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Foresight raises $15M for its construction workers compensation platform

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When an accident on a building site resulted in the death of their friend, the founders of Safesight were inspired to launch the platform to digitize safety programs for construction. The data from that gave birth to a new InsurTech startup this year, Foresight, which covers workers’ compensation. The startup has now released, for the first time, news that it raised a $15 million funding round back in May this year, with participation from Blackhorn Ventures and Transverse Insurance Group. To date, it has raised $20.5 million from industrial technology venture capital firms, led by Brick and Mortar Ventures and Builders VC.

Foresight launched in August of this year but has already covered $30M in risks. The company says it is now on pace to reach $50M in underwritten premium in 2021. By leveraging the data from sister company Safesite, the platform says it has been able to reduce workers comp incidents by up to 57% in a study conducted by actuarial consulting firm Perr & Knight.

Foresight’s algorithm leverages Safesight data to predict incidents, highlight risks, and informs underwriting. By wrapping Safesite risk management technology and services into every policy, Foresight provides a path to lower incident rates and lower premiums for customers.

Of the $57Bn national workers compensation market, Foresight focuses on policies ranging from $150K to $1M+ in annual premiums. The company says this segment has been largely overlooked by well-funded InsurTech startups such as Next Insurance and Pie, which provide small business policies under $50K in annual premiums.

Foresight and Safesite were developed by longtime friends and co-founders David Fontain, Peter Grant, and Leigh Appel.

Fontain said: “Foresight strengthens the correlation between safety and savings while providing the fast and easy user experience InsurTechs are known for. We leverage purpose-built technology to drive behavioral shifts and provide an irresistible alternative to traditional workers compensation coverage.”

Darren Bechtel, the founder and managing director at Brick & Mortar Ventures commented: “We first invested in 2016 and have known the founders since 2015 when it was just the two of them, squatting at a couple of empty desks inside another portfolio company’s office. Their initial vision was both elegant and powerful, and the demonstrated impact of their solution on safety performance, even in early interactions with the product, was impossible to ignore.”

Foresight now covers Nevada, Oklahoma, Arizona, Arkansas, Louisiana, and New Mexico. The company expects to launch workers compensation in the eastern US and a general liability line in early 2021.

Lyron Foster is a Hawaii based African American Musician, Author, Actor, Blogger, Filmmaker, Philanthropist and Multinational Serial Tech Entrepreneur.

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Google inks agreement in France on paying publishers for news reuse

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Google has reached an agreement with an association of French publishers over how it will be pay for reuse of snippets of their content. This is a result of application of a ‘neighbouring right’ for news which was transposed into national law following a pan-EU copyright reform agreed back in 2019.

The tech giant had sought to evade paying French publishers for use of content snippets in its news aggregation and search products by no longer displaying them in the country.

But in April last year the French competition watchdog quashed its attempt to avoid payments, using an urgent procedure known as interim measures — deeming Google’s unilateral withdrawal of snippets to be unfair and damaging to the press sector, and likely to constitute an abuse of a dominant market position.

A few months later Google lost an appeal against the watchdog’s injunction ordering it to negotiate to pay for reuse of snippets — leaving it little choice but to sit at the table with French publishers and talk payment.

L’Alliance de la Presse d’Information Générale (APIG), which represents the interests of around 300 political and general information press titles in France, announced the framework agreement today, writing that it sets the terms of negotiation with its members for Google’s reuse of their content.

In a statement, Pierre Louette, CEO of Groupe Les Echos – Le Parisien, and president of L’Alliance, said: “After long months of negotiations, this agreement is an important milestone, which marks the effective recognition of the neighboring rights of press publishers and the beginning of their remuneration by digital platforms for the use of their online publications.”

Google has also put out a blog post — lauding what it said is a “major step forward” after months of negotiations with French publishers.

The agreement “establishes a framework within which Google will negotiate individual licensing agreements with IPG certified publishers within APIG’s membership, while reflecting the principles of the law”, it said.

IPG certification refers to a status that online media organizations in France can gain if they meet certain quality standards, such as having at least one professional journalist on staff and having a main purpose of creating permanent and continuous content that provides political and general information of interest to a wide and varied audience.

“These agreements will cover publishers’ neighboring rights, and allow for participation in News Showcase, a new licencing program recently launched by Google to provide readers access to enriched content,” Google added, making reference to a news partnership program it announced last year — which it said would have an initial $1BN investment.

