Whether or not you are familiar, Israel actually has many different nicknames; “The Holy Land,” “Eretz Israel,” “the Land of Milk and Honey.” One alias Israel has that stands out from the rest in the modern business world is the “Start-Up Nation.” This nickname was surely not given to Israel in vain, primarily because of the many successes that Israel has seen in the areas of tech and entrepreneurship. But what does it take to be considered a start-up nation?
What’s So Special About a Start-Up Nation Anyways?
Success for Israeli companies and start-ups cannot be definitively attributed to one cause or another, but there are many different speculations as to what is causing Israel’s entrepreneurship and technology sectors to thrive.
With Israel as a home to many innovative and determined business people, thinking outside the box and taking risks is just a part of daily life–for example, check out this article about the most unique Israeli startups. Entrepreneurship in Israel is relevant in many different career fields, allowing the country to see success come to light in many different aspects. It is important to note that the country’s productivity is not limited to certain occupations, but it is rather spread out across all professions and specialties, such as agriculture, health, and even cuisine.
We hear the term “start-up company” very frequently, but it is important to distinguish why a start-up is different from all other companies and businesses. A start-up is a new company that seeks to satisfy demand while projecting rapid growth and expecting a large profit. Israel itself has over 6,000 start-ups, making its presence notable in regard to opportunities for younger companies. Even 6 years ago, a statistic showed that over 250 multinational companies added a business location in Israel, 80 of these companies being Fortune 500 companies, and that number has only grown over time.
Climbing the Ladder of Success
In the past year, Israel has climbed from No. 10 to No. 5 in the most recent Bloomberg Innovation Index of 2019, and Israel remains in the top two for the R&D (Research and Development) intensity category. This level of achievement leaves people wondering how Israel manages to be such a small country yet have such a large global impact.
An article in The Times of Israel considers the idea that being an entrepreneur in a smaller country may provide some benefits to the overall status of brands and companies due to the fact that it is possible to have a closer relationship with target markets and other business leaders. From this idea, we can gather that Israel succeeds in geographical closeness, which ideally helps their networking efforts. While land might play a small role in Israel’s recipe for success, the proof is evident for start-ups: Israeli innovation is within its roots.
Not only does Israel have the resources, ideas, and entrepreneurs dedicated to making their dreams a reality, but there are many external sources available to startup businesses, not to mention the laid back office atmosphere. Many start-up accelerators and business accelerators were designed to help start-ups grow and give them the tools to succeed and essentially to build their brand or product. With countless natively founded companies in Israel, nothing seems impossible. Furthermore, in many situations, Israel is left to provide for itself due to the fact that it does not have the best relationship with its Middle Eastern neighbors. Isolation has allowed Israel to cultivate worldwide and local relationships, establish a global presence, and export goods and services that will boost its economy even from a distance. Good relationships with other countries have allowed Israel to become a hub for innovation, exports, and immigrants.
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After evaluating various factors that could contribute to Israel’s success, at the end of the day it comes down solely to the founder and the company. But Israel can give young companies a plethora of resources to succeed and take their business to the next level. Companies like Mobileye, Waze, SodaStream, Fiverr, Gett (the list goes on) are prime examples of the large success that Israel has seen as a start-up nation. These companies are worth millions of dollars, even up to the billions, and they all started in Israel. Next time something seems unattainable or there’s a task too large to manage, try letting the start-up nation inspire you, and you just might find success.
Start-Up Your Hebrew Today!
With Israel’s extensive business culture and endless opportunities, it is extremely helpful to master the Hebrew language. The ability to connect with others through your native language may not be guaranteed, but speaking Hebrew could make this possible. Register for live, online Hebrew courses with Rosen School of Hebrew to start your journey today.