Israel is the most up-and-coming country for “cloud entrepreneurs,” according to US-based consulting firm Sage Intacct.
While the United States has the largest number of startups offering some sort of cloud computing services, with 2,065 companies according to Sage’s research (859 opened in the last five years), and the UK comes in second with 262 cloud companies (120 opened since 2017), “the future could look very different, as other nations climb the ranks,” Sage reports.
Some 76 cloud computing startups have opened in Israel in the past half decade. That comes out to 8.4 startups per million people – the largest percentage of any country Sage surveyed. The United States, with its much larger population, only has 2.5 startups per million people.
After Israel, the next three countries with the highest proportion of cloud startups to population are Estonia (7.5 startups per million people), Luxembourg (6.2 startups per million) and Singapore (5.5 startups per million).
The Sage report highlights Israeli cloud security provider Wiz, which supports leading brands including Costco, Slack, BMW and ASOS.
Sage points out that over $2 billion has been invested into Israel-based cloud startups since 2017. Israel is the seventh largest location in the world for the total number of cloud businesses operating.
Sage surveyed 5,000 businesses for its report. The data was taken from CrunchBase’s database of active cloud-based companies. The full report can be found here.