Tech Expert Says Israeli Entrepreneurs ‘Unparalleled’ in Innovation, Lack Ability to ‘Tell Their Story’
Israelis are great tech innovators, but fall short when it comes to marketing their wares, a startup adviser told Inc. magazine recently.
“Israel is the number one place for tech entrepreneurs and the quality and quantity of innovation here is unparalleled,” said Hillel Fuld, a New York native who moved to Israel to get involved in the country’s tech scene. “Israel is a fantastic environment for startups and we have some of the world’s leading R&D talent…There is a long list of Israeli companies reaching the level of global tech leaders. [But] the biggest hurdle for Israeli entrepreneurs is their ability to tell their story and going to market.”
Fuld explained that some companies focus so much on engineering and developing technology, and get so “deeply rooted” in the process, that they often lose focus on the “why” aspect of it all. He added, “Subtlety isn’t really a part of Israeli culture and that definitely manifests itself in the local marketing talent through a stronger focus on sales and less long-term marketing. Lastly, most Israeli companies often relocate their sales and marketing to the US, but that is also a trend that is beginning to shift with more local companies beginning to do their marketing locally.”
Fuld is a co-founder of ZCast, a company that focuses on live interactive podcasting, and has worked as a mentor to help startup tech companies “tell their story, create strategic partnerships and scale their operation,” according to his LinkedIn page. He has been a contributing writer and featured guest for numerous publications — such as TechCrunch, Mashable, CNBC and Forbes — for his expertise on the Israeli tech scene.
Israel has more entrepreneurs per capita than any other country in the world, and in 2015, it raised a little over $3.6 billion to support its startup companies, according to Inc. magazine. Most global tech companies –including Apple, Google, Intel and Microsoft — have research and development sites in Israel.
Fuld said Israel is best known for its innovation in the field of cyber security, but lately has been working to develop technology in enterprise, data-gathering, drones, agriculture and healthcare, “all with a heavy focus on revenue and early traction as an indicator of success.”
Speaking about his work with startups and how they can succeed down the line, Fuld said he loves meeting “passionate and talented entrepreneurs who love to tell me what they built and how they built it.”
“I then sit with them and explain to them why they built it, who their competitors are, how they can go to market, and what is their best strategy for business development,” he said. “That is what keeps me up at night, helping the ecosystem grow and transition from “Startup Nation”to “unicorn Nation.” That shift will happen soon — it has already begun!”