Over 30 startups return to Galilee as new recovery plan takes shape

A comprehensive development plan is taking shape to revitalize the Galilee region, aiming to establish it as a significant center for innovation, employment, and community development. Presented recently in New York to business leaders and American Jewish community figures, the strategy was hosted by Erel Margalit at Margalit Startup City in SoHo. The initiative focuses on building a robust economy in northern Israel capable of attracting companies, entrepreneurs, investment, and young families after years of war and disruption.

The plan, spearheaded by Margalit Startup City Galil, is a multi-faceted approach combining technology, research, academia, advanced agriculture, local business development, education, and culture. Erel Margalit, founder and executive chairman of Jerusalem Venture Partners, emphasized the need for "new growth engines" and high-quality jobs to encourage people to build their futures in the region, stating, "If we simply restore the Galilee to what it was before the war, we haven’t solved the problem."

This initiative builds upon earlier efforts that began over a decade ago, promoting an innovation-based economy connecting research institutions, universities, and industry in northern Israel. The war, however, placed significant pressure on this model, leading to evacuations, business closures, and the dispersal of entrepreneurs and students. Margalit Startup City Galil, in collaboration with the Israel Innovation Authority, MIGAL Galilee Research Institute, Tel-Hai University, and JNF-USA, worked to sustain the region's innovation ecosystem.

According to figures shared at the New York meeting, 32 startups have returned to the Galilee, with over 100 having operated there before the war. Companies supported by the center have created more than 50 jobs and secured approximately $3 million in grants from the Israel Innovation Authority. The center also facilitates connections between entrepreneurs and provides mentorship, operational support, and assistance with grants and investment.

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The day after begins now. If we simply restore the Galilee to what it was before the war, we haven’t solved the problem. We need to create new growth engines, high-quality jobs and opportunities that will encourage people to build their future in the region.