The Start-Up Nation Changes Direction
By Sherwin Pomerantz, President of Atid EDI Ltd., and PA Authorized Trade Rep. and PA Investment Rep. for Israel
Originally posted online at atid-edi.com
Israel, since the beginning of the high-tech revolution in the early 90s, has rightly earned the title of “Start-Up Nation” given that it is one of the top five centers of technical creativity in the world. I say the top five because rankings vary but clearly outside of the United States, Israel has more start-ups in absolute terms than any country in the world, bar none. With approximately 3,000 of them extant at any given moment, most other country’s stats pale by comparison.
But, of late, there has been a perceptible change in the makeup of the technology coming out of Israel. That change can be described as a switch from developing products to developing features and enhancements.
For example, in the past the things for which Israel was famous and which everyone acknowledged as transformational products included:
These are just a few examples of the tech product development that went on for years in Israel and contributed to Israel’s start-up nation reputation.
But lately, as we meet young startups seeking funding and strategic partners, we are noticing that the focus has turned to developing features and enhancements rather than specific products. Some current examples:
In each of these cases the developers have created a feature or enhancement that makes current activities either safer, more efficient or more profitable.
For those who worry about whether Israel as start-up nation is at risk of losing its “Mojo,” these new directions emanating from local techies clearly illustrate that the creative community here is well ahead of the curve and fully understands where the new opportunities are in technological development. This response augurs well in favor of Israel’s continued superiority as the start-up nation.
Sherwin Pomerantz is the President of Atid EDI Ltd., a Jerusalem based business development consulting firm representing the export promotion and investment attraction interest of six U.S. states and the Province of Ontario (Canada) as well as investment attraction efforts for Hong Kong. In addition, over its 25 year history, the firm has successfully raised investment funds for Israeli companies as well as handled business development activities for private firms in locations as diverse as Ireland, France, South Africa and Germany.