Winfried Kretschmann, the minister-president of the German state of Baden-Württemberg travelled to Israel with a delegation counting more than 80 members. He also met with Bosch in Tel Aviv. The aim of the meeting was to inform about the activities of Bosch in Israel and to exchange about the founder scene in the country. There are thousands of start-ups in Israel, most of them in Tel Aviv and its environs. Bosch recently stepped up its operations in the leading start-up metropolis, too:
“ Our research office focuses on identifying research activities and market trends as well as innovative start-ups at an early stage, ”
says David Abraham, head of the Bosch research and technology office in Tel Aviv. Interesting are fields such as machine learning (deep learning), robotics, cybersecurity, connectivity, and the internet of things (IoT). The recently established office also aims to work more closely with scientific institutions and universities.
Silicon Wadi: Bosch invests in Israeli start-ups
Robert Bosch Venture Capital GmbH (RBVC) also has an office in Tel Aviv. The company provides capital to start-ups from the technology sector, whether in the form of direct investment or indirectly via investment funds. Based in Stuttgart, RBVC has made 420 million euros available for start-ups. Currently, the Bosch Group’s venture capital subsidiary has investments in more than 30 companies worldwide, five of them Israeli start-ups. By investing in promising start-ups, RBVC gives Bosch early access to disruptive innovations. Through open innovation, it fosters collaboration between the company and start-ups.
Israel as an attractive market for Bosch Group
Israel is also an attractive market for Bosch’s products and services. Thanks not least to open trade and its innovative start-up scene, the market is developing dynamically. The country’s per capita gross domestic product (GDP) is among the highest in the region, and that its population is young, with an average age of 30. A strong middle class, high purchasing power, and a high level of education also play a role in Israel’s positive development. Bosch generated sales of more than 120 million euros in Israel in 2015* and also saw a healthy sales development in 2016, with prospects for further growth in the years ahead. The history of Bosch in Israel goes back several decades: The long-standing sales partner Ledico has been marketing the company’s products in the country since 1965.
* 2016 figures will be announced in May 2017.
