Israel: a small place with big ideasOct. 17, 2013
A country where entrepreneurs and multinationals freely meet to share the latest in new ideas and innovation, Israel is paving the way ahead in groundbreaking research and technologies used around the world.
Israel’s land mass would fit into that of the United Kingdom approximately 11 times, but it is second only to the United States in terms of number of start-ups, according to figures in the Israel Advanced Technology Industries (IATI) 2012 annual review. The country is also leading the world in terms of per capita venture capital investment. Sectors which have been benefiting from Israeli innovation are extremely wide-ranging. They include health, life sciences, mobile, cloud technology, big data analytics, agricultural, water, cyber security and financial.
Karin Mayer Rubinstein, CEO at IATI, says: “Because Israel has such a small local market, Israeli start-ups began ‘going global’ from day one. This international orientation pushes Israeli firms to develop technology with a global appeal.
“IT was also a very convenient ‘product’ to export around the world. And, due to its security situation, keeping on the cutting edge of technology was a matter of necessity for Israel – and, as they say, necessity is the mother of invention.” Universities in Israel, says Rubinstein, have been “encouraging the application and commercialisation of innovation and technology developed in the laboratory” to the real world.
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