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Business Secretary praises Israel tech at event for Israeli-Arab start-ups
Business Secretary Sajid Javid backed further UK-Israel tech cooperation and highlighted the important role to be played by the Israeli-Arab sector.
Javid was the guest speaker at the second Arabtech event, which brings together tech start-ups from the Israeli-Arab sector to build links with British companies. It is part of an initiative by the UK Israel Tech Hub from the British Embassy in Tel Aviv, which has overseen a delegation of ten Israeli-Arab start-ups on a three-day visit to London, designed to boost ties.
Speaking at the Arabtech event yesterday, Javid said “If the UK is going to thrive as a digital centre and become one of the best it has to work with the best in the world and that of course includes Israel.” In this context, he said there is “incredible potential in the Arab-Israeli community,” especially in areas such as Arabic-language digital content.
Javid highlighted the importance of UK-Israel trade and business. He said that “more than 300 Israeli companies with a physical presence in the UK” are “responsible for thousands of jobs.” There are currently 16 Israeli tech firms listed across London Stock Exchange’s markets with a combined market value of £3.7 billion. Overall trade between the two countries is now worth more than £4.5 billion per year.
Earlier this week, it was announced that hundreds of British and Israeli researchers will benefit from new bilateral programmes agreed between Israel’s Ministry of Science, Technology and Space and the UK Government’s Science and Innovation Network. The new initiatives, announced to coincide with UK Israel Science Day, will benefit areas including water, medicine, agriculture and nanotechnology.
UK Ambassador to Israel David Quarrey said, “The UK is proud that more Israeli students and scientists will now be working together with their British peers,” adding that “Collaboration between British and Israeli scientists can have real impact.” Israel’s Science, Technology and Space Minister Ophir Akunis called the initiative “yet another British vote of confidence in Israeli science and technology.”