Tech Nation: Israeli Startups Sell More Quickly Than European Ones

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The Waze traffic and travel app now directs some 1 million Israeli drivers a day.
The Waze traffic and travel app now directs some 1 million Israeli drivers a day.Credit: Reuters

Startups bought up more quickly in Israel than in Europe, 3.95 years on average

Israeli startups get acquired more quickly than their European counterparts, the Wall Street Journal has reported, citing data from Dow Jones VentureSource. At the end the third quarter of this year, the eight Israeli venture-backed firms that were bought up took 3.95 years from the first round of funding to the exit. Germany came in just behind Israel at 3.97 years, but by contrast, the average period in Britain was 6.66 years. “In Israel, the pace is accelerating. The lifespan of a tech startup before being gobbled up has gone from 8.59 years in 2009, ” the Journal noted, “to the current 3.95, by the end of the third quarter of 2014. The pace has been controversial in Israel, where critics have said entrepreneurs are too quick to sell out – often to foreigners – opting not to build their business to its potential. But some Israeli tech observers say it's part of the Israel startup culture – to quickly move from idea to idea.” (TheMarker)

Gaza startup accelerator, Gaza Sky Geeks, seeking crowdsourced contributions

Having surpassed its initial goal of raising $70,000 to save the joint workspace that it has been using, the Gaza Strip-based accelerator Gaza Sky Geeks is seeking additional donations via the Indiegogo crowd-funding website to retain its staff and expand its startup pipeline. According to Indiegogo, over the last three years, Gaza Sky Geeks, the only startup accelerator in Gaza, has “sparked a startup movement,” running competitions and providing training. “Our co-working space is the cornerstone of Gaza’s startup ecosystem. It’s a home for startups, young people who are exploring the idea of launching a startup, the local Microsoft Student Partners and Google Developers Groups, and our startups who have received investment,” the promotional material on the accelerator states. As of the end of last week, nearly $140,000 has been raised. (TheMarker) 

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