Israeli innovative startups struggle for growth amid inflation

STORY: Israeli innovative startups struggle for growth amid inflation DATELINE: Feb. 6, 2023 LENGTH: 0:02:13 LOCATION: Jerusalem CATEGORY: ECONOMY SHOTLIST: 1. various of Israel 2. SOUNDBITE 1 (English): JENNIFER SCHWARZ, Executive director of EcoMotion 3. SOUNDBITE 2 (English): EITAN KYIET, CEO of Road2 4. SOUNDBITE 3 (English): YARON GOLGHER, CEO and co-founder of I Know First STORYLINE: The year 2022 was harsh for innovative startups in Israel, as inflation hit its highest level in 20 years. According to the Israeli Central Bureau of Statistics, the annual inflation in Israel reached 5.3 percent in 2022, the highest since 2002. Bank of Israel, the country's central bank, has raised the base interest rate for seven consecutive times since April 2022 to curb inflation. The rise in interest rates made financing more difficult for young startups. SOUNDBITE 1 (English): JENNIFER SCHWARZ, Executive director of EcoMotion "When 2022 came around, with the war in Ukraine and the start of economic concerns glob