Deal with UAE could be 'match made in heaven' for Israeli tech sector

Israel startups look to UAE venture capital money; tech supply deals expected.

CIO | Middle East > Joining hands / huddle / all hands in / teamwork / collaboration / partnership
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The push to normalize ties between Israel and the United Arab Emirates announced in August has spurred a flurry of speculation among Israeli's technology community about the potential for IT synergies and trade.

The UAE would become only the third country in the Arab world to establish full relations with Israel. To inaugurate formal normalization talks, El Al Airlines, Israel's national carrier, flew Israeli and U.S. officials on Monday directly from Tel Aviv to Abu Dhabi–a symbolic first that also included a maiden trip over Saudi airspace.

Though Israel has enjoyed normalized ties with Egypt and Jordan for decades, it didn't spur much technology cooperation. However, the fit between the UAE and Israel's economies is different, say Israeli business people.  

With the Arab world's second largest economy and the highest GDP per capita, companies in the UAE's financial, energy and tourism sectors may avail themselves of Israel's rich ecosystem of innovative financial technology, cybersecurity, digital health and agritech software makers. At the same time, Emirati venture investors may want a slice of ownership in promising startups founded by Israeli technology entrepreneurs.

UAE finances a match for Israeli tech center

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