Israel's judicial proposals prompt startups to relocate -govt agency

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The government's plan to overhaul the judicial system is harming investor confidence and pushing high-tech firms to relocate abroad, Israel's state-backed agency that supports high-tech companies said on Monday. A survey by the Israel Innovation Authority found 80% of startups established so far this year were opened outside Israel and that companies also intend to register their future intellectual property overseas - which would result in a severe blow to Israel's tax coffers. Proposals by Prime Minister Benjamin Netanyahu's hard-right coalition to give the government greater say in the selection of judges while limiting the Supreme Court's power to strike down legislation have worried current and potential investors.
 
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