TECHNOLOGY

TEL AVIV , ISRAEL

Number of fintechs : 184 Tel Aviv is a hub for science , technology and engineering so it ’ s no surprise that the city has also become a major player in fintech and insurtech . In fact , its booming technological sector has earned it the nickname ‘ Silicon Wadi ’, after the Hebrew word for valley , and is one of the reasons why Israel is known as the ‘ Startup Nation ’. Aside from its own success stories , Tel Aviv is also a hub for foreign tech giants such as Intel , IBM and Microsoft .

High levels of support for tech startups , particularly low-interest loans from the Israeli government , have contributed to the success of Tel Aviv ’ s technology sector . Together with a thriving venture capital and accelerator scene , it makes it easier for young Israelis to start their own business . This has created a culture of entrepreneurship that , at one point , was estimated to mean twice as many Israeli graduates going on to form their own startup compared with their US counterparts .

Some success stories move abroad , particularly to the US , while others stay in Israel . The best known include investment platforms eToro , OurCrowd and Plus500 . Meanwhile Atidot , which provides AI and machine-learning for the life insurance industry , and fraud prevention service Identiq are good examples of Israel ’ s hightech pedigree .

TEL AVIV

108 April 2022

FINANCIAL WORKERS INSIDE ONE OF THE

SKYSCRAPER OFFICES IN TEL AVIV