TechCrunch had the opportunity to speak with Chemi Peres, co-founder of Pitango Venture Capital, about Israel’s tech scene. In the above video, Peres explained why he believes digital health, drones and autonomous driving startups will emerge in the region.
“The digital wave is disrupting industry one after another,” said Peres. Israel has long been known for its work in cybersecurity, but he now expects to “see diversification in all areas, all sectors of technology.”
The son of former president and prime minister Shimon Peres, Chemi also has unique insight about how he believes the Israeli government can foster innovation. He hopes that by sponsoring incubators and providing grants, the state will continue to grow the startup economy.
“The Israeli government, first and foremost, supports innovation,” said Peres. He spoke of entrepreneurship programs sponsored by the Office of the Chief Scientist. And his father recently launched an Israeli Innovation Center to celebrate the country’s scientific and technological achievements.
A board member at Taboola and Via, Peres discussed his investment strategy. He looks for startups that can grow into big businesses, ones that can bring in at least $1 billion in sales annually.
Peres also told us that he is passionate about investing in Muslim-run startups because he not only sees opportunity in the large middle eastern market, but hopes that economic interdependence can help with the region’s peacemaking efforts.