Israel is a synonym for ‘startup nation’ and there are reports to suggest this adjective. Percentage-wise, Israel has one of the highest concentrations of startups in the world. What adds value to this percentage is the number of highly successful enterprises. Israel stands at the top, figuratively, when it comes to the number of successful entrepreneurs. Israel is a small country, with an area of around 21,000 sq km and a population of 8.5 million (less than half of Mumbai). Faced with multiple geopolitical, environment and geographic challenges, it has made enormous headway in establishing a world-class change and startup ecosystem, over the past few years.
Today, Israel has over 7,000 startups, over 350 VC Funds, and over 300 corporate R&D centers. There were over 100 startup exits, worth $23 billion in 2017. This was a big increase from $10 billion in 2016 – largely driven by the huge purchase of Mobileye (Computer Vision, Machine Learning Tech – for self-driving cars, other applications) by Intel for $15 billion, in August 2017. The Mobileye exit is a great case-study and success-story for Israeli startups. Historically, the U.S. has been the most prominent market for Israeli tech startups and companies. Today, Israel has the 3rd largest number of NASDAQ listed businesses (following U.S. and China).
What are the secrets behind this inspiring survey?
Microsoft, Google, Apple, Huawei, Sony, Intel, Siemens, and more than 250 other fortune 500 firms have either developed R&D Centers or H.R. Operations in the small nation.
This provides a proper opportunity for youngsters to find employment in dream companies. These dream companies provide the possibility of a vast range of experience where the Israeli youngsters enjoy successes working under the giants. Experience is the greatest teacher, and this is the first secret for the world to understand. Experiencing ‘work-life’ in Giant firms has provided Israeli youngsters a chance to find successes in entrepreneurship
The youngsters in Israel have always thanked Military Service for their business successes. Compulsory Service results in learning the subtle art of honesty, genuineness, and discipline. I might sound old school but genuineness, truth, and discipline are the most important components of success.
The training also teaches you to complete a mission. The reason many startups fail is that they give up too soon. The military service gives Israeli youngsters a chance to learn the art of never giving up. This is a very important lesson that entrepreneurs from around the world must learn. So how is never giving up defined? It means trusting yourself and your service/product. It is defined as a willingness to accept “failure” so you can learn the critical skill of adaptation. It means not negotiating on your most essential values, and hiking the walk, rather than just talking the talk.
Israeli Investment and innovation.
Israel is very particular about investments and innovation. From processing Sea Water and miraculously turning it into drinking water, to sorted government regulations on sustainability and growth, the Israeli Government has been fairly particular about their requirements from youngsters. When the government is clear, the youngsters find clarity. Government of Israel reflects confidence, and that’s what carries their youngsters forward. Confidence brings innovation and investment. Confidence builds trust. Coinsbit has been a pioneer in the same. It has provided Israel an opportunity to invest and initiate innovation through the introduction of a well-reformed process. The world, and Israel alike have this chance to lend, comprehend and fund their initiatives in the easiest way possible. This can revolutionalise how Venture Capitalism Works in the modern world, and Israel is the best playground for them. KNL will be listed on Coinsbit, a platform consisting of contributors, traders and farmers.
Because Israel loves innovation. This is another secret behind the “Startup Nation” tale of this beautiful Nation.
One of the features that sets Israeli businesses special is their sense of necessity to strengthen and grow in accelerated succession.
Owing to the country’s size, there isn’t much of a regional client base to speak of. Israelis have directed this as an opportunity by creating resolutions from the get-go with a world-level market in mind. Their startups are naturally built to be global players because this world mindset is part of their basic startup idea.
The vision with which Israelis cooperate and swap ideas and the creative intellect of the people is what’s powering its flourishing business ecosystem.