Industries, Innovation and Infrastructure
The Unstoppable Startup Nation
Look in the dictionary under “innovation” and you might just see an Israeli flag. All jokes aside, Israel has worked hard to earn its reputation as the Startup Nation, and this is not a recent development.
Ever since Israel was ratified as a state in 1948, it has become an unstoppable force in innovation. Many innovations, to be sure, have been developed to solve Israel’s litany of existential challenges, such as: resource scarcity, ethnic conflict, immigration, fiscal constraints, security and environmental problems. Israel took these problems and turned them on their head, making them assets for economic growth.
Recently, technologies such as crypto and digital were the hallmarks of Israeli innovation. Now new technologies like Deep-tech, Artificial intelligence, cybersecurity and fintech, as well as the medical cannabis trend are beginning to take their place. While most of these have been developed to serve Israel itself, Israel has likewise demonstrated competitive advantage in innovative technology for sustainable development goals in other countries as well: for example, in agriculture, climate change, renewable energy, energy efficiency, health, and water – and the cybersecurity to insure the delivery of these critical goods and services.
In an October 2018 report published by the World Economic Forum, the “Startup Nation” ranked first in the world for its attitude toward entrepreneurial risk and for the growth of innovative companies. Even Wikipedia has its own list of Israeli inventions and discoveries, ranging from categories such as math, robotics, chemistry, physics and optics, to economics, biotechnology, computing, defense, agriculture, energy, consumer goods, games, food and physical exercise, to name a few. The entry claims that there are over 6000 startups currently in Israel.