Tech Industry's Impact on Palestinian Economy Amid Crisis

Published On Sun Jun 09 2024
Tech Industry's Impact on Palestinian Economy Amid Crisis

How global tech experts are supporting Palestinian start-ups and...

In the midst of the Israel-Gaza war, there has been a surge of support for Palestine from the tech industry, particularly for start-ups that have been impacted.

Support from the Bank of Palestine

An initiative supported by the Bank of Palestine is set to utilize over $2 million to aid 20 established Palestinian start-ups affected by the crisis.

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The tech industry's contribution of nearly $500 million to the Palestinian economy in 2021 has been significant, constituting close to 3% of the GDP in the occupied West Bank and Gaza, as per a report by the World Bank.

Impact of the War on Jobs and Education

Since the commencement of the war in October, nearly half a million jobs have been lost in Palestine, with a substantial number of those losses occurring in the Gaza Strip and the West Bank due to various reasons.

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Education programs, like those provided by Talent Acceleration Platform (TAP), have been severely impacted, but efforts are being made to assist those affected.

Initiatives to Support Palestinian Youths

One initiative, Palestine Future, aims to connect 1,000 Palestinian youths with professionals from global tech giants such as Google, Meta, Microsoft, LinkedIn, and Accenture for career coaching, mentorship, and job opportunities.

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Another notable initiative is Safe Palestine, an effort by the Bank of Palestine to raise funds for promising start-ups in Palestine's tech sector.

Global Tech Support and Initiatives

While support from the US tech sector for Palestine has been mixed, there have been efforts by individuals like Adil Abbuthalha, the creator of the app Boycat, which helps users identify pro-Palestinian products.

Tech for Palestine, a community founded by Paul Biggar, has been instrumental in supporting various projects aimed at helping Palestine.

Development of Fact-Checking Tools

Noteworthy projects like October 7 Fact Check and Newscord have been developed to combat misinformation and media bias related to the conflict.