Google has not confirmed how much money will be distributed to publishers in France solely under the agreed framework over content reuse which is directly linked to the neighbouring right.

And the News Showcase program which Google spun up quickly last year looks conveniently designed to help it obfuscate the value of individual payments it may be legally required to make to publishers for reusing their content.

The tech giant told us it is in conversations with publishers in many countries to negotiate agreements for News Showcase — a program that is not limited to the EU.

It also said earlier investments announced with publishers under Showcase come as it anticipates legal regimes that may exist once the EU’s copyright directive is implemented in other countries, adding that it will evaluate laws as and when they are introduced.

(NB: France was among the first EU countries to the punch to transpose the copyright directive; application of the neighbouring right will expand across the bloc as other Member States bake the directive into national law.)

On the French agreements specifically, Google said they are for its News Showcase but are also inclusive of the publisher’s neighboring rights, after we asked about the separation between payments that will be made under the French framework and Google’s News Showcase. So about as clear as mud, then.

The tech giant did tell us it has reached individual agreements with a handful of French publishers so far, including (major national newspaper titles) Le Monde, Le Figaro and Libération.

It added that payments will go direct to publishers and terms will not be disclosed — noting they are strictly confidential. It also said these individual deals with publishers take account of the neighbouring right framework but also reflect individual publisher needs and differences.

On criteria for payments for neighbouring rights, Google’s blog post states: “The remuneration that is included in these licensing agreements is based on criteria such as the publisher’s contribution to political and general information (IPG certified publishers), the daily volume of publications, and its monthly internet traffic.”

On this, Google also told us it is focused on IPG publishers because the French law is too (it pointed to a line of the law that states: “The amount of this remuneration takes into account elements such as human, material and financial investments made by publishers and press agencies, the contribution to press publications to political and general information and the importance of use of press publications by online public communication services.”)

But it added that its door remains open to discussion with other non APIG publishers.

We also reached out to L’Alliance with questions and will update this report with any response.

Although individual payments to publishers under the French framework are not being disclosed the agreement looks like a major win for Europe’s press sector — which had lobbied extensively to extend copyright to news snippets via the EU’s controversial copyright reform.

Some individual EU Member States — including Germany and Spain — previously attempted to get Google to pay publishers by baking similar copyright provisions into national law. But in those instances Google either forced publishers to give it their snippets for free (by playing traffic-hungry publishers off against each other) or shut down Google News entirely. So some payment is clearly better than nada.

That said, with details of the terms of individual deals not disclosed — and no clarity over exactly how remunerations will be calculated — there’s a lot that remains murky over Google paying for news reuse.

Neither Google nor L’Alliance have said how much money will be distributed in total under the French agreement to covered publishers. 

Another issue we’re curious about is how the framework will protect publishers from changes to Google’s search algorithms that could have a negative impact on traffic to their sites.

This seems important given that monthly traffic is one of the criteria being used to determine payment. (And it’s not hard to find examples of such negative search ‘blips’.)

It also looks clear that the more publishers Google can attract into its ‘News Showcase’ program, the more options Google will have for displaying news snippets in its products — and therefore at a price it has more power to set.

So the longer term impact of the application of the EU’s copyright directive on publisher revenues — and, indeed, how it might influence the quality of online journalism that Google accelerates into Internet users’ eyeballs — remains to be seen.

The French competition watchdog’s investigation also remains ongoing. Google said it continues to engage with that probe.

In 2019 the national watchdog slapped Google with a €150 million fine for abusing its dominant position in the online search advertising market — sanctioning it for “opaque and difficult to understand” operating rules for its ad platform, Google Ads, and for applying them in “an unfair and random manner.”

While, last October, the US Justice Department filed an antitrust suit against Google — alleging that the company is “unlawfully maintaining monopolies in the markets for general search services, search advertising, and general search text advertising”.

The UK’s competition watchdog has also raised concerns about the ad market dominance of Google and Facebook, asking for views on breaking up Google back in 2019. The UK government has since said it will establish a pro-competition regulator to put limits on big tech.

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China’s surging private space industry is out to challenge the US

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China’s space program might have been slowed by the pandemic in 2020, but it certainly didn’t stop. The year’s highlights included sending a rover to Mars, bringing moon rocks back to Earth, and testing out the next-generation crewed vehicle that should take taikonauts into orbit—and possibly to the moon—one day. 

