Translation Nation: Israel’s translation software and services investment landscape
As the world is getting smaller as technological advances in communication and travel promote globalization – markets and people have become more accessible to one another. The chances of two people from different societies, cultures and countries meeting is pretty high, but the chances of them speaking the same language is not. As a leading startup ecosystem in the world, Israel is a hot destination for travelers in general and business travelers specifically. Moreover, Israel has a huge traveling culture. After completing their army service, Israelis traditionally take a year off to travel the world before starting school and work. Therefore, Israel has been a great source for language based apps, software and services. The Start-up Nation: a modern-day Tower of Babylon The number one most used translation service out there is Google Translate. Earlier this year, the international tech giant announced that it will provide a translation service for apps. Behind Google’s new service stand two Israeli companies, One Hour Translation and Tomedes. According to Reuters, One Hour Translation’s revenue is expected to double annually as businesses (the company already serves half of the Fortune 500) increasingly...
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