(JTA) Buzzy Gordon - Israeli high-tech companies raised $1.01 billion from domestic and foreign venture-capital firms in 2003, staying above the $1 billion mark for the fifth straight year. Although the figure is 11% below the $1.138 billion raised in 2002, 20 more private Israeli companies - a total of 372 - raised money in 2003. According to the annual survey conducted by the IVC Research Center, a division of Giza Venture Capital, investment in seed-stage companies tripled in 2003. "With over $1 billion invested in almost 400 different companies, Israel has again demonstrated that our Silicon Wadi truly is the world's second Silicon Valley," said Jon Medved, co-founder of the Jerusalem-based Israel Seed Fund. "I expect that 2004 will bring more of the same." Another trend shows an increase in the popularity of the life sciences sector, comprising biotechnology and medical devices and diagnostics.
2004-01-30 00:00:00Full ArticleBACK Visit the Daily Alert Archive