But there were a few achievements the rest of the world might not have noticed. One was the November 7 launch of Ceres-1, a new type of rocket that, at just 62 feet in height, is capable of taking 770 pounds of payload into low Earth orbit. The launch sent the Tianqi 11 communications satellite into space.

At first glance, the Ceres-1 launch might seem unremarkable. Ceres-1, however, wasn’t built and launched by China’s national program. It was a commercial rocket—only the second from a Chinese company ever to go into space. And the launch happened less than three years after the company was founded. The achievement is a milestone for China’s fledgling—but rapidly growing—private space industry, an increasingly critical part of the country’s quest to dethrone the US as the world’s preeminent space power. 

The rivalry between the US and China, whose space program has surged over the last two decades, is what most people mean when they refer to the 21st-century’s space race. China is set to build a new space station later this year and will likely attempt to send its taikonauts to the moon before the decade ends. But these big-picture projects represent just one aspect of the country’s space ambitions. Increasingly, the focus is now on the commercial space industry as well. The nation’s growing private space business is less focused on bringing prestige and glory to the nation and more concerned with reducing the cost of spaceflight, increasing its international influence—and making money.

“The state is really great at large, ambitious projects like going to the moon or developing a large reconnaissance satellite,” says Lincoln Hines, a Cornell University researcher who focuses on Chinese foreign policy. “But it’s not responsive to meeting market needs”—one big way to encourage rapid technological growth and innovation. “I think the government thinks its commercial space sector can be complementary to the state,” he says.

What are the market needs that Hines is referring to? Satellites, and rockets that can launch them into orbit. The space industry is undergoing a renaissance thanks to two big trends spurred by the commercial industry: we can make satellites for less money by making them smaller and using off-the-shelf hardware; and we can also make rockets for less money, by using less costly materials or reusing boosters after they’ve already flown (which SpaceX pioneered with its Falcon 9). These trends mean it is now cheaper to send stuff into space, and the services and data that satellites can offer have come down in price accordingly. 

China has seen an opportunity. A 2017 report by Bank of America Merrill Lynch estimates that the space industry could be worth up to $2.7 trillion by 2030. Setting foot on the moon and establishing a lunar colony might be a statement of national power, but securing a share of such a highly lucrative business is perhaps even more important to the country’s future. 

“In the future, there will be tens of thousands of satellites waiting to launch, which is a major opportunity for Galactic Energy” says Wu Yue, a company spokesperson.

The problem is, China has to make up decades’ worth of ground lost to the West.

How did China get here—and why?

Until recently, China’s space activity has been overwhelmingly dominated by two state-owned enterprises: the China Aerospace Science & Industry Corporation Limited (CASIC) and the China Aerospace Science and Technology Corporation (CASC). A few private space firms have been allowed to operate in the country for a while: for example, there’s the China Great Wall Industry Corporation Limited (in reality a subsidiary of CASC), which has provided commercial launches since it was established in 1980. But for the most part, China’s commercial space industry has been nonexistent. Satellites were expensive to build and launch, and they were too heavy and large for anything but the biggest rockets to actually deliver to orbit. The costs involved were too much for anything but national budgets to handle.

That all changed this past decade as the costs of making satellites and launching rockets plunged. In 2014, a year after Xi Jinping took over as the new leader of China, the Chinese government decided to treat civil space development as a key area of innovation, as it had already begun doing with AI and solar power. It issued a policy directive called Document 60 that year to enable large private investment in companies interested in participating in the space industry. 

“Xi’s goal was that if China has to become a critical player in technology, including in civil space and aerospace, it was critical to develop a space ecosystem that includes the private sector,” says Namrata Goswami, a geopolitics expert based in Montgomery, Alabama, who’s been studying China’s space program for many years. “He was taking a cue from the American private sector to encourage innovation from a talent pool that extended beyond state-funded organizations.”

As a result, there are now 78 commercial space companies operating in China, according to a 2019 report by the Institute for Defense Analysis. More than half have been founded since 2014, and the vast majority focus on satellite manufacturing and launch services.

For example, Galactic Energy, founded in February 2018, is building its Ceres rocket to offer rapid launch service for single payloads, while its Pallas rocket is being built to deploy entire constellations. Rival company i-Space, formed in 2016, became the first commercial Chinese company to make it to space with its Hyperbola-1 in July 2019. It wants to pursue reusable first-stage boosters that can land vertically, like those from SpaceX. So does LinkSpace (founded in 2014), although it also hopes to use rockets to deliver packages from one terrestrial location to another.

