Israel is considered one of the largest innovation clusters in the world. That is because most of the successful startups emerged from there. Companies such as Waze, Wix and Moovit brought visibility to the country, which became known as the Startup Nation. Some factors have influenced Israel’s technological advances and recognition, and here are some of them:

The country has an entrepreneurial culture

Society values entrepreneurs and accepts and celebrates failures. Between 1999 and 2014, only 4 out of 100 startups were successful according to a study by Professor Udi Aharoni. But the total number of startups increases each year.

Government support

Government invests about 4.2% of GDP in innovation. To encourage investment in startups, in 1991 the government created an incubation model that gave money to startups with no participation in the company share capital.
Abundant capital for startups in the new economy. In 2017 only, more than $5.2 billion was invested by VCs (Venture Capitalists) in Israel. And 84% of this capital came from foreign funds. In 2016, more than $4.831 billion was invested by VCs in Israel; and 87% came from non-Israeli-based funds.

Values education

Israel has the largest number of engineers and scientists per capita; there are 135 engineers and 140 scientists. Many of them are awarded, 12 have already won the Nobel Prize.

High cultural exposure to other cultures

Of the 8.8 million inhabitants, more than 4 million of the inhabitants have traveled abroad. This rate is extremely high. More than 30% of Israelis over the age of 20 have traveled abroad at least once in the previous 12 months, according to the country’s National Statistics Center.

Thanks to the Free Trade Agreement between Brazil and Israel, many activities have been done between the two countries and the business interest between both parties continues to increase, not only in products, but also in services and partnerships in research and development. Become a member of Brazil-Israel Chamber and join this evolution: https://cambicirj.org.br/associe-se/

 

Reference: https://www.startse.com/noticia/ecossistema/entenda-como-israel-se-tornou-startup-nation