London is the main European vacation spot for Israeli know-how corporations trying to increase abroad the Mayor Boris Johnson will say right now (9 November), as he urges extra Israeli companies to find within the capital firstly of a three-day commerce mission to Israel.
Israel boasts one of many world’s main tech sectors and, in response to analysis compiled by London & Companions, the Mayor’s promotional firm and IVC Analysis Middle, London has turn into the primary metropolis in Europe for Israeli tech companies trying to listing on the inventory market, with corporations drawn by the town’s quick access to capital and its robust entrepreneurial tradition1.
Know-how corporations make up over three quarters (76%) of all Israeli corporations listed on the London Inventory Trade and during the last 5 years they’ve raised over £240 million by means of these listings. There are presently 16 Israeli tech companies listed throughout London Inventory Change’s markets with a mixed market worth of £three.7 billion2.
The Mayor of London, Boris Johnson MP, stated: “London is the pure tech companion for Israeli companies trying to broaden. With entry to a world class expertise pool and a booming digital financial system it’s no shock that Israeli tech corporations are making London their house and selecting the London Inventory Trade as their worldwide marketplace for enlargement. I’m right here to encourage much more of Israel’s prime tech expertise to go to our shores.”
The Mayor will attend a number of occasions in Tel Aviv with an goal of accelerating commerce hyperlinks with London, together with visits to the Tel Aviv Inventory Trade and Google Campus. He’ll be a part of Nikhil Rathi, the Chief Government of the London Inventory Change, to formally open the day’s buying and selling on the Tel Aviv Inventory Change this morning, alongside a delegation of UK tech companies.
Nikhil Rathi, Chief Government of the London Inventory Trade, added: “London Inventory Change is dedicated to making sure formidable, quick rising companies from around the globe have entry to fairness capital. Israel is world-renowned for its spectacular document in nurturing know-how start-ups and we consider London is the pure vacation spot for these corporations once they look to boost finance to develop on the worldwide stage. In 2014 we noticed extra companies from Israel record on our markets than another nation outdoors the UK and with a robust pipeline we’re assured that this development will proceed. We have been notably excited this year to see an Israeli firm, eToro, be a part of our revolutionary enterprise help programme, ELITE. And now we’ve got secured permission from the Israeli authorities, we look ahead to welcoming Israeli companies as buying and selling members on the London Inventory Change and Turquoise.”
Later within the day the Mayor will head to Tel Aviv’s Google Campus, the place a few of London’s most enjoyable new know-how companies will probably be exhibiting their tech savvy in a bid to construct hyperlinks with their Israeli counterparts. There are big alternatives for collaboration between London and Israel’s booming know-how sectors, and the Mayor will use the occasion to champion London as Europe’s main vacation spot for brand spanking new know-how companies. Israeli tech companies are already utilizing London as a base to increase into worldwide markets. The capital at present homes 141 Israeli tech companies, representing over half of the 239 Israeli corporations with an workplace within the UK in line with knowledge collected by IVC.1
At immediately’s tech occasion, James Layfield CEO of UK workspace supplier, Central Working, will announce the organisation’s plans to convey 20 main Israeli start-ups to London. The beginning-ups chosen for the programme won’t solely profit from work area at considered one of Central Working’s 4 places in London, however extra importantly could have entry to the mentoring and help of their group to assist them speed up their progress.
To coincide together with his involvement on the Mayor’s journey, the Mayor will appoint James Layfield a know-how ambassador for London. He’ll be a part of different ambassadors resembling Russ Shaw, Founding father of Tech London Advocates, Eileen Burbidge, Chair of Tech Metropolis UK and the UK Authorities’s Fintech envoy and Sarah Wooden, CEO Unruly, to assist promote the capital’s tech sector on a world stage.
James Laysubject, CEO Central Working stated: “I’ve been a proud advocate for London’s thriving tech scene for a few years and for my part London would be the international metropolis of selection for tech innovation inside the subsequent 5 years. Our digital entrepreneurs are already competing fiercely with these from New York and Silicon Valley and I’m delighted that as a tech ambassador for London I will help unfold the message about why London is the know-how capital of the world. Robust group lies on the coronary heart of Israeli tradition and Central Working’s power is in our nurturing group, so I’m thrilled to welcome these implausible Israeli tech start-ups into the community and have the chance to assist them broaden and thrive in a brand new market.”
In accordance with the findings of the European Digital Metropolis Indexthree, a brand new report from innovation charity Nesta and the European Digital Discussion board, London is the most effective metropolis in Europe for digital entrepreneurs trying to begin and scale up a digital enterprise. Of the 35 European tech hubs that have been surveyed, London ranked highest when it comes to entry to capital, entrepreneurial tradition and high quality of analysis establishments, outperforming different main European cities comparable to Paris, Berlin and Amsterdam.
Geoff Mulgan, Chief Government of Nesta stated: “Our analysis confirmed that London has turn out to be Europe’s greatest metropolis for serving to digital start-ups to thrive and scale. It is received unrivalled entry to capital, a robust entrepreneurial tradition, and information spillovers – and, due to this, is pulling in plenty of digital entrepreneurs from around the globe in addition to a exceptional quantity of funding.”
