Deutsche Telekom: Israel and Germany are a good cultural fitMar. 27, 2014
Israel and Germany are a good cultural fit, says Guy Horowitz, the head of the German communications giant Deutsche Telekom's Israel venturing office, and that makes the two nations good business partners.
Horowitz had turned out for the "Axis Tel Aviv 2014" event to connect international investors and Israeli startups. After Silicon Valley in the US, Israel is the number two country in terms of innovation, venture capital investment and the number of startups, Horowitz says. His company, one of the biggest European telecommunication companies, has been doing business with Israel for more than 20 years.
The two partners learn from each other, Horowitz says. Germans learn implementation on the technology side and Israelis learn implementation of the project and delivery side, he says.
Israel has a lot of advantages for investors, according to Holger Wagner, senior investment manager of T-Venture, the venture arm of Deutsche Telekom. ”You find very well-educated people, and Israel has no market,” Wagner says. This means that entrepreneurs have to go abroad to launch their solutions on the market. ”In Israel they can’t because they have little trade with the countries around, so they need someone with whom they can realize a go-to-market based on partnership”, he explains.
Ed Frank, founder of Axis Innovation, cites the example of Deutsche Telekom CEO Timotheus Höttges, who said last month that he comes to Israel every quarter to see new technologies.
For the full YNet feature story click here.