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Find out how a small country, in a rough neighborhood, has produced some of the worlds’ tech wonders.
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Israel Start-up Nation
Decoding the Israeli start up culture
Yakir Falik
February [email protected]
(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
(C) Yakir Falik 2013
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
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