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18-10-18
Israeli startups R&D spending jumps 6.5 percent
(MENAFN) Israel's startup firms witnessed a 6.5 percent surge in their overall spending on research and development (R&D) in 2016, compared to 2015.
The Central Bureau of Statistics revealed Israeli startup to have hit USD1.96 billion in their R&D expenditure.
The total R&D expenses amount seen in 2016 amounts for 13.6 percent within the business sector in Israel.
The R&D expenses jump was driven by the software industry which accounted for 51 percent of the raise, and the scientific R&D amounting for 39 percent.
The private sector contributed as much as 46.6 percent of the financing directed at Israeli start-ups in 2016, from 48.6 percent in the previous year.
MENAFN1810201800450000ID1097585346
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