Israel Sees Tech Funding Slump Amid Political Chaos

Funding for Israeli tech firms has slumped 65% in Q2 of 2023 when compared to the same period in 2022 new data shows, with political instability in the country causing major issues.

The data from the IVC Research Centre and LeumiTech shows that the once booming high-tech sector in the country may have hit a wall, having once been the fastest growing sector in Israel for a decade.

Israel made several major innovations in the technology sector that had a major influence of logisitcs, making changes in cybersecurity, artificial intelligence and robotization.

However, after the Israeli government announced a plan to change the functioning of its judiciary, investors have gotten spooked, fearing for their finances.

Further, with continuing incursions into Palestine, trust has been broken between Middle Eastern states and Israel after the Abraham Accords, mediated by the United States, that aimed for a new beginning in the region.

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