“Tech has a huge role in helping boost the economy forward”

“Obviously it’s a difficult time in Israel. I think part of what we're doing here today, our job in Tel Aviv as opposed to the people out on the front lines, is to help keep the economy going, help keep life going… support the war effort, and also just to get life back on track,” said Yonatan Sela, Partner at Square Peg.

The VC firm invests out of a $550 million fund with a large presence in Australia, Asia, and Israel, and operates globally. Sela was speaking at Tech TLV 2024 where companies and investors were gathering amid a tough time in Israel both economically and socially. As many soldiers brave the front lines in the army, the Israeli tech scene must do what it can to maintain its powerful presence in the country and around the world.

“Tech in Israel is not necessarily selling into the Israeli market, but rather selling mostly outside of Israel, the U.S., Europe, and other markets,” he continued. “And that's why I think tech has a huge role in helping boost the economy forward. Specifically, there's a lot of trends happening in the global economy in addition to the conflict in the Middle East which now extends beyond Israel.”

You can watch the entire exchange in the video above.