In a world where investors seek stability, how has a country that’s
been embroiled in three wars in the past decade alone become a high-tech
hub sought out by global giants such as Warren Buffett and Intel?
Saul Singer and Dan Senor, a former spokesman for the Coalition Provisional Authority in Iraq, have drawn much attention for their explanation of that question and others in their New York Times bestseller Start-Up Nation: The Story of Israel’s Economic Miracle. But critics say that the story behind how a country of 7 million has more Nasdaq-listed companies than Europe is more complex than Singer and Senor paint it to be. They also question how sustainable Israel’s success as an innovation center will be.
Data released today added a sobering dose of news, revealing just how hard the global credit crunch hit one of the world's hottest centers of innovation. Israel’s IVC Research Center reported that Israeli venture capital funds were able to raise only $229 million in 2009, a 72 percent decline from the previous year, though fundraising is expected to rebound to $500 million for 2010.
To read the full, original article click on this link: Innovation center? How Israel became a 'Start-Up Nation.' / The Christian Science Monitor - CSMonitor.com
Author:
Ilene R.
Prusher
