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Multinational Companies (MNC) – Contribution to the Israeli Tech Ecosystem

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Multinational Companies (MNC) – Contribution to the Israeli Tech Ecosystem Multinational Companies (MNC) – Contribution to the Israeli Tech Ecosystem December 2019 Overview • This report relates to the activity of Multinational Technology Companies (MNCs) in Israel. • MNC refers to a foreign corporation that controls the R&D or owns a high-tech company in Israel (some entities such as Intel and HP have in addition to R&D large manufacturing facilities in Israel). • With the growth of M&A activity in the last two decades, the presence of MNCs is an integral part and a major contributor to the Israeli tech ecosystem. • In addition, dozens of Israeli-based companies (both public companies and growth stage start-ups) have become multinational, operating foreign R&D centers overseas, in addition to the local centers. • The pace of newly established MNCs in Israel decreased dramatically in 2017 while the number of tech M&As did not change significantly, correlated to the trend of new IT based MNCs. • However, 2018 and 2019 again presented an uptrend in new MNCs. Overview in Numbers • 362 active multinationals in Israel in 2019. • 132 IT & Enterprise Software active MNCs – the leading sector with the highest number of MNCs. • Leading Clusters: Machine Vision, IoT and Cyber Security. • Approx. 62,000 employees are employed by MNCs in Israel. • Leading cities in Israel with MNC presence: Tel-Aviv, Herzliya, Petach Tikva. • Based on the assumptions in this report, the estimated MNC tax payment account for 18% of the direct tax income in 2019. • Intel is the most active corporation in Israel (2014–2019): Intel Capital participated in 52 investment deals; Intel corp. acquired 5 companies totaling $17.5B. • Most active corporate buyers of Israeli companies in the last 5 years are Google (10, including 4 acqui-hires) and Microsoft (8). • Foreign corporate investments in 2019 reached $983m in 196 deals. Number of MNCs Established by Year: 2010–2019 No. of Active MNC's No. of Established MNC's No. of Closed MNC's 400 • Number of active MNCs in Israel in 356 353 353 362 2019: 362. 350 335 301 300 268 • The last decade was significant for 241 250 250 220 multinational corporation activity 200 in Israel. 150 • The growth rate of new MNCs in 100 44 Israel slowed dramatically in 2017- 50 30 32 39 40 28 24 19 1818 19 2018 but has recovered in 2019. 9 9 15 14 6 10 1417 6 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: IVC-GKH-IATI Multinationals Report, December 2019 * Data for 2019 is not final and is subject to changes in the coming months as more information becomes available. Leading MNCs by Sector: 2010-2019 2019 1 3 (4%) (13%) • The growth of new MNCs in 2014–2016 was led by companies in the IT & Software and 4 Communication sectors. (17%) 3 • The difference in the growth rate between 2014–2016 and 2017–2019 is the aggregate number of (13%) new MNCs in these sectors. • The number of new IT-based MNCs more than doubled in 2019, compared to 2017-2018. 40 11 (48%) 35 3 (8%) 30 3 (8%) 1 (3%) 2 (6%) 25 12 (32%) 1 (4%) 20 1 (5%) 2 (7%) 19(54%) 4 (17%) (5%) 2 (7%) 3 4 (18%) 1 (6%) 15 3 (15%) 7(19%) 3 (17%) 11(41%) 11(48%) 1 (7%) 3 (23%) 10 6 (30%) 10(45%) 5 (28%) 5 (45%) 4 (29%) 2 (6%) 1 (8%) (10%) 2 (7%) (27%) 5 2 (14%) 1 (5%) 2 10 6 (46%) 4 (22%) 3 (13%) (20%) 6 (55%) 7 4 (29%) 5 (25%) (18%) 4 (15%) 4 (15%) 3 (17%) 3 (13%) 0 2 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Communications Internet IT & Enterprise Software Life Sciences Semiconductors Source: IVC-GKH-IATI Multinationals Report, December 2019 * Data for 2019 is not final and is subject to change in the coming months as more information becomes available. Notable MNCs - Established & Ceased in recent years 51 Multinational Corporations opened new R&D activity in Israel between 2017 and 2019; 41 MNCs ceased to operate in Israel in the same period. New MNCs Ceased MNCs Source: IVC-GKH-IATI Multinationals Report, December 2019 Top Clusters in Active MNCs in Israel – 2019 The three top technology clusters in MNCs in Israel are: Machine Vision, IoT and Cyber Security. 115 companies, 32% of all MNCs active in Israel, develop technologies in at least one of the three clusters mentioned. 