Last month, PROVEN’s Co-Founder, Ingram Losner, journeyed to Israel to meet with local tech executives and startup founders considering operations in the U.S.
A British ex-pat and U.S. business owner himself, Losner was invited to give a presentation on the unique challenges and opportunities international companies face when navigating the U.S. labor market. He was there to learn as well.
Among his many discoveries, Losner reaffirmed his belief that the “Start-Up Nation” is laser-focused on the U.S. as a major source of future funding, talent, operations and acquisitions – a trend that will only increase the already-fierce competition for tech talent in the United States. However, with the proliferation of successful Israeli startups on U.S. soil also comes reciprocal benefits such as an influx of new talent, ideas and capital into our Knowledge Economy.
Therefore, Losner believes, there is a growing imperative for domestic firms (such as PROVEN) to embrace Israeli startups and to help facilitate frictionless entry into the U.S. Here, he provides a first-hand account of his inspiring journey.
“It’s no secret that one of the world’s most progressive, technologically-inspired economies is found in one of the most troubled regions. Last month, Israel celebrated its 67th birthday as a flourishing capitalist democracy which boasts, despite its geo-political difficulties: the largest number of technology startups per capita, highest amount of Nobel laureates per capita, and the second highest number of companies quoted on the NASDAQ. (Among many other accomplishments.)
A drive around the outskirts of any major Israeli city encompasses a “who’s who” of American high-tech businesses that have invested in the most precious of resources – knowledge. Google, Intel, Facebook, EBay, Qualcomm, and Microsoft have R&D facilities all over Israel. These companies, along with many other U.S.-based organizations, are continuing to invest in order to tap into the brainpower that provides us with up to 5,000 technology startups each year, mirroring the innovation hub known as Silicon Valley.
Israeli companies are now targeting the U.S. as a major source of funding, operations and – perhaps most significantly – acquisitions. It’s a trend that I’ve been watching for a while now, which is partly what led me to present to a group of Israeli Executives and Academics in Tel Aviv on the challenges and pitfalls Israeli companies might face when entering the U.S. market.
PROVEN is establishing a reputation among Israeli venture firms and high-tech companies that have their eyes on the unlimited possibilities connected to U.S. expansion.
‘The economic fundamentals are neatly aligned,’ I thought, as I wrapped up a visit to the worldwide headquarters of Rivulis, a leading drip irrigation company and PROVEN client. The emphasis on a sharply focused, technology driven education system and the ‘Start-Up Nation’ philosophy provides progressive Israeli companies with a rich seam of possibilities in the U.S. Where PROVEN helps is ensuring the cross-national cultural and legal challenges are overcome as seamlessly as possible. And, most importantly, that the process which identifies and engages the best talent remains free from any misunderstood customs and nuances.”
Losner’s visit to Israel was the second in which he addressed Senior International Executives on the challenges and pitfalls of doing business as an overseas company in the U.S. Last year he addressed an Austrian audience at the offices of PROVEN’s CFR Partner, Trescon, in Linz, Austria. To contact Ingram, please email him or leave a comment below.