Isra-Tech | april 2023

T he looming climate crisis has made countries and its leaders realise that solutions for this must be quick, cost- effective and universal. Israel has emerged as a global hub for developing Climatech, a new category of tech solutions to address the challenges of climate change. In the last 10 years, the number of startups working in the area of Climatech is steadily increasing. In 2013 , there were around 13 startups working in the field of Climatech. In 2021 , there were 324 active high-tech companies, and around 30 acquired/merge companies. The Climatech sector also provides lots of employment. Of the 159 active tech companies surveyed, they provided employment to around 5 , 177 people who did highly skilled jobs. The startups in the Climatech sector are also raising capital to bolster the economy. Till date, the Climatech sector has raised around $ 146 . 85 million. But this sector is also volatile and sees many exits too. The value of exits in 2022 were around $ 373 . 23 million. However, this sector continues to see rapid growth and many Israel-based startups are collaboratingwith world capitals to share their technology. Climatech and its Economic Impact Besides providing green solutions, Climatech is providing jobs and raising capital The data is provided by IVC-Online www.ivc-online.com 40 Climate Tech Isra-Tech Israeli Technologies Magazine April 2023 Data Industry