Initiated by Margalit Startup City Galilee, over 70 startups gather in war-hit region to meet with institutional investors and pave a path for return

Erel Margalit, Chairman of JVP and Margalit Startup City: “The high-tech visionaries in Galilee serve as the bridge to reintroducing stability and prosperity to the north”

UPPER GALILEE, Israel, February 20, 2024 – In a powerful display of unity and unwavering commitment to the revival of Israel’s northern region, more than 70 high-tech startups convened today in the war-hit Upper Galilee to pave a path for the eventual return to the north and a strengthening of the high-tech ecosystem there. Spearheaded by entrepreneur and investor Erel Margalit, Chairman and Founder of JVP and Margalit Startup City Galilee, the event signaled a pivotal moment in the region’s journey towards recovery and renewal.

The ongoing war, which commenced on October 7 and has resulted in the evacuation of vast swathes of the north’s population, threatens the continued existence of the high-tech community established in the Galilee. Recognizing this imminent danger, the event, held in Kibbutz Mahanaim, brought together key figures from Israel’s high-tech industry to provide assistance, explore investment opportunities, and express unwavering solidarity with the embattled startups of the region.

The gathering, which was also attended by major investors such as Iron Nation, Deloitte Catalyst, Intel Ignite and Invidia, underscored a unified commitment to empowering investments, providing immediate assistance to facilitate the resurgence of the Galilee.

The solidarity on display epitomized the high-tech community’s steadfast dedication to Galilee’s renaissance. This collective rallying cry for support and investment invigorates endeavors to rebuild and revitalize the region, reaffirming a resolute pledge to steer economic growth and innovation throughout 2024 and beyond, ensuring a fortified, vibrant future for Galilee.

Erel Margalit, Chairman of JVP and Margalit Startup City, said, “The high-tech visionaries in Galilee serve as the bridge to reintroducing stability and prosperity to the north. If Israel fails to make decisive choices regarding military engagements, such as those in Lebanon, it will likewise falter in its ability to orchestrate a return to order here in the north and bring our people back home. This endeavor is no less a victory than one achieved through military means. You, the entrepreneurs of this region, are the bridge to slowly begin to bring the return to the north.”

Professor Amir Yaron, Bank of Israel Governor, said, “I am pleased to take part in this important event in order to continue supporting the hi-tech industry as a driver of growth for the Israeli economy. Since the war, the hi-tech sector has faced a significant economic challenge, yet it once again proves its substantial contribution to economic prosperity. There is a national obligation to continue acting to restore economic activity in the southern and northern regions of the country. In particular, support for local startup initiatives is crucial as they constitute a vital component for the growth and prosperity of the region.”

Giora Zaltz, Chairman of the Upper Galilee Regional Council, said, “This conflict has unfolded in ways none could have predicted or planned. It persists, with residents evacuated for over four and a half months, its conclusion uncertain. The path to the conflict’s resolution will dictate residents’ return, as well as the north’s future trajectory. As I envision the future and the Zionist ideal, I assert that each of us must contribute, asking ‘where can I help, what more can I do?’ I pledge that within two years, we will not have merely 70 startups, but 170 thriving ones in our region.”

Dror Bin, CEO of the Innovation Authority, said, “Israeli high-tech cannot rely solely on the urban powerhouses of Tel Aviv and Jerusalem. The groundbreaking initiatives unfolding in Galilee are exceptional, and we stand ready to pledge our unwavering support every step of the way. The Israeli tech industry has always emerged stronger from crises, and even now, we are working hard to make it happen on the day after this war, in the Galilee and across Israel.”

Major General (Res.) Giora Inbar, said, “The government’s decision to evacuate residents from the north was a grave misstep. Throughout history, the demarcation of our borders has been consistently determined by the plow – a modern plow, you are. It is the civil society, the exceptional generation, that will provide us with national resilience far more effectively than the mere presence of tanks and planes.”

***

For media inquiries please contact Raoul Wootliff at raoul@number10strategies.com