CTECH

CTECH: Israel While in War- Innovation & Technology News Oct. 25, 2023

CTECH: Israel While in War- Innovation & Technology News Oct. 25, 2023

1948 Ventures launches amid war, reaffirms a bright future for Israeli tech. The VC fund will invest at the early stage in dual-use technology, with military and civilian applications. Read more

Cyber startup Island takes valuation to $1.5 billion, funding to over $325 million, with $100M Series C. The company, which develops a secure enterprise browser, has sold over 2 million browsers to customers. Read more

Telegram blocks Hamas channels on Android following Google pressure. After Google warned the instant messaging service against providing a platform to the channels of the murderous terrorist organization from Gaza, Pavel Durov’s instant messaging application blocked several of them, including the official channel of the organization’s military arm. The channels are still available on the iPhone and computer versions of Telegram. Read more

Gaza war will cost Israel economy over $17 billion. Meitav Investments House estimates that the costs of the war with Hamas will be double the cost of the Second Lebanon War, compensation for all those affected to reach NIS 17 billion ($4.18 billion), and tax revenue loss of NIS 31 billion ($7.1 billion). Read more

Creditors demand to liquidate Vesttoo and halt any attempt to reorganize the company. “Vesttoo – viewed as the Madoff of insurance – never operated as a business or as a going concern without revenue from the fraud,” read a statement by the Official Committee of Unsecured Creditors in the Vesttoo bankruptcy case. Read more

Waze and Google maps disable real-time traffic reports in Israel due to Gaza war. This is not the first time Google has taken such action. In the early stages of Russia’s invasion of Ukraine, Google disabled its real-time mapping services to prevent the tracking of military movements and civilians seeking shelter. Read more

Survey: Over 70% of Israeli high-tech companies report difficulties due to IDF reserve call-up. A survey conducted by the Israel Innovation Authority and SNPI among 500 high-tech companies shows that 40% of them reported the cancellation or delay of investment agreements; Only 16% said they have not been harmed as a result of the war. Read more

Poison ivy: Gaza war rocks reputation of Ivy League schools. Harvard President Claudine Gay’s attempts to apologize on behalf of students who accused Israel of being responsible for the massacre did not calm matters, and the world-renowned university could suffer serious damage to its reputation. Read more

X factor: Independent social media influencers leave mainstream media in their dust in Gaza war information battle. According to a report by the University of Washington, seven independent accounts that do not adhere to the rules of journalistic ethics received 1.6 billion views in the first three days of the war – an average of 872,000 views per post. This is a significantly higher number than the views of posts on CNN, Reuters, BBC or the New York Times, which had an average of 376,000 views per post. Read more

Canadian Jewish community raises $100 million CAD to support Israel. This is the largest ever fundraising campaign for Israel organized by the Canadian Jewish community, amid concerns of rising antisemitism in Canada and six confirmed Canadians killed by Hamas. Read more

The day WhatsApp changed from a messaging app to a lifesaver in war. The October 7th war will be etched in the minds of Israelis as a war in which WhatsApp emerged as the most crucial means of communication, serving not just individuals to share their status and location but as a life-saving tool for soldiers and fighters in the field. Read more

Anti-Israel activists attempt to ‘wipe Tel Aviv off the map’. An anti-Israel user of open mapping platform OpenStreetMap (OSM) deleted all mapping information about Tel Aviv on Saturday, but was quickly detected and stopped by the community of Israeli editors. Read more

“I’m ashamed to be part of this company today.” Global electronics company Flex, which has 4,000 employees in Israel, has been criticized by its Israeli employees for its “nothing response” following Hamas’ October 7th massacre which included the murder of company employees. Read more

“This is probably the first AI war.” Bot armies that anyone can activate on WhatsApp, software to easily hack photos, and chatbots that generate news that didn’t happen: media expert Dr. Alex Gekker explains how the decline of Twitter and the rise of artificial intelligence changed everything in the battle of advocacy. Read more

