The country is only sixty years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources—produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada, and the UK.”
Israel, a startup country, where Innovations like, Google Suggest, the capsule endoscopy, a miniature camera embedded in a pill so that 18 photos per second can be wirelessly and painlessly transmitted from gastrointestinal tracts, the USB flash drive, the first Intel PC processor and also with a score of 14.881 in nobel laureate per capita stands 10th position in the world ahead of US, Germany, and France.
This start-up culture booming in Israel and has about ~6000 startups, and raises venture capital per capita at two-and-a-half times the rate of the US and 30 times that of Europe.
“The Five Point Lesson, Israel teaches”
This entrepreneurial spirit doesn’t end in Israel and when Israelis head abroad they are among the most likely immigrant founders of billion-dollar companies.
According to OECD figures, Israel spends more money on research and development as a proportion of its economy than any other country — 4.25% of GDP against second-placed Korea’s 4.23%.
Israel has a strong track record of standing head and shoulders above other nations in terms of venture capital raised per head of population and some 63 Israeli companies were listed on the NASDAQ, more than those of any other foreign country.”
Between 1999 and 2014, Israelis started 10,185 companies, 2.6% with annual revenues of more than $100 million. Several have become billion-dollar companies, such as traffic app Waze, which was acquired by Google.
After the US and China, Israel has most companies listed on the tech-focused NASDAQ stock exchange.
While all the achievements describe Israel’s many successes in technological innovation, it also attempts to address a bigger question, why Israel still lacks its own Nokia, Samsung, or IBM?