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 S8 countries 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.