Thursday, December 3rd | 17 Kislev 5781

August 14, 2015 5:58 pm

Israel Venture Activist Jon Medved: China Could Invest Up to $1 Billion in Israeli Tech This Year

avatar by Eliezer Sherman

Israel's Iron Dome launches a missile to intercept a Gaza rocket during Operation Pillar of Defense in 2012. Photo: Matanya via Wikimedia Commons.

Iron Dome. Photo: Matanya via Wikimedia Commons.

China could be investing up to $1 billion in Israeli tech this year, OurCrowd CEO Jon Medved told Bloomberg on Wednesday.

Medved said China “needs innovation and new technology … and real technology,” which he explained focused almost exclusively on the vast device-to-cloud network known as the Internet of Things, technology he called a “game-changer.”

“We’re going from four or five billion devices to a hundred billion devices, who knows?” pondered Medved, whose OurCrowd is an equity crowdfunding website devoted to Israeli technology.

Medved cited Israel’s Iron Dome anti-missile defense system, which successfully protected Israeli cities and severely limited casualties during last summer’s hostility with Hamas in Gaza, as the type of technology whetting Chinese investors’ appetites.

Related coverage

March 5, 2018 11:35 am

French Public Intellectual Bernard-Henri Lévy Renews Call for Solidarity With Kurds at AIPAC Policy Conference

The most high-profile international champion of the Kurdish cause arrived at the 2018 AIPAC Policy Conference in Washington, DC to...

But he said that beyond defense technology, China was truly interested in using this technology in industrial fields: the electrical grid, water networks, smart cities.

“That’s the kind of stuff the Chinese want. They want drones, they want robotics, they want big data analytics,” he said, describing the Chinese relationship with Israeli tech as a “love affair.”

“Right now, to have an Israeli product in China is good,” he said, despite political efforts such as the boycott, divestment and sanctions movement that seeks to isolate Israel economically over its handling of the Palestinian issue.

Medved also downplayed the widely reported rift in U.S.-Israeli relations, relegating it to a dispute between President Barack Obama and Israeli Prime Minister Benjamin Netanyahu, which he insisted has not boiled down to the business community.

“The American-Israeli relationship has never been stronger,” he said, noting that General Electric, General Motors, Intel, Google, Facebook, Cisco and other U.S. companies have established R&D centers in Israel; there are 300 such R&D facilities, he said.

Business Insider meanwhile reported that 2015 has been a record-setting year for Israeli tech companies in terms of venture capital funding. In the first half of 2015, 342 companies have attracted $2.1 billion, compared to $1.6 billion during the same period in 2014.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.