Israel’s tech scene is growing so fast the country is called the ‘Startup Nation,’ but a local venture capitalist says it’s in danger of losing its entrepreneurial edge

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According to (This article and its images were originally posted on Tech Insider September 22, 2018 at 12:34PM.)

  • Israel is often called the “Startup Nation” due to the sheer number of entrepreneurs and tech companies in the country of 9 million people.
  • Itzik Frid, a longtime Israeli tech entrepreneur and the CEO of a startup incubator focused on Arab-led startups, believes that the country will lose its edge if it can’t better integrate its Arab minority into the tech industry.
  • While Arabs make up 21% of Israel’s population, they currently only make up about 3% of the tech workforce.
  • Frid believes that bringing more Arabs into the tech workforce could alleviate the massive wage gap the population faces and improve the Israeli economy.
  • This post is part of Business Insider’s ongoing series on Better Capitalism.

Israel produces an impressive number of highly successful tech companies for a country with just 9 million people, from social navigation app Waze, which sold to Google in 2013 for $1.15 billion, to autonomous driving company Mobileye, which sold to Intel last year for a whopping $15.3 billion.

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This article and images were originally posted on [Tech Insider] September 22, 2018 at 12:34PM. Credit to the original author and Tech Insider | ESIST.T>G>S Recommended Articles Of The Day.

 

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