Spacety, founded in 2016, wants to turn around customer orders to build and launch its small satellites in just six months. In December it launched a miniaturized version of a satellite that uses 2D radar images to build 3D reconstructions of terrestrial landscapes. Weeks later, it released the first images taken by the satellite, Hisea-1, featuring three-meter resolution. Spacety wants to launch a constellation of these satellites to offer high-quality imaging at low cost. 

To a large extent, China is following the same blueprint drawn up by the US: using government contracts and subsidies to give these companies a foot up. US firms like SpaceX benefited greatly from NASA contracts that paid out millions to build and test rockets and space vehicles for delivering cargo to the International Space Station. With that experience under its belt, SpaceX was able to attract more customers with greater confidence. 

Venture capital is another tried-and-true route. The IDA report estimates that VC funding for Chinese space companies was up to $516 million in 2018—far shy of the $2.2 billion American companies raised, but nothing to scoff at for an industry that really only began seven years ago. At least 42 companies had no known government funding. 

And much of the government support these companies do receive doesn’t have a federal origin, but a provincial one. “[These companies] are drawing high-tech development to these local communities,” says Hines. “And in return, they’re given more autonomy by the local government.” While most have headquarters in Beijing, many keep facilities in Shenzhen, Chongqing, and other areas that might draw talent from local universities. 

There’s also one advantage specific to China: manufacturing. “What is the best country to trust for manufacturing needs?” asks James Zheng, the CEO of Spacety’s Luxembourg headquarters. “It’s China. It’s the manufacturing center of the world.” Zheng believes the country is in a better position than any other to take advantage of the space industry’s new need for mass production of satellites and rockets alike. 

Making friends

The most critical strategic reason to encourage a private space sector is to create opportunities for international collaboration—particularly to attract customers wary of being seen to mix with the Chinese government. (US agencies and government contractors, for example, are barred from working with any groups the regime funds.) Document 60 and others issued by China’s National Development and Reform Commission were aimed not just at promoting technological innovation, but also at drawing in foreign investment and maximizing a customer base beyond Chinese borders.

“China realizes there are certain things they cannot get on their own,” says Frans von der Dunk, a space policy expert at the University of Nebraska–Lincoln. Chinese companies like LandSpace and MinoSpace have worked to accrue funding through foreign investment, escaping dependence on state subsidies. And by avoiding state funding, a company can also avoid an array of restrictions on what it can and can’t do (such as constraints on talking with the media). Foreign investment also makes it easier to compete on a global scale: you’re taking on clients around the world, launching from other countries, and bringing talent from outside China. 

Although China is taking inspiration from the US in building out its private industry, the nature of the Chinese state also means these new companies face obstacles that their rivals in the West don’t have to worry about. While Chinese companies may look private on paper, they must still submit to government guidance and control, and accept some level of interference. It may be difficult for them to make a case to potential overseas customers that they are independent. The distinction between companies that are truly private and those that are more or less state actors is still quite fuzzy, especially if the government is a frequent customer. “That could still lead to a lack of trust from other partners,” says Goswami. It doesn’t help that the government itself is often very cagey about what its national program is even up to.

And Hines adds that it’s not always clear exactly how separate these companies are from, say, the People’s Liberation Army, given the historical ties between the space and defense sectors. “Some of these things will pose significant hurdles for the commercial space sector as it tries to expand,” he says.

Other challenges

None of these new companies are yet profitable, and it will be quite some time before they are. “There isn’t any sign of indication that this industry will flop,” says Hines. “But many experts do think a lot of these companies will go out of business.” Apart from the challenge of attracting customers outside China, many companies are still trying to figure out who exactly their customers ought to be. 

American companies like SpaceX and Blue Origin had billionaire founders ready to burn cash to take on large risks, push past big failures, and finally get off the ground. And while a Chinese billionaire entered the industry last year“there is no Chinese Elon Musk to push these riskier ventures forward,” says Hines. It’s also unclear whether Chinese companies, even those supported by wealthy backers, will have that appetite for risk.

