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Israel’s cyber sector is still dominated by startups, despite “growing at a breakneck pace,” according to the folks over at the Defensive Cyber Operations & Intelligence Conference (DCOI). There are now 430 Israeli startup companies – an impressive number for such a small market – all vying for some hard Venture Capital cash. Despite the market saturation and the fierce competition, they are mostly doing quite well. “Seventy-eight cyber startups raised $540 million last year, a 20 percent increase over 2014,” according to the state-of-the-industry report released by the Israel Venture Capital Research Center.” Double-digit growth rates in both fundraising and exits last year give cause for optimism, particularly in the harsh financial market.
The DCOI does report on some cause for concern with the current state of affairs, as “the industry remains dominated by tiny startups without any sales or profits.” This issue has been remarked upon in the past. As the goal for many Israeli startups is still to be bought out by a large, foreign conglomerate, this leaves little room for a large ripe and local company to grow to maturation.
DCOI is held by the Israeli Institute for National Security Studies (INSS) in cooperation with the Israeli government, and several governmental agencies. “The goal of DCOI is to enhance collaboration between the United States and Israel in cybersecurity, and to produce better solutions and methodologies that will help prevent continued cyberattacks on corporations, financial institutions, critical infrastructure, civilians, and state and military targets,” according to the organisers.
Be part of DCOI 2016, May 18-19, 2016. Washington DC.
DCOI is Cyber-security Conference & Exhibition. It is an effort of the State of Israel, led by the Institute for National Security Studies (INSS) to showcase Israel as the Cyber-Nation, and present Israel’s best technological and creative skills, as well as the Israeli industry with some of the most innovative entrepreneurs in the world.