A Ground for Technology Creation

Israel represents the second most intensive high-tech concentration in the world after California. The country has a technologically advanced market economy and it has been targeting high-technology niches in international markets such as medical scanning equipment.

Today, Israel is in the midst of an important and promising period in the fields of high-tech industry and information technology. Within just a few years , Israel's technological industry has penetrated world markets and has become a research and development center eyed by firms dealing in high-tech products and software for communications, medicine, and engineering around the world. The thousands of university graduates who immigrated from the former Soviet Union during the 1990s were among the prime catalysts that propelled this industry to today's level.

Since then, Israel has been considered one of the best hopes in the high-tech industry, allowing the country entrance into the circle of the industrialized countries . ^[3]

With 100 companies having equities negotiated on the U.S. financial markets ” NYSE, Nasdaq, and AMEX ” Israel comes just after Canada in terms of its foreign presence on Wall Street. ^[4] In Israel, approximately 100,000 people work in the high-tech industry, one-third of them being highly paid, while in the rest of the economy the wages are stagnant.

The high-tech industry has been one of the most important engines of Israel's economic growth during the past 10 years.