Israel is the Start-Up Nation
Silicon Wadi (Wadi means Valley in Arabic) is an area around Tel Aviv on the coast that has a cluster of high-tech industries built around the military, start-up and venture capital communities in Israel. As of 2019, there are over 6,500 start-ups in Israel, including thousands in Jerusalem, all focused on solving global problems and making a positive impact on the world. Israel is the premium-supermarket of technology and business value. The country of only 9 million people is an entrepreneurial mindset of talent in leadership, technology and its dedication to customer obsession globally.
Here are some incredible facts that will make you want to engage in Israel’s miraculous ecosystem:
- Highest concentration of engineers and PhDs per capita in the world.
- Highest Noble prize laureate per Capita- 12 winners of which six are in chemistry.
- Ranked 2nd by gross expenditures on R&D as a per cent of GDP.
- Ranks #10 worldwide in numbers of patents and #1 patient per Capita.
- 250+ global companies operate Centers in Israel with over 200 being acquired by foreign corporations.
- 3rd most innovative economy by the World Economic Forum.
- 2nd highest start-up zone outside of Silicon Valley.
- #1 in Venture Capital investment per GDP in the world.
- 3rd most significant source of companies on NASDAQ.
- Over $50 Billion in M&A exits in Israel since 2017.
- GDP of over $370 Billion, which is bigger than Portugal, Ireland, Singapore, and Denmark.
- Israel’s GDP Per Capita is over $41,000+, which is higher than Japan, Italy, and France.
These are just some of the highlights of Israel, and why it is such an incredible country full of opportunities. Israel’s winning formula is a combination of a unique willingness to fail culture, military service for all that allows for early exposure in leadership, a highly educated workforce, government support as the country invest 4.3% of its GDP in R&D which is the highest ratio in the world, and access to capital both locally and abroad. Tel Aviv is smart (people-centric), digital (driven by data acquisition), and connected, creating more potential interactions between people and their place.
Tel Aviv brings unique value to the fields of AI, machine learning, predictive analytics and cybersecurity among many others. These technological advantages facilitate industrial solutions that improve asset utilization, enhance cybersecurity and optimize supply chain operations. The solutions offered by the Israeli ecosystem address needs across the entire value chain, enabling a broad range of use cases for each industrial vertical.
International corporates are also opening local development and scouting operations in the country. Siemens, which opened an Innovation Lab in Tel-Aviv named Dynamo soon after GE’s similar move, is one example for the trend. BMW has also noticed the potential of this city. “Tel Aviv has one of the fastest growing start-up scenes in the world - especially in the important future fields for us such as autonomous driving or connectivity”, explained Klaus Fröhlich, Member of the Board of Management of BMW AG, Development. The BMW Group Technology Office in Tel Aviv is due to open in Israel’s technology hotspot midway through 2019.
In this vibrant hub with Johnson and Johnson, I am focusing on Supply Chain innovations end-to-end, finding at every visit new leading-edge technology that ensures a fantastic customer experience for all our stakeholders.
See you in Tel Aviv.