The UK Israel Tech Hub has generated 175 tech partnerships in deals worth £85 million since it was established in 2011, a new report has revealed.
The Hub has been so successful that it has helped boost the UK economy by an estimated £800 million.
Over 150 UK companies together with 490 Israeli companies engaged in hub activities over the past year. According to the report, the last year has seen more UK organisations using cutting edge technologies in their business in areas including Artificial Intelligence, chatbots, blockchain and Internet of Things (IoT) and in projects such as smart cities and smart industries.
Commenting upon the publication of the report, Secretary of State for Digital, Culture, Media and Sport Rt. Hon. Matt Hancock MP said: “I am very proud of everything the UK Israel Tech Hub has done in assuring that British companies are first in line for discovering Israel’s world-leading innovative technology”.
The Culture Secretary added: “We want the UK to be the best place in the world to start and grow a digital business, but to do that we need to work with like-minded tech nations. The UK Israel Tech Hub has given aspiring British companies the opportunity to discover Israel’s world leading innovative technology. Through its success we’re now expanding the scheme to create a global network of hubs, connecting digital dynamos across the world”.
British Ambassador to Israel David Quarrey said: “The Hub has successfully connected the vibrant tech sectors in both countries throughout the years. These new partnerships mean the UK is now a major destination for Israeli innovation, and Israeli innovation is now part of many areas of life in the UK”.
Ayelet Mavor, Director of the UK Israel Tech Hub, said: “We are pleased to see more and more UK companies tackling their innovation challenges and creating long term partnerships meant to incorporate Israeli innovation into their businesses and create sustainable value for them. RBS, HSBC as well as organisations such as the NHS, are paving the way for their UK peers to work with innovators and create real win-win partnerships”.
Click here to read the report in full.
