Sarit Firon: "Our democracy, freedom, and the determined protection of individual freedoms are what make Israeli innovation possible"

"Just this week, the chief analyst responsible for Israel's credit rating at S&P estimated that the weakening of institutions and the judicial system endangers Israel’s credit rating. His words are a bright flashing warning sign, emphasizing to us how much the Israeli economy does not exist in a bubble. Our democracy, freedom, and the determined protection of individual freedoms are what make Israeli innovation possible.

“It’s innovation that makes Israel attractive to foreign funds and entities, gives economic strength to industry, and keeps companies here that any other country would be happy to have. As someone who leads capital raising and investments in Israeli companies that employ thousands of workers, I watch these developments with concern and believe that they will have serious consequences and not only those related to the credit rating. We may face the rejection of foreign funds and entities and the abandonment of talented Israeli entrepreneurs, who will choose to build their companies elsewhere and disconnect from the Israeli industry."

Sarit Firon is a Managing Partner at Team8 Capital.