Israeli Venture Capitalist: ‘Under the Hood,’ Many Major Tech Advances Started Life in Israel
Israeli venture capitalist Jon Medved told Charlie Rose in a recent interview that behind the progress of many of the world’s tech giants, such as Google and Microsoft, is the blue and white of Israeli innovation.
“A lot of the technology you see coming out of Google and Microsoft, Intel and Cisco, actually started its life in Israel,” said Medved, CEO of OurCrowd, a funding platform for investors to back Israeli start-ups.
Medved called Israel’s high tech sector “remarkable” and explained that “under the hood,” many of the world’s advances in technology originate in Israel.
Israeli start-ups are constantly acquired by American corporations. Hundreds of these start-ups are created each year, Medved said, “You basically go outside, you throw a rock, you hit a start-up ‘beast’ as we call them.”
Silicon Valley may have a rival in Israel’s high tech sector, Rose said as the Jewish state is the third largest source of listings on America’s NASDAQ stock exchange after North America and China.
Medved, who called Israel “the world’s incubator for ‘the new idea,'” said the country is continuously expanding its presence in the tech industry.
“Last year there was 2.2 billion invested in start-ups…[and] there actually are companies of size being built in Israel right now,” he said. “There’s Checkpoint, which is the leader in security, they’re $13 billion, and Teva, which is the big pharmaceutical giant which is tens of billions of dollars.”
Medved said that while Israel has not yet developed a household name in the tech world, he is confident the country will make it happen soon enough.
“We don’t yet have a Facebook or even a Whatsapp yet, but I think we will,” he said.