 2017 are including one Food IoT .
IoT R&D and Innovation Programs by Multinational companies are coming to Israel for talents and quick prototyping and development: Apple, Intel, GE, Cisco, Samsung, Motorola, PTC, IBM, SONY (following the acquisition of Altair), Harman (following the acquisition of Red Bend, Autodesk (following the investment in Jumper), ARM (following the acquisition of Sansa) and more.
- Crowdfunding with national cooperation via Indiegogo and Kickstarter. They allow to begin to develop a field where Israel is being not strong to date (the B2C models).
- Equity crowdfunding some good successes too with the OurCrowd. Equity crowdfunding has good support with over ten IoT cooperation in the portfolio.
- The new VC fund "i3 Equity Partners" focused on IoT (funded by Microsoft, GE, Qualcomm, the Chinese HNA, the Indian Tata and more).
Start-ups and programs:
- Over a total of approximately 6,000 start-ups, almost 400 IoT registered start-ups in Israel .
- Some Incubators with IoT in their portfolio
- MEDX Venture Group.
- The Time Seed Fund.
- Sanara Ventures (created by Teva & Phillips).
- Some IoT ventures recently in the news:
- ForeScout that prepares its IPO at over $1B valuation
- StoreDot that just raised $60M from Daimler with a valuation of estimated $500M
- Argus Cyber Security, round B with valuation of about $150M