February Edition 2023

32 2. Covid provided new opportunities for Israeli companies globally. Aside from the obvious rise in the Healthtech/Medtech, sector, there were two other sectors where Israeli companies dominated. With more of business and life going online, there was a greater need for cyber security and fintech (with related practices such as data privacy and protection). This saw sizable legal activity, outbound, such as investments, M&A, regulation and capital raising. 3. More Israeli law firms engaged in outbound work. Closely related to the second point, once clients are seeking global mandates and pursuing opportunities outbound, law firms representing them need to follow through. Thus, law firms who were previously domestic by nature (mostly mid-sized firms), found themselves referring work and collaborating with international law firms. Ascanbeseeninthe2022IsraelDesksinfographic,thereare160international law firms with an Israel focus: 100 firmshave a proclaimed desk/practice (and 617 lawyers are affiliated to those firms) and 60 firms unofficially have Israel capabilities. Nonetheless, all 160 firms have referral work and close relationships with Israeli firms and companies. 70% of those law firms are U.S. based, 20% UK-based, with the remainder spread around the world.