Survey: Financial Crunch Jeopardizing Israeli Startups (AUDIO INTERVIEW)
The Media Line speaks with Israel Innovation Authority research chief Maayan Keren Zur – who nevertheless remains optimistic
A recent survey of young start-ups in Israel shows that more than half could go under as soon as six months from now. The culprit is the coronavirus pandemic and the financial damage it has done to hi-tech investment.
A key finding of the study, which covered 414 firms in mid-May, has to do with the availability of further funding. Just over half of the respondents said they had turned to investors for more money. Of these, more than 80% said they had been either turned down flat or told the investors needed more time to think about it.
To gain some insight into what this and other study findings might mean, The Media Line spoke with Maayan Keren Zur, head of research in the strategy division at the Israel Innovation Authority, a partner in the survey with the hi-tech umbrella group Israel Advanced Technologies Industries.