Can Jerusalem's hi-tech sector be an economic growth engine for the city?

For the growth of the hi-tech industry to influence the urban economy, the development of quality local human capital must be pursued in the city, as well as the integration of Arabs and haredim.

By YAMIT NAFTALI
August 1, 2018 17:37
2 minute read.
Distribution of Employees According To Place of Residence, 2017

Distribution of Employees According To Place of Residence, 2017. (photo credit: JERUSALEM INSTITUTE FOR POLICY RESEARCH)

 
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Recent years have seen growth in the Jerusalem hi-tech industry, including in the biotech sector in the city. Between 2013 and 2017, the number of companies increased by 52%. According to the IVC, the Israeli High-Tech and Venture Capital Database, today there are about 500 hi-tech companies in Jerusalem, of which 29% are biotech companies; the number of employees is approximately 15,000.

Some of the growth in the industry is related to the efforts of the Jerusalem Development Authority and the Jerusalem Affairs Ministry in the framework of the Marom and HaYovel programs, which are designed to encourage economic growth in the city. One of the growth engines identified by The Jerusalem Institute for Policy Research is the biotech industry. Jerusalem has a relative advantage here, and about 10% of Israel’s biotech companies are located in the city, which is also home to major hospitals and one of the world’s best universities, all of which constitute fertile ground for the development of a cluster of biotech companies in Jerusalem.

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