A tiny nation of 8 million people is one of the leading startup hubs in the world. Here's why Israel produces so many top entrepreneurs.
Israeli soldiers work on laptops as they take part in a cyber security training course, called a Hackathon, at iNT Institute of Technology and Innovation, at a high-tech park in Beersheba, southern Israel August 28, 2017."It's something we're notorious for, our superpower as Israelis is our self-confidence," said Shai Wininger, cofounder of insurance startup unicorn Lemonade, valued at more than $2 billion following its last funding round.
Finally, Israeli entrepreneurs claim that their greatest strength is improvisation. Getting things done on the fly with little to no planning but iterating quickly to meet deadlines.The regular explanation for the change in mindset in Israel is the oft-repeated industry aphorism: From start-up nation to scale-up nation. But that doesn't do full justice to the existing and now growing ecosystem for founders in the country.
That's precisely what Assia did, alongside his brother Ronen, to found eToro in 2006. The company had over a trillion dollars in assets deployed through its trading platforms last year and employs more than 800 people across global offices. While this "older generation" of venture capital funds is now very well-capitalized, there have been some 50 or so "micro VCs" set up in the past decade which specialize in different parts of the tech world.
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