Israeli tech leaders launch website to connect companies from Israel and the UAE

Leumitech, the technology banking arm of Israeli Bank Leumi, Tel Aviv-based team management and productivity unicorn Monday.com Labs Ltd. and Israel-headquartered venture capital firm Entrée Capital launched a new website titled "UAE-Israel Technology & Finance List" aimed at enabling "like-minded companies and organizations to start networking and build friendship, peace and understanding through the advancement of business."

The website includes a contact list of companies and a map showing where the different companies listed are located. As of the time of the publishing of the article, there are 107 Israeli companies listed and just seven from the UAE, six from Dubai and one from Abu Dhabi.

Dubai. Photo: Pixabay

"We have been working with several companies in the UAE over the past few years," said Avi Eyal, co-founder and managing partner of Entrée Capital. "With the Abraham Accords set to be signed, Entrée Capital decided it was time to tear down barriers and to allow people from the two countries to connect, and build relationships and opportunities together. I expect that we'll soon have partners from Dubai and Abu Dhabi joining us on the website."

A delegation of Israeli and U.S. officials is currently in Abu Dhabi, arriving on Monday afternoon on the first-ever direct commercial flight conducted by Israel's flag carrier to the Gulf state. The delegation is meeting with UAE officials to discuss the details of the historic peace deal between the two countries announced earlier in August.

"Partnerships with the UAE around technology are beginning to gather steam and the potential is huge," said Yifat Oron, CEO of Leumitech. "There is no doubt that we are at the beginning of a new era in which the Arab world is gaining access to Israeli tech, both as clients and investors. And of course, this is a very new and big target market for Israeli companies which until now was barely on their map."