The unimaginable achievements of UK-Israel bilateral ties
The numbers communicate for themselves. In 2024, the primary ever authorities funded UK-Israel bilateral analysis name for proposals was printed with funding of NIS 9 million (£1.8 million) for joint UK-Israeli analysis tasks in food-tech, quantum applied sciences, and synthetic intelligence (AI) in drug discovery.
Enterprise ties are equally sturdy. Per capita, Israel ranked among the many high ten international locations for overseas direct funding tasks within the UK in 2023-2024 amongst European international locations, with 19 Israeli corporations increasing or establishing operations within the UK, creating 532 new jobs. Over the previous 5 years, greater than 400 Israeli corporations have arrange or expanded their operations within the UK, creating roughly 4,000 new jobs and over £906 million price of funding.
Take Optibus, for instance, a number one Israeli firm, which just lately celebrated its 10-year anniversary within the UK. Optibus leverages AI to boost sustainable, environment friendly, and accessible public transportation networks, powering 70% of public buses within the UK.
Or Nofar Power. In November, the renewable power firm accomplished a big monetary closing with a consortium of main worldwide and Israeli banks, together with Financial institution Hapoalim and Financial institution Leumi, totaling roughly £152 million for the Cellarhead challenge, one of many largest power storage tasks within the UK, with a capability of roughly 624 MWh.
The UK-Israel Tech Hub was established in 2011 to strengthen and lift the profile of UK-Israel bilateral tech partnerships. Fondly known as “the hub,” in 2023-2024 alone they facilitated 80 strategic companions and secured over 1,000,000 in R&D funding for health-tech research.
In March 2024, six Israeli health-tech corporations have been chosen to pilot their applied sciences within the UK, as a part of a partnership between The Northern Well being Science Alliance and Israeli Innovation Authority. In November, we launched The Dangoor Well being-Tech Academy, a first-of-its-kind academy to attach Israeli startups with the UK Healthcare sector. The 9 startups chosen are advancing healthcare options utilising AI in diagnostics, consuming issues, psychological well being, Femtech, neuroscience, personalised therapies, and vitamin.
The UK healthcare market, a worldwide powerhouse, is more and more open to modern options. This makes it a really perfect associate for Israel’s vibrant startup scene, famend for its groundbreaking applied sciences.
Israeli corporations have sturdy credentials within the cybersecurity and fintech fields. Final 12 months, Barclays financial institution introduced their official funding in Velotix, an AI-Powered Knowledge Safety Platform. The hub was a pivotal in securing partnership, driving the introduction and engagement that made it attainable.
These milestones are testomony to Israel’s tech sector’s relationship with the UK that has grown steadily over the previous decade. Israeli corporations and funds have invested over £3 billion into the UK financial system, producing an estimated £1 billion in Gross Worth Added (GVA) in over a decade.
Holding Eistein’s Nobel Prize in my hand, I felt the ability of science, each for the analysis that improves our lives, but in addition the connections it creates between peoples. Past the financial and social influence, partnerships like those I’ve described spotlight the significance of science, know-how, and commerce diplomacy. Innovation is not only about financial progress; it is about connecting individuals, corporations, and ecosystems and finally constructing sturdy bonds between nations.
By means of science, know-how and commerce, we’re constructing a future the place each nations thrive collectively, regardless of the challenges, with innovation main the way in which. Our doorways are open for Israeli entrepreneurs and innovators who search to increase globally, and we are going to proceed to spend money on alternatives that strengthen this important relationship.
The author is deputy ambassador on the British Embassy in Israel.
