JERUSALEM (AP) ” Intel announced Monday it will spend more than $15 billion to acquire Mobileye, an Israeli company that develops technology that essentially gives computers a sense of their physical surroundings ” the largest high-tech acquisition in the history of the Jewish State.
Faced with limited natural resources, Israel has fostered a vibrant high-tech culture in recent decades. Mobileye joined a long list of high-tech companies that have earned Israel the nickname “Startup Nation.”
The country is a popular destination for global venture capital funds seeking to capitalize on Israel’s entrepreneurial spirit, as well as expertise honed in universities and advanced technology units of the Israeli military.
According to the World Economic Forum, of a total $373 billion in venture capital invested globally from 2006 to 2013, $13.1 billion was invested in Israeli companies ” one of the highest in the world and more than both India and Canada.
Read more: A look at some Israeli high-tech successes – Business – NZ Herald News
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