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Silicon Wadi: The 2nd Biggest Startup Area in The World

Silicon Wadi: The 2nd Biggest Startup Area in The World

For those who are unfamiliar with the term "Silicon Wadi", it refers to an area in Israel with a high concentration of high-tech companies. Local startups and large international organizations like Google, Facebook, Oracle and IBM all together form Silicon Wadi- an area which is located around Tel-Aviv.

Brief History:

There are two main factors that contributed to the growth of Israel tech environment, the first one is Israel friendliness to VC investments. Indeed, since 1993, the government implemented a program that offers tax incentives to foreign investors. This made Israel a prime location for venture capitalist investors. The second factor is the community-focused vibe that is part of the culture-  it enables people to work better in team and add value to projects.

As mentioned, Silicon Wadi is the motherland of some of the most innovative technologies. For instance, it is in Israel that the ICQ instant messaging program was built. This program which was acquired by AOL for 407 million dollars revolutionized communication over the internet. Today, Israel is home to big tech companies like Mobileye- the software that enables the drive-less function in Tesla cars, and GreenIQ - which built a smart garden system. It’s also the home to smaller startups like the application “Waze” or the messaging application “Viber”.

What’s Next?

In the e-commerce market space, there are two startups that deserve your eye in the near future: Wiser and Commerce Sciences.

Wiser is a pricing engine which offers the ability for e-commerce sites to change their prices every few minutes. This can be a powerful tool as it is easier for the retailers to match their competitors' changes in price. This application also allows merchants to make personalized offers directed towards specific customer segments.

Commerce Sciences also focuses on offering personalization features. It allows the merchants to personalizes the website pages for each visitor based on the customer segment. These are both great tools and advancements in the realm of online business.

UpClick is proud to be able to invest in this community through the sponsorship of the Tel-Aviv software meetup that will take place on June 7th-8th 2016.