Israel, a 60-year old nation with a population of 7.1 million, was able to reach such economic growth that “at the start of 2009, some 63 Israeli companies were listed on the NASDAQ, more than those of any other foreign country “says a report by the Wall Street Journal. Such economic dynamism occurred in the face of war, internal strife and rising animosity from other nations during that time. Israel soon rose to be the world’s techno nation, with everyone from Warren Buffet to Google, Cisco, Microsoft, Intel and eBay investing in the larger chunk of Israel start-ups.
Indians and Israelis have much in common in terms of demographics, a shared love for science and technology and an abundant population of engineering students graduating every year. What is strikingly different however, about the two nations, is the number of start-up successes.
Israel, despite having a significantly lower population than India, generates a much higher number of start-ups per capita than India.
According to The Start Up Ecosystem 2012 report compiled by the start up Genome Project, which made observations of start-up ecosystem in 141 countries and some 83,040 new ventures last year, Israel’s capital Tel Aviv was ranked second, whereas Bangalore was at 19 and the only Indian city that found a mention in that report.
“There is obviously a combination of elements such as good education, cultural background and efficient government intervention that set the entrepreneurial foundations in Israel but also a series of specific factors like needing to absorb a large amount of scientists and top class engineers from former Soviet Union in the 90’s that drove these results.” says Dr. Harry Yuklea from Technion University, Israel, in an interview with YouStory.in.
In response to the changing global business environment and the challenges it presents, icreate presents whatnext2013, a conference to identify the changing trends and how Indians can adapt to flourish its own booming start-up ecosystem set on the Israeli model.
And telling us exactly that would be Dr. Harry Yuklea (Technion University & icreate Advisory Board Member) with a session on “Leveraging technology for accelerating development of a nation – lessons from Israel & cues for India”.
If you haven’t registered for whatnext2013 yet, Register now!