The Massachusetts-Israel Economic Relationship, 2nd Edition Israeli Innovation and Entrepreneurship are a Major Driver of the Massachusetts Economy
An independent study by Stax Inc., a global strategic consulting and research firm, prepared for NEIBC, reveals that Israeli-founded businesses generate enormous jobs, revenue and capital activity in Massachusetts
Among the key findings of the study:
- Israeli-founded companies contributed $6 billion in direct revenue and over 6,600 jobs to the state’s economy in 2012
- The employment base of Israeli-founded businesses grew five times faster than the state’s economy between 2009 and 2012.
- Over 200 Israeli-founded businesses called Massachusetts home in 2012.
- Israeli-founded businesses represented 2.9% of the Massachusetts GDP in 2012.
- Israeli-founded businesses secured $700 million in venture capital from 2010-2012 across 73 deals, representing over 6% of all venture capital funds raised in the state.
- These businesses returned nearly $2 billion to investors in mergers and acquisitions from 2010-2012 across 14 deals.
- Israeli alumni of Massachusetts colleges started 30% of the Israeli-founded companies in the state.
Links about the study: