BUSINESS & ENTREPRENEURSHIP
OCTOBER 2016

I came across an article today about Israel being a hub of entrepreneurship thanks to government backing. Now many of you know I am not a fan of government; I just think they suck the life out of anything they touch, and then charge us.

Anyway, Israel has the highest percentage of scientists and engineers per capita, the second-highest concentration of startup incubators and research facilities, and is fourth in patents - despite being a young nation with a population around 8 million. While good schools and close relations with the United States have contributed to Israels emergence as a center of high-tech innovation, the biggest factor in their success may be mandatory military service.

Because every Israeli must enter service at age 18, those with exceptional scientific or technical sills are identified, when they otherwise might have slipped through the cracks. Another contributor to Israeli innovation? A $450 million annual budget for the Office of the Chief Scientist, which provides research and startup money that accounts for 85 percent of the nations incubator seed funding.

How cool is that? Perhaps we can learn something?

Joe Bouch
CEO, 78Madison

78Madison is a full service marketing communications firm (advertising agency) located in Altamonte Springs, Florida, a suburb of Orlando, Florida.

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