Zheng says one thing Spacety has offered is exceptional transparency with clients for whom it is developing satellites—something that’s still uncommon for Chinese firms. “Many of them have no kind of spaceflight experience,” he says. “They want to see and learn what goes on, but the large companies won’t allow for that. We’re different.”

Lastly, China needs to figure out a legal framework that can guide the commercial industry in more explicit terms, and specify what’s allowed and what is not. It is the only major space power without a specialized space law. (The American version is Title 51 of the United States Code.) While the hope is that free enterprise can generate innovation, national governments are still liable for whatever space activities a country’s private companies conduct. There’s a need to license and approve these missions, ensuring that governments know what they’ve signed up for. 

Despite all this, China’s space industry is rolling forward. These new startups haven’t just adopted American business practices—they’ve also begun to embrace American startup culture as a way to foster business relationships and grow. During my video call with Spacety’s Zheng, the company’s Beijing CEO, Yang Feng, briefly dropped in to say hello, on his way back from a party where he’d been schmoozing and enjoying drinks with many peers and partners in the industry. “It’s part of the way we do business now,” Zheng said. “Innovation is not just new technology itself—it’s also a new way of doing things.” 

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Israel’s startup ecosystem powers ahead, amid a year of change

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Released in 2011 “Start-up Nation: The Story of Israel’s Economic Miracle” was a book that laid claim to the idea that Israel was an unusual type of country. It had produced and was poised to produce, an enormous number of technology startups, given its relatively small size. The moniker became so ubiquitous, both at home and abroad, that “Israel Startup Nation” is now the name of the country’s professional cycling team.

But it’s been hard to argue against this position in the last ten years, as the country powered ahead, famously producing ground-breaking startups like Waze, which was eventually picked up by Google for over $1 billion in 2013. Waze’s 100 employees received about $1.2 million on average, the largest payout to employees in Israeli high tech at the time, and the exit created a pool of new entrepreneurs and angel investors ever since.

Israel’s heady mix of questioning culture, tradition of national military service, higher education, the widespread use of English, appetite for risk and team spirit makes for a fertile place for fast-moving companies to appear.

And while Israel doesn’t have a Silicon Valley, it named its high-tech cluster “Silicon Wadi” (‘wadi’ means dry desert river bed in Arabic and colloquial Hebrew).

Much of Israel’s high-tech industry has emerged from former members of the country’s elite military intelligence units such as the Unit 8200 Intelligence division. From age 13 Israel’s students are exposed to advanced computing studies, and the cultural push to go into tech is strong. Traditional professions attract low salaries compared to software professionals.

Israel’s startups industry began emerging in the late 19080s and early 1990s. A significant event came with acquisitor by AOL of the the ICQ messaging system developed by Mirabilis. The Yozma Programme (Hebrew for “initiative”) from the government, in 1993, was seminal: It offered attractive tax incentives to foreign VCs in Israel and promised to double any investment with funds from the government. This came decades ahead of most western governments.

It wasn’t long before venture capital firms started up and major tech companies like Microsoft, Google and Samsung have R&D centers and accelerators located in the country.

So how are they doing?

At the start of 2020, Israeli startups and technology companies were looking back on a good 2019. Over the last decade, startup funding for Israeli entrepreneurs had increased by 400%. In 2019 there was a 30% increase in startup funding and a 102% increase in M&A activity. The country was experiencing a 6-year upward funding trend. And in 2019 Bay Area investors put $1.4 billion into Israeli companies.

By the end of last year, the annual Israeli Tech Review 2020 showed that Israeli tech firms had raised a record $9.93 billion in 2020, up 27% year on year, in 578 transactions – but M&A deals had plunged.

Israeli startups closed out December 2020 by raising $768 million in funding. In December 2018 that figure was $230 million, in 2019 it was just under $200 million.

Late-stage companies drew in $8.33 billion, from $6.51 billion in 2019, and there were 20 deals over $100 million totaling $3.26 billion, compared to 18 totaling $2.62 billion in 2019.

Top IPOs among startups were Lemonade, an AI-based insurance firm, on the New York Stock Exchange; and life sciences firm Nanox which raised $165 million on the Nasdaq.

The winners in 2020 were cybersecurity, fintech and internet of things, with food tech cooing on strong. But while the country has become famous for its cybersecurity startups, AI now accounts for nearly half of all investments into Israeli startups. That said, every sector is experiencing growth. Investors are also now favoring companies that speak to the Covid-era, such as cybersecurity, ecommerce and remote technologies for work and healthcare.

