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Yigal Erlich – Cyber-boom or cyber-bubble? | The Economist |

August 1, 2015AlmaLinksMembers News, Tel Aviv ChapterNo Comments

ISRAEL’S arms exports fell last year. Cutbacks in the defence budgets of many Western countries pushed the global sales of Israeli weapons systems down to $5.7 billion, $1 billion less than in 2013. Unexpectedly, another security-related industry took up the slack. For the first time, the country sold more cyber-wares than arms. According to figures published recently by the cyber-task-force in the prime minister’s office, in 2014 Israeli companies sold around $6 billion of internet-security software, equivalent to about a tenth of the entire worldwide sales of such stuff.

Nevertheless, a few Israeli entrepreneurs worry that the cyber-startup boom may be turning into a bubble. “Every kid who leaves Unit 8200 [the Israeli forces’ electronic-intelligence operation] thinks he’s going to be a cyber-millionaire, and then some of the startups are immediately evaluated at $5m without having done anything,” grumbles an Israeli venture capitalist. “There is a bit of a bubble vibe” to what is happening, says Yigal Erlich, one of the pioneers of Israel’s venture-capital scene. “There could be a limit to this cyber-market. But on the other hand, for Israeli technology this is a perfect niche-market in which local companies can become world leaders.”

http://www.economist.com/news/business/21660112-internet-security-has-become-bigger-export-earner-arms-cyber-boom-or-cyber-bubble

 

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