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News
Feldheim is one of a number of Israeli entrepreneurs who have gravitated to Singapore in recent years, where a thriving Israeli and Jewish community, working primarily in tech, finance and venture capital, has grown. While Israel and Singapore have long enjoyed good relations, commercial ties particularly in tech have grown exponentially in the last decade plus. Singapore has committed resources to investing in Israeli tech, both via national entities as well as via private VCs. Moreover, the country has implemented robust strategies to attract international talent, including from Israel
Before moving to Singapore in 2010, Feldheim was living in Switzerland with his family. “We wanted to be in Asia and we felt like this was the place to be for a soft landing,” says Feldheim. He describes the reception as uniquely accepting. “There’s no country that is happier to welcome Israelis. They love us here. As a state, it's super tolerant of different religions - you can’t say anything negative about other groups. And it's very international. You feel like a citizen of the world in this tiny city.”
Israeli ventures and entrepreneurs have increasingly recognized Singapore as a strategic hub not only for expanding into Asian markets, but for the ease of the Singaporean market itself. Singapore's robust infrastructure, business-friendly environment, and strategic location make it an attractive destination for Israeli companies. “Everything just works. This is one of the secrets to its success; the infrastructure is easy and everything is so accessible,” says Feldheim. “Singapore gave us everything.”
Islands of innovation
On the southernmost tip of the Malayan peninsula strategically situated between the Straits of Malacca and the South China Sea, surrounded by Malaysia and Indonesia, venerable giants in both landmass and population, sits the city-state and island nation of Singapore. At just 750 square kilometers in area (250 square miles), roughly a third the size of Israel, and home to over 6 million, Singapore’s survival, let alone its enormous success, was far from guaranteed.
“They built everything themselves - if they didn’t have a mountain, they built it,” says Yuval Passov, the Head of Google for Startups Israel, who lived in Singapore for four years with his family.
Following a history of British colonial rule, a brutal occupation by Japan during World War Two, and a brief, turbulent federation with Malaysia, Singapore gained independence in 1965. Since then, Israel and Singapore have shared close relations. “Singapore and Israel share similar economic interests, as small states with limited natural resources. Over the decades, we have built up a close relationship based on mutual trust and respect,” said Ambassador Mak in conversation with CTech. The ambassador, whose post began a year ago, is notably the first resident Singaporean ambassador to Israel.
Israel-Singapore relations were formed shortly after the latter gained independence in 1965. Feeling vulnerable to attack from Malaysia in particular, Singapore turned to Israel, another small state beset by enemies with a history of warfare and military victory for advice. A team of Israeli military advisors, who traveled incognito as Mexican agricultural advisers so as not to arouse the ire of Indonesia and Malaysia, were sent to help design and implement Singapore's nascent defense strategy. The resulting Singapore Armed Forces (SAF) were in part modeled after the IDF, including compulsory conscription, technological superiority, and a well-trained reserve force. Israel also supplied Singapore with weapons such as tanks and missiles.
In many ways, the two states mirror one another: both small countries in landmass and population, island states (in Singapore’s case literally as well as figuratively) surrounded by much larger, sometimes hostile, predominantly Muslim neighbors. Lee Kuan Yew, Singapore’s first prime minister and founding father, referred to Singapore as “Israel in a Malay-Muslim sea.” This shared sense of vulnerability has driven both nations to prioritize defense and economic resilience, spurring them to become international hubs for tech and innovation.
“Today, the impetus for technological cooperation is greater than ever, as we face an increasingly complex array of challenges, including in climate change, the digital revolution, and growing healthcare demands,” says Ambassador Mak.
new markets.
The efforts have borne fruit with several Israeli tech companies expanding their offices to Singapore including Checkpoint, SolarEdge and Similarweb, while more and more Israeli entrepreneurs have gravitated to Singapore to found their companies such as Feldheim’s Trax. Entrepreneurs who have built their companies in Singapore cite how comparatively simple it is to open a company, how much support is given by the state, particularly in fields such as cyber and fintech. “Establishing a business here is very easy - it's probably one of the easiest places in the world to do business,” says Passov.
A long-term investment
In addition to attracting Israeli talent and companies to Singapore, Singapore-based investment has also grown tremendously in Israeli tech. The Singapore Government has allocated over $20 billion over five years “to develop expertise and collaboration in areas such as artificial intelligence, quantum, health and biomedical sciences, food security, climate and sustainability, and advanced manufacturing,” according to Ambassador Mak.
Not only is it "very easy" to raise money, but there is also a lot of support for growth including government support to facilitate a second round and develop companies. In Israel, where most local VC’s cater to early-stage startups, this is particularly cogent. “There’s a lot of capital here and a lot of VCs, so it's very easy to invest here. It's a small pool of investors, but an ocean compared to the Israeli VC community,” says Passov.
While sources for investment are plenty in Singapore, there has also been growing Singapore-based investment directly in the Israeli tech ecosystem. “There is an understanding that Israel is a significant hub for core tech. Everyone views Israel as the number 2 geography for startups, innovation and tech,” says Gil Prashker, Director of Innov8 VC, the Israeli arm of the Singtel Group’s innovation wing. “Israel has more unicorns than in London, Paris, Berlin etc. For cyber and enterprise security we punch above our weight compared to the US - just like Singapore.”
News
"The most strategic country in the world": Singapore is doubling down on Israeli tech
Singapore has emerged as an extremely attractive market for Israeli entrepreneurs in recent years, as tech relations between the two nations grow. Ambassador Ian Mak tells CTech that "the impetus for technological cooperation is greater than ever," as the island state increases its investment in Israel's tech ecosystem, offering robust support to attract Israeli business and foster cross-border collaboration in areas like cybersecurity, AI, and fintech.
