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Starting from Scratch

Kol Ha Ir Jerusalem’s most widely-read local newspaper, distributed together with Ha’aretz, Israel’s leading daily newspaper.

(Translated from Hebrew by Emmanuel Mréjen)
(January 7, 2000)

Golden Channels

The IsraelGold startup hasn’t started its activities yet, but the company is confident that its technology will propel Israel as a world leader in international finance.



Product:Virtual financial channel for investments over the Internet, called the IsraelGold investment.

Uses: Business activities via the Internet with technical and financial instruments (communication and financial channels) that are faster and more efficient that those offered by the existing virtual banks.

Human infrastructure: The company has eight workers: the founder and CEO David Teten (29), an R&D team of three people, and four sales and marketing managers (including one for the Dutch market and one for the French market). 20% of the company’s shares are owned by Teten, 40% by the workers, and 40% by private investors that were recruited by the investment fund (headed by Shlomo Kalish).

History: Teten immigrated to Israel from the United States in 1998. He moved to Israel out of Zionist convictions and never thought he would set up his company there. But in August 1999, an idea came to him. By October he had already raised $2.25 million through and had recruited his team. In December, the company rented its offices in Har Hozfim, and will start working in January.

Slogan: “Israel is about to become the world leader in finance through our investment channels” (David Teten, CEO).