Haredi High-Tech Startups Show Surprising Growth and High Survival Rates
Since 2019, 53 startups founded by Haredi entrepreneurs have collectively raised $62.4 million, according to data from an acceleration program for Haredi innovators. Despite a recent economic slowdown in the Israeli high-tech sector, these startups demonstrated a 93% survival rate one year after completing the program, a significant improvement compared to previous studies that showed higher closure rates among Haredi-founded ventures.
Half of these companies have expanded internationally, reaching markets in the United States, Europe, and Japan. The data was revealed at a closing event where eight entrepreneurs showcased developments in artificial intelligence, digital health, fintech, e-commerce, and business software solutions. During the six-month program, the participating companies’ valuations increased by 162%, and five out of eight generated revenue before the program ended.
Hanan Brand, Deputy CEO of the Israel Innovation Authority, spoke at the event, emphasizing the need to integrate new communities, including the Haredi sector, into Israel’s tech industry. He highlighted that many workers view emerging technologies as growth drivers rather than threats, underscoring the importance of broadening the industry’s talent base.
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