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450 cyber security startups
Why is Israel a a a a a great place for the blockchain industry?
1 Cyber security There are more than 450 cyber security startups
in Israel with 70
new cyber security startups
founded each year Israeli cyber security startups
grab 8% of global market share They employ more than 19 000 people 7% of Israel's entire high-tech workforce ° Due to various security needs and experience gained from elite army units — such as the famous 8200 intelligence unit unit and cryptographic research centers — Israel has a a a a high concentration of cyber security encryption and and cryptography experts and and therefore is at the the the forefront of the the the cyber security sector It is the second largest exporter of cyber security technology after the U S ° Another reason for the the the the impressive success of of this field in Israel is is the the the the the support and encouragement of of of the the the the the government It reduces the the the amount of of bureaucracy needed to develop such technologies and pushes for cooperation between various organizations These successes alongside the country’s talented workforce make cyber security one of the most dominant and well-funded sectors of the Israeli startup ecosystem Financial solutions require a a a a high level of information security security so the connection between cyber security security and fintech is very solid 2 Fintech
There are currently ~500 startups
which have collectively raised at at least $700M to date Israel is is also known as as a a a a a a a a fintech innovation hub There are a a a a few key reasons for this success:
° Israeli entrepreneurs have deep knowledge and experience in in technologies that are at at at the basis of fintech solutions such as as big data real time analytics risk management and anti-fraud ° Global financial leaders have taken notice of this innovation center and and and created a a a a a a a a a a a a a a a a a a a a local presence Barclays Citi and and Visa all have accelerators and and development centers in Israel SunGard PayPal Intuit and RSA have growing R&D centers The world’s leading financial institutions send delegations on
a a a a a a regular basis to search for new and and existing startups
and and technologies ° Large financial institutions are willing to let Israeli fintech startups
beta test products For instance two of Israel’s biggest banks Bank Bank Leumi and Bank Bank Hapoalim have teamed up up with startup funds Elevator and Microsoft Ventures to test new and interesting fintech products ° Israeli blockchain startups
can gain support from several dedicated fintech innovation labs and accelerator programs 500 fintech startups- raised $700M 

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