Technology The great power of international startups

08:45  23 july  2020
08:45  23 july  2020 Source:   finanzen.net

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A country as big as Hesse has the edge in the world of tech startups.

Raymond Boyd/Getty Images © Provided by Finanz.net GmbH Raymond Boyd / Getty Images Hotspot of tech startups

In recent years, Israel and especially Tel Aviv has developed into a center of the global high-tech industry. One should not assume that such a comparatively small country hides a major power in international startups, but the successes have also made international top corporations pay attention for years. Many companies in Tel Aviv have recognized the high potential of young Israeli tech startups in the past, and many large German industrial companies such as the Telekom , Mercedes or Porsche have offices near the startup hotspots in Tel Aviv and Haifa set up.

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Many factors for success

Various factors play a role in the success of Israeli tech startups. First and foremost, it is a comparatively young country with a complicated history. Due to a lack of water, food and a feeling of security, it soon became necessary to find innovative solutions that work quickly and that can be realized with your own options. The country's military is an additional catalyst for technical developments at the highest level. The army continues to push ahead with the creation of its own technology in order to become more independent of deliveries from abroad.

Startups are looking for international markets early on.

Another advantage of Israel is the young population and the steady decline in immigration from other countries. This means that founding teams are often multinational from the start and take advantage of this. Because many people already have experience from abroad or have an extensive network. In addition, an international orientation is essential for Israeli companies to survive anyway, since the domestic market is too small. This is why the growth strategy focuses on internationalization at an early stage and as a result, new markets are constantly being sought and foreign investors are being addressed.

First-class universities ensure innovation

The young Israelis are prepared early on and supported in their careers. The country's two most important universities, the renowned Weizmann Institute in Tel Aviv and the Technion in Haifa, play the most important role for the impressive technical developments. Both universities offer their own units for motivated young entrepreneurs in order to help their graduates with the establishment and search for funding. However, early on in the entire education system in Israel, attention is paid to promoting knowledge in the mathematical and natural sciences

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