Israeli delegation of hi-tech entrepreneurs, investors, CEOs visit UAE
The Israeli delegation features 13 CEOs currently heading leading Israeli technology companies in the fields of cyber, finance, insurance and food.
By ZACHARY KEYSERLarge delegation led by entrepreneur Erel Margalit and JVP partners, includes 13 CEOs of leading Israeli technology companies in the fields of cyber, fintech, insurtech and foodtech.(photo credit: ELAD GUTMAN)
A delegation of Israeli high-tech entrepreneurs, led by venture capitalist Erel Margalit and the Jerusalem Venture Partners group, took off for the United Arab Emirates on Sunday to attend high-level meetings with UAE officials.The visit will look foster technology collaboration between Israel and the UAE following the Knesset approval of the US-brokered Abraham Accords - the normalization deal between Israel and its newfound Gulf counterpart.The Israeli delegation features 13 CEOs currently heading leading domestic companies with international portfolios in the fields of cyber, finance, insurance and food technology. Other members of the delegation include a former senior Mossad official and Israeli investors from JVP.The UAE - which is also internationally renowned in the fields of technology and innovation - personally extended the delegation an olive branch to meet with its senior ministers so as to bolster this important sector within both countries, and across the Middle East, through cooperation and collaboration."Hi-tech is the locomotive engine that leads the Israeli economy, so we have a key role in leading relations and cooperation with the Emirates, with an emphasis on partnership," said JVP founder and chairman of Margalit Startup City Margalit.Margalit added: "I am proud to lead the first Israeli hi-tech delegation to the Emirates. Our companies have been in business contact with the Emirates for a number of years, and now an opportunity has arisen to expand this network of relationships, deepen the ties significantly, and allow more and more Israeli companies and entrepreneurs to be part of this connection and success."Over the course of their four day stay, the delegation is slated to hold meetings with senior UAE officials and meet their Gulf counterparts in Dubai and Abu Dhabi - holding round table discussions with the latter on Tuesday - laying down the foundation for a future dominant Middle East partnership in technology, which will likely forward innovation across the region.Israeli companies involved in the delegation include Earnix, which specializes in insurance technology and banking safety; Up Control, a startup that focuses on remote working networks; Beersheba-based Morphisec, a leader in endpoint protection for organizations; and also from Beersheba, Secret Double Octopus, which specializes in providing biometric solutions for passwords.While insurance, banking and endpoint protection remain significant points of interest for the UAE, the Emirati government is also attracted to the field of food innovation and technology.One of the companies participating in the delegation is InnovoPro, an Israeli foodtech innovator that became the first company in the world to market a 70% chickpea-protein concentrate.
Companies worldwide are able to use it in dairy alternatives, meat analogues, sports nutrition, baked goods, snacks, spreads and ice-cream products. Its products have already been launched in the United States, Europe and Israel, and its hoping to break through into the Middle East market as well. JVP is one of its top investors."This is not just a business opportunity, but a political opportunity for a new page between the Israeli hi-tech community and the entire Middle East," stressed Margalit. "With us in the delegation, are the CEOs of emerging Israeli hi-tech companies from every field, and I am sure we will create real partnerships here that will contribute to building successful Israeli companies that will propel the Israeli economy forward, precisely during this period, and create more and more new jobs."
