Want to know how Israel became Start Up Nation, a global leader in technology, with the kind of creativity and energy that gives Silicon Valley a run for its money? This Kauffman Sketchbook video features Jon Medved, CEO of OurCrowd, who knows a thing or two about the Israeli tech ecosystem, explaining what happened.
According to Medved, the Israeli government set up a fund called Yozma, which means initiative. The fund’s goal was to help jumpstart a venture capitalist industry in Israel.
It worked very well.
Medved also said that the compulsory military service Israelis face has been very good for the tech industry. The army takes the country’s best and brightest kids and teaches them how to work collaboratively, how to lead, how to compete, and how to excel.
That works too.
Watch the video and let us know what you think.