12<\/a><\/sup>.cause for concern is the recent weakness of the TEVA Corporation that may negatively affect the total Israeli exports as well as the Tel Aviv Stock Exchange.<\/p>\n\n\n\nAPPENDIX \u2013 RESULTS OF INDICATORS COMPRISING THE HIGH-TECH INDEX<\/h3>\n\n\n\n The Startup Companies Sub-Index<\/strong><\/p>\n\n\n\n\nNet New Companies:<\/strong> The sub-index represents the net change in the number of Israeli companies operating in the high-tech industry. In other words, subtracting the number of Israeli high-tech companies that were closed from the number of Israeli high-tech companies that were established. It should be mentioned that the figure for 2016 is not final and is based on IVC estimations.<\/li>\n\n\n\nAmount and Value of Capital Raised by Companies:<\/strong> The total value and number of financing transactions in which Israeli high-tech companies raised capital from all investors \u2013 venture capital funds, angels and other investors.<\/li>\n\n\n\nNumber and Value of Exits:<\/strong> The monetary value of, and number of exits in which the Israeli high-tech companies participated. An exit is defined both as an initial offering (IPO) and a merger or acquisition (M&A).<\/li>\n<\/ol>\n\n\n\nCapital raised by VC Funds:<\/strong> The indicator totalizes the total capital raised by Israeli venture capital funds in a year. The figure constitutes an indication of the expected future investments of those same funds in Israel.<\/p>\n\n\n\n
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Mature Companies Sub-Index<\/h3>\n\n\n\n\nAdded Value:<\/strong> Defined as the difference between the gross output and total input. The sub-index is calculated as the sum of the added value, both in high-tech manufacturing and in high-tech services (the computer and software sector and the R&D services sector which includes startup companies).<\/li>\n\n\n\nHigh-Tech Exports:<\/strong> The total exports of the high-tech sectors in manufacturing and services including that of the startup companies.<\/li>\n\n\n\nRatio of Salaried High-Tech Employees:<\/strong> Ratio of high-tech employees, excluding employees in the communications services sector, out of the total employees in all sectors. <\/li>\n\n\n\nTechnology Stocks:<\/strong> The Tel Aviv Blue-Tech 50 Index, that includes the 50 shares with the highest market value of all the shares included in the TA Technology Index and the TA Biomed Index. The figure is calculated as an average of the daily closing indices, for each year.<\/li>\n\n\n\nNumber and Value of PE Transactions:<\/strong> PE financing includes bridging loans, financing via sale of shares, Buyout and mezzanine loans by Israeli high-tech companies. <\/li>\n\n\n\nNumber and Value of Secondary Offerings:<\/strong> Number and value of the rounds of public financing undertaken by Israeli high-tech companies whose securities are already registered for trade (secondary offerings). This variable represents the continued growth of Israeli public companies.<\/li>\n\n\n\nValue and Amount of High-Tech Acquisitions:<\/strong> The total sum of all merger and acquisition transactions executed by Israeli high-tech companies, while the acquired company is not necessarily Israeli or technological. <\/li>\n<\/ol>\n\n\n\n
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