As part of our KMPG After Hours Series, we were delighted to host a Start-up Ecosystem event, connecting start-ups in Australia and Tel-Aviv. Our entrepreneurial panel consisted of Yanir Yakutiel, CEO, Sail; Tamir Vigder, Growth Hacker; Amanda Price, Head of High Growth Ventures, KPMG; and Omri Wislizki, Manager of the Australian landing pad in Tel Aviv (via video conference).

The evening started with the exciting announcement by Minister Kean MP, Minister for Innovation NSW, that submissions are open for the 2017 Tel Aviv Landing Pad mission. The NSW Government, in partnership with Austrade, will send up to 10 NSW startups to Austrade’s Tel Aviv Landing Pad in September this year. NSW startups can review the application criteria and submit their entries via https://launch.innovation.nsw.gov.au/landingpad.

The panel discussed and compared the startup scene in Tel-Aviv and Australia. The audience were keen for lessons of innovation from Israel that they could implement in the Australian space. The panel highlighted the need that Israelis have to build global companies from day one because they are so far from the market, suggesting the importance of thinking globally from outset. The panel also offered insight into the Israeli start-up eco-system: Nine out of ten start-ups fail- this gives Israeli entrepreneurs the experience they need to succeed.

The panel also discussed barriers to Australian innovation. Amanda suggested that the Australian market is complacent, whereas in Israel you don’t have the luxury of hiding. Building more international bridges and encouraging skilled migration were also highlighted as important factors that would boost results in Australia.

The panel closed with three best lessons from the Israeli start-up scene: dream big; don’t fear failure; and don’t fear collaboration. And likewise, three best lessons from the Australian start-up scene: networking; hustling and driving results to go lean; and testing.