As we enter 2013, it seems like a fitting time to question what lies in store for the “Start-Up Nation” in the coming years. A long-standing debate exists on the source of entrepreneurial opportunities.
With Israel’s strong ties to America and Europe, it is unsurprising that most of the opportunities Israelis pursue involve developing gizmos and gadgets that answer recognized needs in the Western world. In this respect Israel the “Start-Up Nation” is certainly at the forefront of the types of innovative technologies that improve Western consumers’ lives by making them simpler and more convenient or entertaining.
However, Europe and North America comprise only 15 percent of the world’s population and its share in global GDP is constantly shrinking. Sub-Saharan Africa and Asia, on the other hand, are seen as strategically significant and rapidly growing new markets with annual average real GDP growth rates of 5.7% and 7.9%, respectively, compared to the OECD average of 1.65% in the past decade.
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