Israel's high-tech ecosystem was cultivated by its military elite, but it increasingly draws on talents from two minorities: Israeli Arabs and the Ultra-Orthodox.
There are many reasons why Prime Minister Benjamin Netanyahu was re-elected, despite all of his legal troubles, and notwithstanding a formidable group of former generals running against him. But the most significant one is simple: Israel’s economy is booming. Over the last twenty years, and especially over the past decade, Israel has transformed from a struggling economy into a powerhouse.
Once these young people re-entered civilian life, they promptly applied those skills to establish startups. And the cycle doesn’t stop there: many established programmers working for cutting-edge startups still have to do reserves service. This sees them returning to their old units for several weeks every years, feeding the innovation of the private market directly into the greenhouse of military service and into the work of young conscripts, who will themselves kick off new startups, some day.
The initial successes of the high-tech sector in Israel spurred the creation of a strong ecosystem, which, while unable to guarantee every startup will succeed, does ensure that most have every chance to do so. For many startups, entry into Israel’s high-tech ecosystem begins with joining one of the dozens of incubators that exist.
Israel is a great place for venture firms to work, as Mickey Steiner of Innogy Innovation Hub stated"As a German corporation we — find in Israel very attractive investment opportunities, based on deep technology and good market understanding. Israel has highly qualified and well-educated talent pool — veterans of the well-known IDF intelligence units , graduates of high-quality universities, experienced entrepreneurs.
As Israeli startups continue to grow, some have gone public though many others have been bought by multinational corporations—the most notable acquisition being Intel’s 2017 purchase of Mobileye for $15 billion. These numerous purchases have resulted in every major tech company operating significant R&D centers in Israel.
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