Israel’s economic success lies in start-ups, innovation

23.06.2011                      21.Siwan, 5771


Israel's economic success lies in start-ups, innovation

'Start-Up Nation' co-author Saul Singer says maintaining comparative advantage in innovation is key to Israel’s success.

Rather than worry about establishing big companies, the key to the future of Israel’s economic success lies in safeguarding its comparative advantage in start-ups and innovation, Start-Up Nation coauthor Saul Singer said at the Israeli Presidential Conference in Jerusalem on Wednesday.
“Israelis sometimes underestimate or misunderstand their own comparative advantage in the world,” he said. “And they have a tendency to ask, ‘Where’s our Nokia, where are our big companies?’” After finding that business people in Finland looked to Israel for examples on how to innovate, Singer said he quickly realized “that while Israelis have Nokia envy, in Finland they have start-up envy. And it turns out that in Korea, in Singapore and all around the world, people are trying to figure out how to do start-ups, and they have been traveling here to find out.”…