“I met Joel [Bar-El] at synagogue. We decided to start a company together and that’s how Trax was born - on the steps of Chabad in Singapore,” says Dror Feldheim, the COO of retail analytics unicorn Trax. Feldheim founded the company with Bar-El, who serves as chairman of the company, in 2010. Today, Trax remains headquartered in Singapore, with additional offices in the U.S. and Israel.Feldheim is one of a number of Israeli entrepreneurs who have gravitated to Singapore in recent years, where a thriving Israeli and Jewish community, working primarily in tech, finance and venture capital, has grown. While Israel and Singapore have long enjoyed good relations, commercial ties particularly in tech have grown exponentially in the last decade plus. Singapore has committed resources to investing in Israeli tech, both via national entities as well as via private VCs. Moreover, the country has implemented robust strategies to attract international talent, including from Israel
Before moving to Singapore in 2010, Feldheim was living in Switzerland with his family. “We wanted to be in Asia and we felt like this was the place to be for a soft landing,” says Feldheim. He describes the reception as uniquely accepting. “There’s no country that is happier to welcome Israelis. They love us here. As a state, it's super tolerant of different religions - you can’t say anything negative about other groups. And it's very international. You feel like a citizen of the world in this tiny city.”
Israeli ventures and entrepreneurs have increasingly recognized Singapore as a strategic hub not only for expanding into Asian markets, but for the ease of the Singaporean market itself. Singapore's robust infrastructure, business-friendly environment, and strategic location make it an attractive destination for Israeli companies. “Everything just works. This is one of the secrets to its success; the infrastructure is easy and everything is so accessible,” says Feldheim. “Singapore gave us everything.”
Islands of innovation
On the southernmost tip of the Malayan peninsula strategically situated between the Straits of Malacca and the South China Sea, surrounded by Malaysia and Indonesia, venerable giants in both landmass and population, sits the city-state and island nation of Singapore. At just 750 square kilometers in area (250 square miles), roughly a third the size of Israel, and home to over 6 million, Singapore’s survival, let alone its enormous success, was far from guaranteed.
“They built everything themselves - if they didn’t have a mountain, they built it,” says Yuval Passov, the Head of Google for Startups Israel, who lived in Singapore for four years with his family.
Following a history of British colonial rule, a brutal occupation by Japan during World War Two, and a brief, turbulent federation with Malaysia, Singapore gained independence in 1965. Since then, Israel and Singapore have shared close relations. “Singapore and Israel share similar economic interests, as small states with limited natural resources. Over the decades, we have built up a close relationship based on mutual trust and respect,” said Ambassador Mak in conversation with CTech. The ambassador, whose post began a year ago, is notably the first resident Singaporean ambassador to Israel.
Israel-Singapore relations were formed shortly after the latter gained independence in 1965. Feeling vulnerable to attack from Malaysia in particular, Singapore turned to Israel, another small state beset by enemies with a history of warfare and military victory for advice. A team of Israeli military advisors, who traveled incognito as Mexican agricultural advisers so as not to arouse the ire of Indonesia and Malaysia, were sent to help design and implement Singapore's nascent defense strategy. The resulting Singapore Armed Forces (SAF) were in part modeled after the IDF, including compulsory conscription, technological superiority, and a well-trained reserve force. Israel also supplied Singapore with weapons such as tanks and missiles.
In many ways, the two states mirror one another: both small countries in landmass and population, island states (in Singapore’s case literally as well as figuratively) surrounded by much larger, sometimes hostile, predominantly Muslim neighbors. Lee Kuan Yew, Singapore’s first prime minister and founding father, referred to Singapore as “Israel in a Malay-Muslim sea.” This shared sense of vulnerability has driven both nations to prioritize defense and economic resilience, spurring them to become international hubs for tech and innovation.
“Today, the impetus for technological cooperation is greater than ever, as we face an increasingly complex array of challenges, including in climate change, the digital revolution, and growing healthcare demands,” says Ambassador Mak.
new markets.
The efforts have borne fruit with several Israeli tech companies expanding their offices to Singapore including Checkpoint, SolarEdge and Similarweb, while more and more Israeli entrepreneurs have gravitated to Singapore to found their companies such as Feldheim’s Trax. Entrepreneurs who have built their companies in Singapore cite how comparatively simple it is to open a company, how much support is given by the state, particularly in fields such as cyber and fintech. “Establishing a business here is very easy - it's probably one of the easiest places in the world to do business,” says Passov.
A long-term investment
In addition to attracting Israeli talent and companies to Singapore, Singapore-based investment has also grown tremendously in Israeli tech. The Singapore Government has allocated over $20 billion over five years “to develop expertise and collaboration in areas such as artificial intelligence, quantum, health and biomedical sciences, food security, climate and sustainability, and advanced manufacturing,” according to Ambassador Mak.
Not only is it "very easy" to raise money, but there is also a lot of support for growth including government support to facilitate a second round and develop companies. In Israel, where most local VC’s cater to early-stage startups, this is particularly cogent. “There’s a lot of capital here and a lot of VCs, so it's very easy to invest here. It's a small pool of investors, but an ocean compared to the Israeli VC community,” says Passov.
While sources for investment are plenty in Singapore, there has also been growing Singapore-based investment directly in the Israeli tech ecosystem. “There is an understanding that Israel is a significant hub for core tech. Everyone views Israel as the number 2 geography for startups, innovation and tech,” says Gil Prashker, Director of Innov8 VC, the Israeli arm of the Singtel Group’s innovation wing. “Israel has more unicorns than in London, Paris, Berlin etc. For cyber and enterprise security we punch above our weight compared to the US - just like Singapore.”
