Every other new startup in Israel had closed or suspended operations prior to pandemic, says Central Bureau of Statistics
Between 2011-2019, 6,326 Israeli startups were founded, while 2,922 closed or ceased activity, showing a decrease of 5% in 2018 compared to 2011
Doron Brightman | 18:01 30.12.2020
Between 2011-2019, some 6,326 startups opened in Israel, while 2,922 of them (or some 46%) closed or suspended activity, according to figures published on Wednesday by the Israel Central Bureau of Statistics (CBS). During 2019, 4,658 startups were active in Israel. This is a 5% decline in figures compared to 2018, yet a 5% annual year-on-year increase from the national average in 2011. The number of open positions at startup companies in 2019 stood at 33,000, while the average wage was NIS 21,000 ($6,500), double the average monthly wage of employees in the general labor market. Some 63% of those startup companies were in the software category (for industry or business use, medical data, internet, telecommunications uses, cybersecurity, communications, ecommerce, and advertising). The highest monthly wage was in the field of semiconductors and stood at NIS 28,800 ($8,700). Some 73% of those startup companies, and 79% of those types of jobs were concentrated in the Tel Aviv area and the surrounding central region.