From Start-Up Nation to Scale-Up Nation
Although only a small country, Israel has one of the highest concentrations of innovation and entrepreneurship in the world, and a remarkable success rate in commercialising this innovation –turning the bright ideas from research and academia into marketable and profitable business products. High-tech is an engine of growth; creating high-paying jobs; is heavily export-oriented; and capitalises on a highly skilled workforce.
Israel is home to over 400 multinational R&D centres, many of them Fortune 500 companies, illustrating Israel’s profound and disproportionate impact on the advancement of global innovation. Global companies include Apple, GE, General Motors, Google, IBM, Intel, Meta, Microsoft, PayPal, Samsung and many others.
Previously Israel was known for the highest number of start-ups per capita in the world. Today Israel also has more unicorns (companies valued at over $1 billion USD) than any other country
- Israel has more companies listed on the NASDAQ than any country besides the United States and China.
- Israel has the highest national expenditure on civilian R&D as a percentage of GDP globally.
- Israel is also a leading destination for global venture capital investment. In 2022 almost $15 billion USD was raised in 663 deals.
Australia – Israel Relations
Relations between Australia and Israel predate the establishment of the state. During World War One, hundreds of young Australians played a crucial role in the Allied forces’ campaign in the Middle East, liberating Palestine from the Ottoman Empire. Memorials in Jerusalem and military cemeteries commemorate the sacrifices of these men, particularly the legendary Light Horse Brigade – which fought in the crucial battles for Gaza and Beer Sheva.
Australia was the first country to vote in favour of the 1947 United Nations partition resolution that resulted in the foundation of Israel as a nation-state. It established diplomatic relations with Israel in 1949, and the relationship has flourished, enjoying the firm support of Australia’s 100,000+ Jewish community.
Australia – Israel Trade Relations
Australia’s bilateral economic relationship with Israel continues to grow. Two-way goods and services trade amounted to approximately AUD$ 1.3 billion in 2021. Israel is Australia’s 45th largest two-way trading partner and 50th largest export market.
There are almost 20 Israeli companies listed on the Australian Stock Exchange (ASX), making Israel the third largest source of foreign company listings.
There are many more Israeli companies operating in Australia.
To see a list of Israeli businesses looking for Australian opportunities and partners
With thanks to the Israel Trade and Economic Commission.
Israeli Innovation News
Israel 21C A non-partisan, non-profit publisher of news and information about Israel, including innovation and technology breakthroughs.
NoCamels covers breakthrough Israeli innovation in tech, science, food, health, cybersecurity, clean energy, art and design – and more – for a global audience.
The Times of Israel A one-stop site for news, features, blogs, and more, on Israel, the ‘start-up nation’, and the region.
Calcalist CTech English language version of daily business newspaper and website Calcalist, focusing on technology news.
Globes The English version of the Israeli business daily “Globes”.
Books on Israeli Innovation
Start-Up Nation. The Story of Israel’s Economic Miracle by Dan Senor and Saul Singer
Chutzpah: Why Israel Is a Hub of Innovation and Entrepreneurship by Inbal Arieli
Tech insider Inbal Arieli goes against the common belief that Israel’s outstanding economic accomplishments are the byproduct of its technologically advanced military or the result of long-standing Jewish traditions of study and questioning. Rather, Arieli gives credit to the unique way Israelis are raised in a culture that supports creative thinking and risk taking. Growing up within a tribal-like community, Israelis experience childhoods purposely shaped by challenges and risks – in a culture that encourages and rewards chutzpah.
Thou Shalt Innovate: How Israeli Ingenuity Repairs the World by Avi Jorisch
Thou Shalt Innovate profiles wondrous Israeli innovations that are collectively changing the lives of billions of people around the world and explores why Israeli innovators of all faiths feel compelled to make the world better. This is the story of how Israelis are helping to feed the hungry, cure the sick, protect the defenceless, and make the desert bloom.
Let There Be Water: Israel’s Solution for a Water-Starved World by Seth M.Siegel
With hardly a day without a water crisis story somewhere, Let There Be Water offers prescriptions on how countries, cities, and businesses can avoid the worst of it. With 60 percent of the country in a desert and despite a rapidly growing population, Israel has been jumping ahead of the water innovation curve for decades and has created a high-export industry in water technology.