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What Makes Israel A Startup Success

10 February 2015  |  1628 views  |  0

Dynamite comes in small packages!

 The big technology companies may claim Silicon Valley as their de facto domicilium, but several thousand miles east of California’s tech heartland lies a booming tech enclave of epic proportions. Of course the epic proportions reference is a hyperbole of the highest order, since Israel is about the same size as New Jersey. It’s not only Tel Aviv that is peppered with technology companies; startups can be found across the country. From Haifa in the north, to Eilat in the south, and Jerusalem in the east – Israel is a hive of technological activity.

Going Long on Israeli High-Tech

In 2013, Israel’s high-tech sector accounted for 12.5% of GDP, but that figure was 14% for 2012. Percentages aside, the real numbers don't lie when it comes to the dollar-denominated value of Israel's tech exports. The growth of the tech industry in Israel is impressive: Between 2012 and 2013 Israeli tech exports increased by 13%, raking in $17.95 billion. And 2015 looks set to be a bumper year for several Israeli technology companies. Three particular companies are worth watching, including the following:

  • MyPermissions - Closely monitors your privacy settings on all social media sites and gives you complete control over what information apps can access.
  • Telesofia - Provides clarity of all medical-related information through digital multimedia and personalized doctor/patient videos.
  • AnyClip Media – Uses keywords, meta descriptions and meta data to provide viewers with all related video content based on what you are reading or watching.

Every year, scores of Israeli tech start-ups launch, but only a handful of them reach mega status like the aforementioned companies. A recent competition sponsored by Verizon in the US sought out companies that improve the lives of people. 12 prizes were awarded, and 3 of them went to Israeli start-ups. A $1 million prize was awarded to the Sesame Enable Smartphone device. The inventor of this device plans to use the funds for the purposes of a mass rollout. The Sesame Enable Smartphone is geared towards people who are unable to use their hands and feet, with conditions such as multiple sclerosis, spinal-cord injuries, Lou Gehrig's disease, quadriplegia, paraplegia and other debilitating conditions. The device allows you to surf the Internet, send messages, and even make phone calls by way of slight head movements. $250,000 prizes were awarded to 2 other Israeli start-ups - VoiceItt (with the TalkItt app) and HopOn (for bus passengers).

Top Reasons Why Israel Succeeds in Startups

Israel is a nation of inventors, thinkers and tech gurus. Technological innovation is an indelible part of Israeli culture. Since the market is so small, Israelis think beyond their own borders and look to the larger Western world to market their products. Anyone who is willing to work hard will find plenty of opportunity in the tech sector, since Israel's military is world-class, the economy is booming and many major high-tech companies have established operations in Israel. The industry is mature and there is plenty of growth potential for tech start-ups. Of course there are challenges like any other nation but the spirit of enterprise is alive and well in the Holy Land. 

 

What Makes Israel A Startup Success TagsStart ups

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