Published By: Orna Ghosh

Is Israel the tech capital of the world?

Israel is known as a hub for religious tourism, adventure sports, beaches and its historical sites. Did you know Israel is also the tech capital of the world? Although search results will name California as the tech capital in the world, Israel is also known for its developed technology sector.

Silicon Wadi is the cluster of cities in Israel. It is known as one of the highest concentrations of tech companies and start-ups in the world. It is home to companies with familiar logos like Waze, Apple, Soda stream and many more. Israel is the fourth most start-up friendly nation on the Earth.

Keeping aside its population which is only 2-2.5 percentage of the total population of the USA, Israel has successfully created some of the top tech companies and entrepreneurs in the world. But how did Israel become popular in terms of technology?

Education. We are aware that talent and education are the keys to development, and Israel is among the top educated countries around the globe. Being a comparatively small country with almost 45% of those over 25 years having a college degree, it is like having intelligent and ambitious people in a confined space. Israel also has some globally competitive universities such as the Israel Institute of Technology, The Hebrew University of Jerusalem and Tel-Aviv University.

Demographics. According to statistical data, the population of Israel is a combined group of people belonging to different age groups. Keeping in mind the development of Israel, the country has enough people who belong to the working-age group. Israel receives benefits because of the Law of Return. According to which, immigration of any Jew, their spouses (including non-Jewish), children and grandchildren will get citizenship on returning to the country. As a result of this policy, Israel now has more than 100 scientists, technicians and engineers for every 10,000 employees. 

Capital. It is one of the ingredients of a Tech developed country, and getting investments is a challenge. However, the news of Israel producing successful start-ups made the process easier. The government of Israel announcing incentives for companies willing to invest made the difference. According to recent data, the country spends its 4.5% GDP on Research and Development.

High Standard of Living. The population of Israel must stay there to contribute towards the development of the country. By providing opportunities and a proper standard of living, Israel is working their way out to make the Israelis stay in the country.