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Israel’s water technology market is showing signs of increase, and the Industry, Trade and Labor Ministry predicts that exports could increase 28% in 2007. This estimate comes after a 21% rise in 2006.
According to Jerusalem Post Israel, a world leader in developing water desalination and filtering technology, exported $850 million worth of water technology in 2006 to countries around the world, while 2007's exports are projected to reach $1.1 billion.
In addition, the Jerusalem Post reports that a survey commissioned by the ministry showed that the world market for water technology, valued at $410 billion, is growing year by year and is expected to be a $600 billion annual market by 2015.
Due to growing water demands and shrinking resources, new technologies are needed to increase the supply. Therefore, the Israeli government decided in 2006 to invest heavily in the development of the water technology industry and allocated NIS 120m ($US 238,540.75) through 2008 in the state budget to go towards the cause.
Currently, 270 water technology companies are operating in Israel employing 8,000 workers. 70 of the companies are start-ups established with the help of the Chief Scientist's Research & Development programs.
Mekorot, Israel's national water corporation, has also established a technology support unit, WaTech, to aid the expansion of Mekorot's water technology solutions to help Israeli water-related start-ups get access to the world water market and assistance with strategic partnerships and capital.
Jerusalem Post reports that Israel ranks among the world leaders in four different areas within the water industry; the erection of desalination plants, watering systems, treated waste water reclamation and management and supervision of water resources.