Israel Tech Sector Faces Worker Shortage
According to a recent report by Start-Up Nation Central and Israel Innovation Authority, the number of tech workers in Israel grew to 280,000 in 2017 from 240,000 in 2013, but this is only 8 percent of the workforce which went down from nearly 10 percent in 2008.
It is said that this is surprising given that investment into the sector has soared, with VC funding going over $5 billion in 2017 and already at $6.5 billion this year. The number of multinationals operating development centers in Israel likewise increased to nearly 350 in 2016 from around 50 in 2000.
However, Start-up Nation Central head Eugene Kandel said that it looks like the current supply of tech workers is not enough to fuel the required growth of the country’s tech sector since it is obvious that companies are struggling to hire professionals, with some only finding them overseas.