Leaping into action: JFrog CEO rushes to Israel in show of solidarity. Shlomi Ben Haim, the Israeli CEO of JFrog who lives in California, tells why he decided to fly back to Israel immediately when the war broke out, what the key elements in the company’s emergency plan are, and how you continue to run a global Israeli company during these times. “When the board asked why I was flying to Israel. I said I needed to be there with our employees.” Read more

Israeli biotech startup Amai Proteins dealing with loss, grief, and uncertainty after murderous Hamas rampage. Following Hamas’ October 7th attack, Amai Proteins, which has only 32 employees, is navigating loss. Dr. Lilia Gurevich-Vasilkovsky, the head of the company’s molecular biology department, was murdered, three employees have kidnapped or murdered relatives, six were drafted to the IDF and three are parents of soldiers. Read more

“For every fallen soldier, for every murdered civilian, let’s put together a new innovative startup,” says entrepreneur Izhar Shay, whose son was killed by Hamas. “Let’s put together a moral response to this evil attack on humanity by putting the foundations for thousands of new innovative businesses that will make this world better in so many ways,” said Shay. Read more

Israel Innovation Authority launching $25 million grant fund to support 100 startups. The program is aimed at Israeli startups with a limited future capital runway who are facing difficulties in raising the necessary capital. Read more

Jewish Federations raises $388 million for Israel to help its citizens. The number already represents two-thirds of its $500 million target to help the country. Read more

HR in War | “We are looking ahead with a heavy heart and a strong belief that we will prevail.” Travelier is a global travel company – but its ‘mother company’ is now at war. What happens next? Read more

Israel’s post-war economic roller coaster: Recession, then rebound. Economist Amir Kahanovich predicts that the Israeli economy will enter a recession following the war but that there will be an economic rebound. “Now there is a standstill, but past experience shows that it is temporary.” Read more

Ministry of Defense acquires $25 million-worth of ceramic armor, rifles, and scopes for IDF ground forces. Over 100,000 ceramic armor vests have been purchased, as well as M4 carbines weapons intended for reserve units located in border towns around the Gaza Strip and Israel’s northern border. Read more

Kfar Aza plastics company hoping to return to activity after murder of three team members by Hamas. Israeli plastics manufacturer Kafrit Industries said that Director Aviv Kotz, VP of Business Development, Nadav Goldstein, as well as company employee Dorit Bar-Ilan, were murdered by Hamas. Many relatives of employees were also murdered in the Hamas attack on Israel, and some of them had family members who were kidnapped. Read more

US weapon manufacturers expecting boost in sales from Israel. The U.S. will increase shipments of Iron Dome interceptor missiles and other weapons. Read more

Fintech startup Statement raises $12 million for multi-banking, global liquidity management platform. “We heard this week that ‘In unstable times you want to invest in the most resilient people’, and we hope that sharing this news instills optimism amongst our peers in the Israeli tech community and our people,” the company said. Read more

Gaza war could cost global economy $1 trillion. The expansion of the war between Israel and Hamas to multiple fronts, including Iran, could raise the price of oil from $90 to $150 per barrel, push inflation higher, and cut global GDP. Read more

Google pledges $8 million in grants to nonprofits “providing relief to civilians affected in Israel and Gaza.” “Our Jewish Googlers around the world are reeling from these attacks — which bring painful reminders of the worst moments in history — and are experiencing a rise in antisemitic incidents that call for increased security at synagogues and schools,” wrote Google CEO Sundar Pichai. Read more

Web Summit organizer apologizes, “deeply regretful” for hurting Israeli friends. “I understand that what I said, the timing of what I said, and the way it has been presented has caused profound hurt to many,” wrote Paddy Cosgrave after numerous speakers canceled their participation in his conference due to his previous remarks about Israel violating international law and committing war crimes. Read more

Dancing on our graves: Hamas’ war on Israel and the world’s moral confusion. As Israel and the Jewish community reel from Hamas’ attack last week, we must confront a world that first celebrates, then equivocates before paradoxically denying Hamas’ crimes. Read more

Fake news syndrome: Gaza war proves we no longer believe the news – even when it’s true. Even reliable information is no longer accepted as such and the truth is once again compromised on social networks, especially when suspicious and dubious sources spread it. Donald Trump Jr.’s tweet as a test case. Read more

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