Delegates from both countries met for several days to collaborate on various high-tech topics amid new international ties; Dr. Margalit: This is not just a business opportunity, but a political opportunity for a new page between the Israeli hi-tech community and the entire Middle East.
Following the normalization of ties between Israel – the ‘startup nation’ – and the United Arab Emirates (UAE), several different partnerships were quickly underway. In fact, well before the official normalization of diplomatic ties, the two countries were consulting each other in different ways. One recent example that can be observed is how both countries shared resources to combat COVID-19 in the region. And immediately following the newfound agreement, they consulted each other via the online classroom where students from both countries practiced coding together.
In what is one of the most recent developments, a delegation of several Israeli individuals from the high-tech industry travelled to the UAE to meet with their counterparts for several days. The purpose of this meeting(s) was for the parties to collaborate in their respective fields and discuss new investment opportunities. Individuals that partook in the trip came from career fields such as food tech, cybersecurity, financial tech, and more.
The group was led by founder and chairman of Jerusalem Venture Partners (JVP), Dr. Erel Margalit, who said that the meetings taking place in the UAE were “to build cooperation between Israeli and Emirati high-tech, and deepen the newly found relationship between the two countries.”
As the leader of the trip, Dr. Margalit reportedly stated, “High-tech is the locomotive engine that leads the Israeli economy, so we have a key role in leading relations and cooperation with the Emirates, with an emphasis on partnership. I am proud to lead the first Israeli hi-tech delegation to the Emirates. Our companies have been in business contact with the Emirates for a number of years, and now an opportunity has arisen to expand this network of relationships, deepen the ties significantly, and allow more and more Israeli companies and entrepreneurs to be part of this connection and success.”
Dr. Margalit continued to explain the ramifications and significance of this trip when he concluded, saying, “This is not just a business opportunity, but a political opportunity for a new page between the Israeli hi-tech community and the entire Middle East. With us in the delegation, are the CEOs of emerging Israeli hi-tech companies from every field, and I am sure we will create real partnerships here that will contribute to building successful Israeli companies that will propel the Israeli economy forward, precisely during this period, and create more and more new jobs.”
There are reported to have been 13 different Israeli CEOs in attendance, and the group was invited by the Dubai International Financial Center (DIFC), which is one of the top 10 financial centers in the world, and “leading financial hub in the Middle East.” Meetings took place in both the capital city of Abu Dhabi, and Dubai.
Such trips are likely to only increase following the agreement between both countries to allow the other’s citizens to travel visa-free.