A few of the biggest names in Israel’s thriving tech industry are trading the office for the battlefield.
Following Hamas’ attack over the weekend, Israel has called on 300,000 reservists to join its war effort. That features tech staff, who account for 10% of the Israeli workforce, per Bloomberg.
Tel Aviv was ranked No. 5 for the best global tech ecosystem in 2023, per The Global Startup Ecosystem Report. The industry’s economic impact is valued at $235 billion.
The tech leaders leaving their startups are reportedly ready for duty.
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“I would like to be a part of the people who find themselves protecting our country,” Itamar Friedman, co-founder and CEO of Israeli artificial intelligence startup CodiumAI, told The Wall Street Journal.
Friedman, who reported for reservist duty, raised $11 million for CodiumAI earlier this yr with the help of OpenAI and other investors. He told employees to prepare to work without him for the foreseeable future, according to the outlet.
Shmuel Chafets, co-founder and chairman of the enterprise capital firm Goal Global (one in every of Israel’s largest, overseeing $3.2 billion in funds), volunteered to join the Israeli army and was deployed to the Gaza Strip.
“We’re seeing tons of of 1000’s of individuals getting out of their lives, stepping into uniform,” he told Bloomberg TV. “People have been rushing into military service.”
Goal Global Founder Schmuel Chafets explains why he’s volunteering for deployment as Israel calls up 300,000 reserve soldiers https://t.co/AaMCGV4F51 pic.twitter.com/VoMg2tP0EF
— Bloomberg TV (@BloombergTV) October 9, 2023
Global corporations are also reporting a drop in Israeli staffers.
Cybersecurity firm Armis, which is predicated in San Francisco, lost about 15% of its Israeli workforce to the draft. “The expectation is that can go up,” said Nadir Izrael, the company’s chief technology officer, per Bloomberg.