Israel is called as the hub of technology innovation and entrepreneurship. It is considered that mandatory military service for both men and women has had a big impact on Israel’s entrepreneurial culture. The military service provides young people with additional training and experience in a variety of technical fields which foster the attitude of entrepreneurship in them.
According to Forbes research, a large number of global companies are looking to Israel for new sources of innovation. Companies like Microsoft, Facebook, Amazon, etc. have set up R&D labs in the country to tap benefit from the brilliant minds. Many of these companies are adopting the concept of “open innovation” in Israel. They work with start-ups and mentor entrepreneurs – but with no strings attached. In fact a large number of Israeli start-ups are being acquired by giant companies to integrate into Israel’s innovation ecosystem. The public offerings and M&A deals of Israeli Hi-tech companies were whopping $23.8 billion in 2017. Further, Israeli start-up companies raised a record $4.8 billion in 2016, up 11% from $4.3 billion in 2015.
With increasing innovation, the urge to protect and get its full commercial value is also on the rise as evident in the patent filing trend from the country. The report shows some key statistics of patent filing activity of Israeli companies and institutes in United States.
Follow the link for full report: