Technology is one of the biggest industries in Israel. In fact, it’s one of the main assets Israel has and a major one she provides to the world. Israel regards technology as the country’s number one export, and calls itself the “startup nation.” Now Tel Aviv is right up there, named to the number-two slot behind California’s Silicon Valley by Startup Genome. Corporate organizations, private investors and venture capitalists are realizing the potential benefits of these innovative Israeli startups, and are using them to enhance their products and spearhead technology.
The innovative markets in Israel include technology, health and medical services, biotechnology, and more. Any new technology you can think of, a startup in Israel is working on it, or with it. These new market ideas are well represented in the startups in Israel, and not only contribute to the larger Israeli market, but also contribute to markets around the world. Many investors prefer to outsource talent when investing in technology, which is why Israeli startups have become the subject of discussions in the news and social media. Israel is a Middle Eastern country occupied by only seven million people, but its positive impact on the world of technology continues to be felt. Startups play a huge role in the Israeli market and have been also linked to the future of innovation in Israel. You can see Bill Gates, the chairman of Microsoft, discussing innovation in Israel here.
Silicon Valley in the United States may not have found a tangible challenge in terms of IT and innovative technology, but the surge of Israel’s startups has given that valley something to think about. Young entrepreneurs in Israel are gaining traction in the highly competitive market by showcasing their talents and ingenuity. As international companies work with them, young minds in Israel are being praised for their ability to think outside the box. Multi-billion dollar companies bring them projects, and the creative minds in Israel already have new ideas for them. While outsourcing the creative talent of Israel to large, foreign corporations is good for the individuals, we must hope that they will also focus their attentions homeward, to the Israeli local market. While building a growing market may not present them with opportunities on the same scale as the established global market, they have more potential to execute real change and have pride in building their industry from the ground up.
Whether the minds of Israel continue working for multibillion companies and all they have to offer, or focus their intelligence on work and innovation closer to home, Israel should be hopeful. Not only for the future these energetic entrepreneurial minds present, but also for the future of the position these companies and minds hold in the world: one of the most influential business hubs in the world. Israeli startup companies greatly influence the high-tech world we live in today, and will continue to have an even larger effect in the future.