from the April 2012 issue

The Secret of High-Tech Success

Much has been written and said about Israel's high-tech success. Essentially there are two factors that lie behind the success. One is the Technion Institute of Technology, which produces no fewer that 75% of the country's engineers. The Technion offers a broad range of studies that include aeronautical engineering, computer sciences, chemical engineering, among others. The Technion, to this date, has produced two Nobel Prize winners.

Most important is that the Technion has produced the personnel that run the country's high-tech companies. There is not a single company that does not employ Technion engineers.

While Israel's success story in developing state-of-the-art technology, the Israel Defense Force (IDF), in which service is mandatory for most Israelis, is a useful path for "wannabe" entrepreneurs.

It provides young Israelis with the opportunity to develop a wide array of skills and contacts in an environment where creativity is highly appreciated and encouraged.

Yet, the education is not the only factor underlying high-tech success. The other is the experience gathered during army service. The young soldiers are put work on highly technical subjects.

The experience thus gained during the period of army service is sufficient for them to later form start-up companies. It has been likened to several years of practical experience in industry.

Reprinted from the Israel High-Tech & Investment Report April 2012

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