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Israel : 65% of small start-up company might sink

Approximately 65% of small start-up israeli feel they do not have a strong enough to maintain their operations in the next six months due to the crisis of the Covid-19, highlights a survey published Sunday. This barometer conducted by the Authority, israeli Innovation, state agency funding, in particular the young shoots, and a consortium of industries of the tech paints a rather gloomy picture of the "start-up nation," a nickname that Israel, at the time of the pandemic.

The sector of high technologies account for 10% of employment in Israel. And the country's economy was running at full capacity with unemployment at 3.4% in February, before that the virus does not spread in the world, by a violent blow to the economy. Unemployment has since soared to 27%, a trend that has not spared the technology sector.

According to a survey of leaders of 414 (property: 414) companies in the sector, a little more than one-third of these companies in the biomedical technologies, software and telecommunications have put the staff on technical unemployment during the crisis of the new coronavirus that has infected more than 17,000 people and killed more than 280 people dead in Israel, a country of nine million inhabitants.

in Spite of the first measures of déconfinement, the morale of some start-up remains flat, with 65% of high-tech enterprises with between 1 to 10 employees feel they do not have sufficient resources "to maintain their operations beyond six months." "The results of this survey show that many technology companies at the first stage of their development face in filing for bankruptcy and do not receive enough assistance from the government", stressed Sunday Karin Mayer Rubinstein, the chair of the IATI (Israel Advanced Technology Industries).

This association of the enterprises of the sector is estimated as an envelope of emergency already approved 1.2 billion shekels ($312 million euros) for this branch "was not sufficient". Without new public investment, the sector of high technology (...) may collapse which plomberait the economy as a whole," said Ms. Rubinstein.

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