Not for nothing is Israel the #2 startup ecosystem in the world — it has more high-tech startups and a larger venture capital industry per capita than any other country. Silicon Wadi has become a world leader in startup success.
How did Israel become a startup superpower?
The reason for Israel’s high rate of success is a largely debated topic. In their best-selling book Start-up Nation, Dan Senor and Saul Singer attempted to explain Israel’s success by pointing to two major factors that contribute most to its economic miracle: immigration and mandatory military service. Others have claimed that Israel’s success is due to great educational institutions, tax cuts and focused government funding policies, the country’s seclusion and limited natural resources that evoked a survival-at-all-costs mentality or simply the illustrious chutzpah characteristic of Israeli culture that sparks innovation.
In an article in Entrepreneur Magazine, Israeli serial entrepreneur Avishai Abrahami argues that the actual secret ingredient of the Israeli startup world is “paying it forward.” Abrahami bases his argument on his own personal experience and success story:
When my company was still in its early stages, it never ceased to amaze me just how helpful colleagues from other Israeli ventures were. Whether offering key introductions, or timely advice, not only were these experienced tech masters willing to make the time, it was always done with a sense of commitment, not just obligation. Whenever I asked why, the answer was invariably the same: “We were helped when we were starting out. Now it’s our turn.”
Abrahami goes on to describe four ways for people to help build a thriving community of like-minded entrepreneurs and create a successful startup ecosystem: (1) Give (and take) advice early and often, (2) Do. Not. Poach, (3) Think of your competitors as colleagues and (4) Get them while they’re young. Abrahami explains that by respecting and helping one another, you are also helping yourself.
“Pay it forward. It always pays back.”
Read the full article here.