Israeli start up nation

Israel Start-up Nation

Decoding the Israeli start up culture

Yakir Falik

February 2013Yakir@Fajoya.com

(C) Yakir Falik 2013

Who?(C) Yakir Falik 2013

• Yakir Falik

• MBA Brunel Business School London

• Co-founded 2 start-ups (1 ex)

• CEO @ Fajoya

Agenda

Israel – Facts and figures

VC Industry

Measurements

Eco system

Culture

What's in it for you

(C) Yakir Falik 2013

Established 1948

Population: 7.7 millions / 700%

Area: 22,000 km² / Finland 303,000 km²

Natural resources

GDP Per capita- $ 31,467 / Finland $ 36,700

Security challenges

(C) Yakir Falik 2013

Israel facts and figures

Israel VC Industry

70 Israeli and 220 international active VCFs (Tech)

2011, Israeli high-tech companies attracted $2.14billion (570 companies, 2011)

2011, Israel led the world in venture capital invested per capita, OECD 2011

Highest start-up/population ratio in the world

(C) Yakir Falik 2013

Success Measurements

Exits IPOs - Israel has more companies listed on the NASDAQ stock

exchange than any country.

M&A

$15 billion from investors, $37 billion received in M&A and IPO exits. (15% annual return).

50% of the world leading technology companies have R&D centres in Israel

(C) Yakir Falik 2013

MNE’s with R&D centres in Israel

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Supportive Government

Israel’s start-up ecosystem

Experienced Entrepreneurs

Corporate Spinoff/R&D

Research Institutions/Incubators

Vibrant VC Industry

Academic Institutions

Defence Technology Spill Over

Innovative Entrepreneuria

l Culture

Start-up Ecosystem

(C) Yakir Falik 2013

Compulsory army service

Uncertainty

Social skill

Leadership and management skills

Leading from behind

(C) Yakir Falik 2013

Israel entrepreneurial culture

Constructive failure

Supportive incorporation

liquidation legislation

Informal business culture

Power distance (Hofstede)

Chutzpah

Entrepreneurial culture – cont.

What’s in it for you?

Identify your Ecosystem Human capital

Capital

Concept formulaton

Failure is constructive

Develop an open culture

(C) Yakir Falik 2013

Thank you!

“I have not failed. I’ve just found 10,000 ways that won’t work.”- Thomas Edison