Start-up Nation 2.0
Many countries have long admired and even tried to emulate Silicon Valley. Everyone has failed, but Israel.
With a thousand new firms launched every year, the country has far more high-tech start-ups per capita than any other nation in the world and also attracts more venture capital per capita than any other country.
Israel has a small, adaptive and ambitious population, experiences geopolitical struggle, has a lack of natural resources, a tiny domestic market and hence no export. Israel’s success is based on its stable, pro-business politics, considerable value placed on education and work ethics and a vast, well-connected and resourceful diaspora.
Israel’s GDP per capita was last $40, 258 and is predicted to increase further. Trade with China has surpassed $10 billion in 2015 and unemployment rates are as low as 3.7 percent. Public debt has decreased to 61.2 percent of GDP and experiences a current account surplus.
Additionally, Israel was ranked among the five happiest countries in 2015 behind other S8nations such as Denmark, Switzerland and Finland. Over 300 multinationals have set up their R&D centers in Israel to develop their innovations and many country delegates visit the country to investigate and understand its success formula.