Global investment in Israeli agritech companies has increased significantly this year! According to a recent report by Start-up Nation Central, a non-profit organization that seeks to connect companies with Israeli tech firms, investment in Israel’s agritech sector has increased from 2016’s annual total of $97 million to $131 million in just the first 9 months of 2017!
This 35% increase in investment worldwide reflects the significant contributions that Israeli agricultural sciences has provided to other countries that desire to maintain and even increase their food supply in an efficient manner. There are currently 460 active agritech companies in Israel; half of which were founded in the last 10 years and 25% of them founded in just the last 5 years. These companies have used their unique “smart technology” to address global issues pertaining to food that require more innovative solutions. Such food issues that are currently faced worldwide according to the report as explained in a recent article from the Times of Israel include, “food insecurity and safety, manual labor shortages, and environmental strains.”
Israel’s R&D (Research and Development) by its universities have helped it maintain its respectable presence internationally as an agritech savvy nation. With the expected increase of about 10 billion in global population of the mid-century, government officials will be looking for even more innovative ways to yield healthy produce that can withstand various types of climate. Accordingly, Israel is sure to play a major role in this challenge!
Further, we may be seeing Israeli agricultural technology making an impact in Texas post Agricultural Commissioner Sid Miller’s visit in March to the Jewish State. In this historic visit, Commissioner Miller signed a “Declaration of Cooperation” with Israel which openly articulates Texas’ interest to mutually work together with Israel, particularly through trade and the implementation of each state’s respective technological innovations, to best confront issues pertaining to water, livestock genetics and agriculture. More on this declaration and about the other areas of economic overlap between both “Lone Star” States can be found in our June newsletter article, “How Israel and Texas Can Work Together to Strengthen Their Respective Economic Goals.”