UK Israel Tech Hub's partnership creating potential value of £800 mn
Tech partnership between UK and Israel helped to boost UK economy by potentially £800 million.
A world first tech partnership between the UK and Israel has been so successful that it has helped to boost the UK economy by potentially £800 million since it was launched in 2011.
The UK Israel Tech Hub, based in the British Embassy in Israel, connects businesses in both countries. It has enabled British companies to access Israel’s world-leading innovations, and at the same time has helped Israeli companies go global by partnering with UK firms.
So far the hub has led to 175 tech partnerships in deals worth £85 million according to a new report on its impact. The last year has seen more UK organizations using cutting-edge technologies in their business in areas including Artificial Intelligence, chatbots, blockchain and Internet of Things (IoT) and in projects such as smart cities and smart industries.