5G DevOps RetailTech Digital Health SaaS Automotive FinTech Artificial Intelligence Cyber Security Machine Vision Source: IVC-GKH-IATI Multinationals Report, December 2019 0 10 20 30 40 50 60 Top Clusters of Newly Established MNCs – 2014–2019* 1 1 2019 2 2 1 4 4 2 4 5 7 3 3 6 1 1 6 2 4 1 1 2 3 3 3 1 3 1 5 2 1 1 4 2 2 2 1 1 2 2 3 2 1 3 Source: IVC-GKH-IATI Multinationals Report, December 2019 5 7 2 4 1 3 2 1 2 2 1 1 3 1 1 6 3 2 5 1 4 4 1 2 2014 2015 2016 2017 2018 2019 Artificial Intelligence Automotive Big Data Cloud Cyber Security FinTech Internet of Things Machine Learning Machine Vision RetailTech Digital Health * Data for 2019 is not final and is subject to changes in the coming months as more information becomes available. Number of Employees in Active MNCs in Israel – 2019 • Most MNCs in Israel employ between 10 and 50 employees and serve as R&D centers for the parent company abroad. • The largest number of employees is in a manufacturing facility (Intel Fab in Kiryat-Gat) and not an R&D center. Interestingly, no other High-Tech facility in Israel comes close to this scale, other than the Intel R&D center. 151 61 55 39 24 21 10 1 1. Less than 10 2. Between 10 and 50 3. Between 50 and 100 4. Between 100 and 5. Between 200 and 6. Between 400 and 7. Between 1000 and 8. 5000 or More 200 400 1000 5000 Source: IVC-GKH-IATI Multinationals Report, December 2019 Number of Active MNCs in Israel by Location – 2019 Other 31 Carmiel 3 Migdal Haemek 3 Yoqneam 3 Caesarea 12 Tirat Carmel 3 Haifa 13 Netanya 13 Kfar Saba 11 Raanana 16 Herzliya 37 • Most MNCs in Israel are in the central region of Israel: Tel Aviv, Herzliya, and Ramat Gan 14 Petach Tikva. Givatayim 3 Tel Aviv 96 Holon 4 • Of the 362 active MNCs operating in Israel in 2019, more than 44% have Rosh Haayin 10 Rehovot 10 branches located in central Israel: Tel Aviv, Herzliya and Petah Tikva. Petach Tikva 25 Jerusalem 7 Hod Hasharon 8 • However in terms of number of employees, Kiryat Gat in southern Israel, Bnei Brak 5 with its Intel and HP manufacturing facilities, is a much more significant Beer Sheva 4 Or Yehuda 5 location. Lod 7 Airport City 4 Ness Ziona 4 Yavne 4 Source: IVC-GKH-IATI Multinationals Report, December 2019 Selected Active MNCs in Israel by Location Caesarea Haifa Netanya Yoqneam Herzliya Raanana Tel Aviv \ Ramat-Gan\ Bnei Brak \ Kfar Saba Petach Tikva \ Yehud Rehovot / Ness Ziona Jerusalem Kiryat Gat Beer Sheva Source: IVC-GKH-IATI Multinationals Report, December 2019 MNC Tax Payment Estimates: 18% of direct tax income $8.85B $48B $7.125M Israeli based MNCs are This amount is equivalent to The median tax payment about to pay nearly $8.85 approximately 2.6% of Israel’s per MNC is expected to billion in 2019* estimated GDP for 2019 (in be $7.125m in 2019. fixed prices, assuming 3.1% GDP growth this year), and 18% of the total income from direct tax, which is expected to be $48 billion this year. * This estimation is based on tax payment of $142,500 per employee, see Appendix on page 23 for details. Number of MNCs by Country of Parent Company The majority of MNCs in Israel are U.S. based corporations, accounting for 63% of the 362 companies. The decrease in the number of new MNCs during 2017–2018 is geographically related to US corporate activity in Israel. 250 229 200 150 100 24 50 17 12 10 9 8 7 4 6 5 4 3 3 3 3 3 3 1 1 1 1 1 1 1 1 1 0 Source: IVC-GKH-IATI Multinationals Report, December 2019 Newly Established MNCs by Country of Parent Company The presence of US tech companies was trending historically around 50% of newly established MNCs per year. While there was a noticeable German presence in 2016 and Chinese presence during 2017, currently there is no other country with any significant 40 presence other than US, yet. United States United Kingdom 35 The Netherlands Taiwan 30 Switzerland Sweden 23 25 21 Spain Singapore 20 Russia 20 12 Panama 15 Luxembourg 1 3 1 Japan 1 13 1 1 1 10 1 7 1 Ireland 2 1 1 1 India 1 2 2 1 1 5 2 5 1 1 2 Hong Kong 1 2 1 1 1 1 1 Germany 1 2 1 3 1 2 0 1 1 1 1 1 France 2014 2015 2016 2017 2018 2019 Source: IVC-GKH-IATI Multinationals Report, December 2019 * Data for 2019 is not final and is subject to changes in the coming months as more information becomes available. MNC Corporate VC Investments*: 2014–2019 # of investment Most Active Foreign Corporations in 2014-2019 deals Intel 52 Samsung 36 Qualcomm 28 EMC* 26 Cisco 22 Mitsui & Co. 21 • The most active foreign corporate investors in Israeli tech companies are somewhat correlated with the scale of activity of the large MNCs.
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