Israeli VC's are raising lots of money...
IVC Research Center published their numbers for 2007, and it looks like $1.1 billion was raised, 21% more than in 2006. You can read the Globes (English) or TheMarker (Hebrew) articles on the subject.
Seems like a lot of money is available for early stage Israeli start-ups - NOT!
When you double click and realize where funds are designated, you will find that not much of that capital will be directed at early stage IT companies. Of the 10 groups mentioned, only Pitango and Tamir Fishman will invest in early stage IT. Other funds raising money in 2007 include 4 healthcare-related groups (Pontifax, 7Health, Agate, and SCP Vitalife) , 2 on Cleantech (Israel Cleantech and AquAgro, and one each for mid-tech (Wanaka) and mid-stage (Aviv).
Although the headline definitely sounds good for the entrepreneurs... Combine that with global economic concerns, etc., and the story gets more complicated.
My advice to entrepreneurs out there – now is the time to sharpen your pencil, review your budgets and make every $1 (weak as it may be) count. Reduce spending to what you REALLY need to move your business forward. Make sure your goals are properly defined and focus on meeting them. When things get tough out there, the world is much less forgiving.
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