The war in Gaza has hurt the interconnected American-Israeli tech ecosystem, but there’s still opportunity for growth, say entrepreneurs and experts.

On the day of the October 7 terrorist attack, Sigal Gafni, an entrepreneur and resident of the southern Israeli town of Arad, was at the Association of the U.S. Army (AUSA) summit in D.C.

“When I returned to Israel, it was immediately clear to me that my business will now face a period where I won’t be able to work,” she said.

Gafni predicts that the war will impact all Israeli businesses exporting hi-tech services to the U.S.

Shock to the tech community – Israeli-American startups

A part of the U.S.-Israel tech ecosystem, Cornell Tech was launched in 2017 in cooperation with the Technion–Israel Institute of Technology, supported by more than $600 million in gifts from various donors. This massive land-grant institution spans 12 acres on Roosevelt Island in New York City.

“The events of October 7th shocked our tech community,” said Fernando Gómez-Baquero Ph.D., Director of Runway and Spinouts, an academic commercialization program. The initiative manages a portfolio of startups with investments from the Jacobs Technion Cornell Institute.

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