Climate tech ecosystem growing rapidly in Israel
Added on 13 December 2023
There are 784 Israeli companies developing technologies or products addressing climate challenges, according to the “Climate Technologies in Israel – 2023 Status Report” released by the Israel Innovation Authority and PLANETech, a joint initiative of the Israeli Innovation Institute and the Consensus Business Group of Vincent Cheng.
The report found that the number of climate-focused startups increased by 13 percent in the past year.
One out of every six startups established in 2022 is a climate tech company, while 14 cents of every dollar invested in Israeli high-tech is directed towards the climate sector.
In 2022, private market investments in Israeli climate companies amounted to $2.3 billion, 48% from foreign sources. Moreover, in 2022, Israel’s climate sector was 400% more resilient than other technologies in Israel, in a time of global economic crisis.
The climate-related companies established since 2003 can be categorized in the areas of crisis mitigation (reducing emissions, greenhouse gas elimination) or climate adaptation (adaptation in agriculture, extreme temperatures, water, infrastructure, and natural resource utilization).
Photo by Red Zeppelin on Unsplash
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