Additional analysis by London & Companions discovered that Israeli tech corporations are being interested in London by the report degree of funding flowing into the sector, with Enterprise Capital funding into London already at report ranges and reaching over $1.7 billion because the starting of the yr, eclipsing the $1.three billion raised in the entire of 2014four.
Enterprise Capital funding into Israel can also be robust, with London & Companions analysis displaying that ranges of funding into tech are just like London – it has reached over $four billion within the final 5 years.
Talking alongside the Mayor on the occasion at Google’s ‘Campus Tel Aviv’, Meir Model, Managing Director EMEA Rising Markets for Google, stated: “Tel Aviv and London are two of probably the most thrilling know-how hubs, and Israel and the UK are more and more influential centres of innovation. Each foster entrepreneurship, have top notch tech expertise, and are engaging to buyers. Google arrange its first Campus for start-ups and builders in London – and it’s second in Tel Aviv. I’m positive that collaboration and partnerships between the tech communities in Israel and the UK will flourish much more in years to return.”
Gordon Innes, CEO of London & Companions, the Mayor’s inward funding firm stated: “Israel is a pure companion for London for commerce and funding. With complementary strengths when it comes to entry to capital, a robust tradition of entrepreneurship and a enterprise pleasant coverage surroundings, there are numerous alternatives for collaboration. However London provides Israeli corporations higher probability to internationalise and scale. With document ranges of progress capital being pumped into London’s tech sector and quick access to worldwide markets, there has arguably by no means been a greater time for an Israeli tech firm to make use of London as a springboard for progress into Europe, the US and past.”
The 16 corporations from London exhibiting on the Google campus occasion characterize two of London’s quickest rising digital sectors – schooling know-how and concrete options. London leads the best way within the improvement of city answer applied sciences, a worldwide market estimated to rise to $408 billion by 20205. The capital has pioneered revolutionary sensible cities applied sciences together with the introduction of programmes such because the London Datastore – one of many first platforms worldwide to make public knowledge open and accessible
In accordance with a current report by London & Companions and Edtech UK, the worldwide schooling know-how sector is value £45bn in 2015 and poised to succeed in £129bn by 20206. Ian Fordham, CEO of the UK’s schooling know-how strategic physique, Edtech UK, stated: “The UK is residence to a number of the world’s main faculties, schools, universities and schooling companies. The businesses accompanying the Mayor on this journey are proof of the UK and London’s power on this quick rising sector. With over 200 edtech start-ups in London and extra world-class universities than some other metropolis on the earth London can develop into the edtech capital of the world.”
Whereas in Tel Aviv the Mayor may also host a reception anticipated to draw lots of of representatives of the native enterprise group. He’ll inform them that London ought to be their first precedence when contemplating enterprise markets outdoors Israel and urge them to comply with the instance of two Israeli corporations who will affirm as we speak that they’re increasing their operations within the capital.
Apos Remedy is a enterprise specialising in easing knee and again ache that was based in Israel in 2005, however they’re now placing Britain on the coronary heart of their European operations by confirming that their new European headquarters shall be in London. The capital’s extremely expert medical work drive and the dimensions of the market have proved the right lure for Apos to decide on London as their gateway into the European market.
Elad Duschak, President, AposTherapy UK & International Chief Advertising Officer, stated: “London have been a fantastic hub for us to interact and collaborate with the medical group and main healthcare suppliers. We’re wanting ahead to additional increase our presence inside the capital’s well being system and make AposTherapy extra extensively out there for sufferers. Thanks to the help of London & Companions and UKTI Israel we now have been capable of broaden nationally and export globally!”
Clarisite are an Israeli software program firm specialising within the evaluation of buyer behaviour. In the present day they’ll affirm that they’ve now determined to make London their international headquarters because of the entry that the town provides them to the world’s main international monetary providers and insurance coverage corporations.
Clarisite is a disruptive supplier of Digital buyer expertise. It supplies superior options for Digital behavioural analytics in addition to danger administration and compliance for Monetary Providers establishments. At present they may affirm that they’ve now determined to make London their international headquarters because of the entry to the world’s main international monetary providers and insurance coverage corporations, as nicely the infrastructure and help the town of London and the British Authorities are offering.
Yaron Morgenstern, Clarisite’s CEO who is predicated in London stated: “We’re excited to broaden our operations in London and to make it our International Headquarters. Working from the guts of the Monetary Providers Business the support we’re getting from London & Companions in addition to UKTI Israel presents an incredible alternative for us and permits us to greatest serve our International shoppers”.
The Mayor’s enterprise reception is being sponsored by Financial institution Leumi who’re launching ‘LeumiTech’ – a set of monetary services tailor-made to the wants of Israeli start-up corporations working in London. They have been drawn by the large wave of Israeli hello tech corporations selecting London as their primary vacation spot to open new companies, launch and broaden present companies. They usually consider their programme will assist speed up the cooperation between Israeli and UK excessive tech corporations and can contribute to innovation and technological breakthroughs.
Financial institution Leumi’s new programme sees them come full circle because the Financial institution was established in London 113 years in the past, and is now launching its providers there for the businesses of the subsequent century.