There are currently over 30 tech companies in Israel that are valued over $1 Billion. And four startups passed the $1 billion valuation just last year: mobile game developer Moon Active; Cato Networks, a cloud-based enterprise security platform; Ride-hailing app developer Gett got $100 million ahead of its rumored IPO; and behavioral biometrics startup BioCatch.

And there was a reminder that Israel can produce truly ‘magical’ tech: Tel Aviv battery storage firm StorDot raised money from Samsung Ventures and Russian billionaire Roman Abramovich for its battery which can fully charge a motor scooter in five minutes.

Unfortunately, the coronavirus pandemic put a break on mergers and acquisitions in 2020, as the world economy closed down.

M&A was just $7.8 billion in 93 deals, compared to over $14.2 billion in 143 M&A deals in 2019. RestAR was acquired by American giant Unity; CloudEssence was acquired by a U.S. cyber company; and Kenshoo acquired Signals Analytics.

And in 2020, Israeli companies made 121 funding deals on the Tel Aviv Stock Exchange and global capital markets, raising a total of $6.55 billion, compared to $1.95 billion raised in capital markets in Israel and abroad in 2019, as IPOs became an attractive exit alternative.

However, early-round investments (Seed + A Rounds) slowed due to pandemic uncertainty, but picked-up again towards the end of the year. As in other countries in ‘Covid 2020’, VC tended to focus on existing portfolio companies.

Covid brought unexpected upsides: Israeli startups, usually facing longs flight to Europe or the US to raise larger rounds of funding, suddenly found that Zoom was bringing investors to them.

Israeli startups adapted extremely well in the Covid era and that doesn’t look like changing. Startup Snapshot found that 55% startups profiled had changed (or considered changing) their product due to Covid-19. Meanwhile, remote-working – which comes naturally to Israeli entrepreneurs – is ‘flattening’ the world, giving a great advantage to normally distant startup ecosystems like Israel’s.

Via Transportation raised $400 million in Q1. Next Insurance raised $250 million in Q3. Seven exit transactions with over the $500 million mark happened in Q1–Q3/2020, compared to 10 for all of 2019. These included Checkmarx for $1.1 billion and Moovit, also for a billion.

There are three main hubs for the Israeli tech scene, in order of size: Tel Aviv, Herzliya and Jerusalem.

Jerusalem’s economy and therefore startup scene suffered after the second Intifada (the Palestinian uprising that began in late September 2000 and ended around 2005). But today the city is far more stable, and is therefore attracting an increasing number of startups. And let’s not forget visual recognition company Mobileye, now worth $9.11 billion (£7 billion), came from Jerusalem.

Israel’s government is very supportive of it’s high-tech economy. When it noticed seed-stage startups were flagging, the Israel Innovation Authority (IIA) announced the launch of a new funding program to help seed-stage and early-stage startups, earmarking NIS 80 million ($25 million) for the project.

This will offer participating companies grants worth 40 percent of an investment round up to $1.1 million and 50 percent of a total investment round for startups in the country or whose founders come from under-represented communities – Arab-Israeli, ultra-Orthodox, and women – in the high-tech industry.

Investments in Israeli seed-stage startups decreased both absolutely and as a percentage of total investments in Israeli startups (to 6% from 11%). However, the decline may also be a function of large tech firms setting up incubation hubs to cut up and absorb talent.

Another notable aspect of Israel’s startups scene is its, sometimes halting, attempt to engage with its Arab Israeli population. Arab Israelis account for 20% of Israel’s population but are hugely underrepresented in the tech sector. The Hybrid Programme is designed to address this disparity.

It, and others like it, this are a reminder that Israel is geographically in the Middle East. Since the recent normalization pact between Israel and the UAE, relations with Arab states have begun to thaw. Indeed, Over 50,000 Israelis have visited the United Arab Emirates since the agreement.

In late November, Dubai-based DIFC FinTech Hive—the biggest financial innovation hub in the Middle East—signed a milestone agreement with Israel’s Fintech-Aviv. Both entities will now work together to facilitate the cross-border exchange of knowledge and business between Israel and the United Arab Emirates.

Perhaps it’s a sign that Israel is becoming more at ease with its place in the region? Certainly, both Israel’s tech scene and the Arab world’s is set to benefit from these more cordial relations.

Our Israel survey is here.

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