Why Israel is a Startup NationJun. 21, 2013
Some call it a miracle. Others an enigma of the culture. But the statistics surrounding the amount of high-tech startups that are conceived in Israel is astounding. A small country, with roughly 7.6 million people, has approximately 4,800 startup companies and attracts far more venture capital per person than any other country in the world. Dubbed as The Startup Nation, Israel outweighs the United States in venture capital investment per person, totaling $170 per person compared to $70 per person in the US. Not too bad for a country that was established 65 years ago.
Some examples of well-known startup companies that have originated in Israel include Waze, a mapping company that was recently acquired by Google; iOnRoad, a mobile app that warns drivers when they are getting too close to the car in front of them; and Conduit, a community toolbar that has received international attention.
A country that breeds one of the most concentrated centers of innovation also houses large, established companies like Teva, a drugmaker listed on NASDAQ with a market capitalization of $43 billion and Check Point, founded by an army intelligence group, that is now valued at $11 billion.
So what makes Israel a base to nurture the creativity, innovation, and risk that comes with starting a company? Uriel Peled gives some answers in a Tech In Asia article.
For the full article click here.