Procurement Rebecca Smith · 9 November 2015
Boris Johnson aims to boost tech trade links between London and Israel
Boris Johnson wants to encourage more IsraelI firms to be based in London, and entrenchthe capital’s position as the leading European destination for IsraelI technology companies looking to expand overseas. The Mayor is on a three-day trade mission to Israel, and research from the Mayor’s promotional company London & Partners and IVC-Online found London is the number one city in Europe for IsraelI tech firms looking to list on the stock market. Businesses were reportedly won over by the easy access to capital and strong entrepreneurial culture. VC investment has been at record levels, reaching over $1.7bn since the beginning of the year already outpacing the $1.3bn raised during the whole of 2014. Tech companies made up over three quarters of all IsraelI firms listed on the LSE and over the past five years, they have raised over 240m through those listings. There are currently 16 IsraelI tech firms listed across LSE’s markets with a combined market value of 3.7bn. Nikhil Rathi, chief executive of the London Stock Exchange, said: London Stock Exchange is committed to ensuring ambitious, fast-growing businesses from around the world have access to equity capital. He added that Israel is world-renowned for its impressive record in nurturing technology startups and we believe London is the natural destination for these companies when they look to raise finance to grow on the international stage. In 2014, the LSE saw more firms from Israel list on its markets than any other country outside the UK, and RathI mentioned being particularly excited to see IsraelI company eToro join its business support programme, ELITE. The Mayor will attend several events across Tel Aviv, including to the Tel Aviv Stock Exchange and Google Campus in a bid to up trade links with London.
ABOUT THE EXPERTRebecca Smith
Rebecca is a reporter for Business Advice. Prior to this, she worked with a range of tech, advertising, media and digital clients at Propeller PR and did freelance work for The Telegraph.