ISRAEL’S FINTECH IS MOVING UP FAST
Israel’s Fintech industry has become a leader in financial innovation, thanks to a particular set of skills that include expertise in cross-over technologies like cybersecurity, big data analytics and AI. The industry is also powered by an active and diverse entrepreneurial Fintech community working in a dynamic and global perspective.
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These are just a few of the insights into Israel’s Fintech activities. KEYZUNA is close to this industry. Let us help you, our Japanese visitors, to identify the most suitable Israeli innovators for your specific needs.
ISRAEL’S POSITION IN CYBER SECURITY
The Israeli cyber security sector attracted more than $1 billion in private investments in 2018, a 22% increase over 2017. This sector has become the second richest cyber ecosystem globally after the USA.
As a small and exposed country, Israel has made massive investments in cyber preparedness to ensure that it doesn’t fall victim to its enemies’ intentions. The innovative drive to stay ahead of the evil-doers, supported by a rich start-up component, has been recognized by many nations. Israeli cyber know-how is now in high demand.
With its pioneering role in dealing with cyber threats, the industry operates across a wide spectrum. The categories defined by the Israel National Cyber Directorate (INCD) are:
Fraud, Identity and Access Management • Applications and Web Security • Network Security • End-Point Security • Intelligence /Governance, Risk Management, Compliance (GRC) • Cyber Security Services • Data Protection and Recovery • Mobile Security • Integrated Computer Solutions (ICS)/IoT Security • Cloud Security • Automotive Security • Medical Security.
Israel attributes its dominance in Cyber to many factors:
- The government acts as a coordinator – guiding and advising the interplay between itself, the military, businesses and universities. It is also a business catalyst.
- The military is a start-up incubator and accelerator. Its fames Unit 8200 attracts some of the best young innovators, who contribute first to the army’s protection and later become cyber workers.
- Israel invests greatly in human capital. Cyber is a study choice both at high school and university. There are six university research centers dedicated to cyber security.
- There is great encouragement to cross from one discipline to another and seek diversity. People condition themselves to see things from different angles and to reach beyond boundaries.
- The current cyber security strategy is focused on potential threats, not potential attackers. It relies on the layers of Robustness, Resilience and Defense, all working together.
In some areas such as civil aviation, hospitals and digital healthcare, the private sector is not reacting quickly enough. So the Israeli government, working through INCD, is taking the lead. INCD initiates widespread R&D efforts to find rapid and effective countermeasures.
Another challenge being picked up by INCD is that of malicious ‘influence campaigns’. How can nations prevent other nations and global organizations from interfering in their elections? The INCD ‘cyber breakthrough’ program supports ultra-high-risk private R&D projects geared towards these problems, but which could never get private VC backing. This is how ‘game-changing’ progress gets made.
These are just a few of the insights into Israel’s fascinating cyber industry. KEYZUNA is close to this industry. Let us help you, our Japanese visitors, to identify the most suitable Israeli innovators for your specific needs.