Israeli start up nation
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Israel Start-up Nation
Decoding the Israeli start up culture
Yakir Falik
February [email protected]
(C) Yakir Falik 2013
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Who?(C) Yakir Falik 2013
• Yakir Falik
• MBA Brunel Business School London
• Co-founded 2 start-ups (1 ex)
• CEO @ Fajoya
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Agenda
Israel – Facts and figures
VC Industry
Measurements
Eco system
Culture
What's in it for you
(C) Yakir Falik 2013
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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
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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
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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
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MNE’s with R&D centres in Israel
(C) Yakir Falik 2013
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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
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Compulsory army service
Uncertainty
Social skill
Leadership and management skills
Leading from behind
(C) Yakir Falik 2013
Israel entrepreneurial culture
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Constructive failure
Supportive incorporation
liquidation legislation
Informal business culture
Power distance (Hofstede)
Chutzpah
Entrepreneurial culture – cont.
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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
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Thank you!
“I have not failed. I’ve just found 10,000 ways that won’t work.”- Thomas Edison