Israeli hi-tech start-ups are growing at a fast rate but they need help reaching global markets, Edgar Fulton, commercial counsellor at the United States Embassy in Tel Aviv, says.

'One thing driving relations between Israel and the US companies is that while Israel has been growing in leaps and bounds to come up with new technologies, its ability to take to global markets is not as strong as others,' he said.

There are at least 2,000 hi-tech ventures in Israel, and about 1,000 start-ups founded each year, Mr Fulton said.