JERUSALEM, Dec. 24 (Xinhua) -- A total of 3,307 Israeli hi-tech startup companies were closed between 2012 and 2017, after raising a total of 3.79 billion U.S. dollars, Israel's IVC Research Center published Monday.
According to IVC's report, the average time between a company's last round of fund raising and its closing date was four years, while the average time of a company existence was 5.5 years.
According to the report, there are currently 8,360 active hi-tech companies in Israel, raising 4.43 billion dollars per year since 2013.
The report does not cover 2018, but estimates the closure of 550 companies this year.
Most of the companies closed were in the Internet sector with 1,228 of them raising only 469 million dollars. In the communications sector, however, only 828 companies were closed, but they raised about 800 million dollars in total.
In the life sciences field, 432 Israeli companies that raised about 808 million dollars were closed in the same period.
