Israel’s reputation as the start-up nation is well deserved. The spirit of entrepreneurship that flourishes in the trendy districts of Tel Aviv and beyond has generated a hi-tech industry that now accounts for 20% of gross domestic product. Today Israel stands shoulder to shoulder with global technology hubs in the US, Asia and Europe. For a country of 8 million people, this is a remarkable achievement. A number of factors, including supportive government policy, private-sector finance and a talented human capital pool, have all contributed to this hi-tech ascent.
Yet, this journey is as much about entrepreneurial daring as it is about finance or policy. The urge to try, to dare, to risk everything in pursuit of entrepreneurial success is at the heart of the country’s technology community. Most Israeli tech entrepreneurs have tasted failure more than once. While this may be a common theme for small business owners, in Israel there is no stigma attached to failure. Instead there is a reverence for the struggling entrepreneur.
