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Monday, January 25, 2016

How Israel became the go-to place for cyber-security

The Chief Scientist’s Office of the Economy Ministry has been a key partner in raising the sector to second place worldwide after the US.

Most people grumble about how the government spends their money, but a new report on the Israeli cyber industry shows that money laid out by the Chief Scientist’s Office of the Economy Ministry was indeed well-spent. Released by the IVC Research Center, the report highlights the tight interplay between industry, investors, and the government in turning Israel into a center of cyber-security technology. Indeed, it is second only to the United States, according to Gadi Tirosh, managing partner at Jerusalem Venture Partners, which has been one of the country’s most active investors in cyber-security. 

“We have a very unique partnership here that has made Israel into a clear number two in cyber-security,” said Tirosh at a press conference introducing the report. “We have hubs of expertise in which cyber-security experts develop new ideas into companies, supported by the Chief Scientist’s Office, and as those companies grow, venture capital investors get involved. The talent here is world-class and Israeli cyber-security will continue to a big part of the solution to our global cyber-security challenges.” (Read More)