Dear Tech Leader,
On October 7th, when the Hamas terrorists decided to carry out one of the most horrific massacres the world has seen in recent decades, it made a huge strategic error. Rather than crushing Israel’s spirit and reaping long-term benefits for itself at Israel’s expense, Hamas’s sickening rampage caused the opposite effect: Israel’s citizens unanimously joined together to take up arms, both literally and figuratively, in order to make sure that we will emerge from this disaster stronger than ever before.
In fact, Hamas failed to take into account the unique resilience and unparalleled determination of Israel’s population. Hundreds of thousands of men and women of all walks of life didn’t hesitate to enlist in the reserve army immediately following the events of October 7th, and millions more joined an enormous wave of volunteerism. Within days, hundreds of grassroots initiatives were spontaneously created to support the survivors and the families of those whose loved ones were murdered or kidnapped, as well as to make sure that all the soldiers receive everything they need.
From my vantage point as the CEO of the Israel Innovation Authority, I was not surprised by the way Israelis responded. In fact, I am very familiar with this can-do attitude, which I have witnessed numerous times professionally. Stepping up to challenges and not accepting defeat is part of the Israeli DNA. We are full of energy and good ideas, and we are willing to take considerable risks to fulfill our vision. This was always the secret of the Start-Up Nation phenomenon and the reason we have succeeded in building one of the most advanced economies in the world and that we have earned our place as a global leader in so many high-tech sectors with countless breakthroughs that have benefitted the whole world.
Indeed, we are a nation that has faced plenty of difficult times, but we have always pulled ourselves up by our bootstraps. Throughout the last several decades, Israel’s high-tech sector has consistently emerged from every crisis stronger than before – and that is exactly what will happen this time as well.
During these difficult times, when Israeli resilience is once again on full display, I can assure you that we are more determined than ever to continue nurturing our precious Start-Up Nation. The Israel Innovation Authority is fully committed to ensuring that our many talented entrepreneurs, promising start-ups and high-tech companies will continue to thrive well into the future. In fact, we have already issued an emergency $100 million bridge funding plan for runway extension of start-ups that were in the middle of a fund-raising round. This aid is just the beginning and is expected to be joined by additional measures designed to meet the immediate and future needs of the tech sector.
We have been greatly heartened by the moral stand and actions taken by the global tech community and leaders, including the letter of support for Israel signed by over 800 VCs worldwide, as well as the long list of multinationals who condemned Hamas’s terror attack on Israel, to name a few. We deeply appreciate these acts of standing with Israel and are very thankful for them.
I would like to take this opportunity to assure you that Israeli companies and their management are extremely robust and that Israeli high-tech companies will continue to deliver, no matter what. I hope you will show your solidarity by continuing to invest in Israeli technology and buy Israeli tech services and products, and through your ongoing moral backing. Your support is crucial in helping us ensure that Israeli tech will come out of this victorious!
CEO, Israel Innovation Authority