TechNation/ Investment in Business Sector R&D Up 3% in 2013

NIS 40.9 million invested in business sector R&D in 2013, up 3% over the year before; OurCrowd opening Toronto office; Radware hiring 100 new people.

Tomer Appelbaum

NIS 40.9 million invested in business sector R&D in 2013, up 3% over the year before

A total of 40.9 billion shekels ($10.9 billion) was invested in research and development in the Israeli business sector in 2013, the Central Bureau of Statistics reported on Tuesday. That was 3% more than in 2012 and represented a whopping 3.5% of the country’s gross domestic product. About 64,000 Israelis were employed in full-time research and development jobs in 2013, the CBS said, adding that at 21.7 billion shekels, just over half of business sector research and development expenses in Israel that year, were funded by sources abroad.

Israel’s leading ranking in R&D among the countries of OECD, the grouping of the world’s advanced economies, is in part the result of overseas funding by multinationals with a presence in Israel and by other foreign investors. The year 2013 saw a 17.7% drop in R&D funding from venture capital funds. Among traditional industry in 2013, 10 plants accounted for 43.3% of R&D expenditure. (Moti Bassok)

OurCrowd opening Toronto office

The Jerusalem-based crowdfunding equity platform OurCrowd has announced that it will be opening an office in Canada and initially will be aiming for a $1 million investment in Influitive, a Toronto company that helps other firms build sales through referrals, recommendations, reviews and other promotional means. OurCrowd’s Canadian office, which will also be located in Toronto, will be headed by Canadian venture capital executive David Shore. (TheMarker)

Radware hiring 100 new people

Radware, the Nasdaq-traded Israeli application delivery and information security firm, has announced that it will be hiring about 100 people for positions in Tel Aviv and Jerusalem, including developers, engineers technology architects, cyber researchers and other staff with an expertise in software engineering and computer sciences. Radware currently has a staff of about 1,000, about 450 of whom are in Israel at its Ramat Hayal Tel Aviv headquarters and at its development and production center at Har Hahotzvim in Jerusalem. The company’s clients include banks, telecommunications companies and tech firms. (Amitai Ziv)