Israel, a tiny country with a population of around 8.5M, is often known as “The Startup Nation”. With over 4000 startups operating in an increasingly maturating startup ecosystem, Israel has largest number of startups per capita in the world - around 1 startup for every 1400 people.
According to statistics from 2017, Israel has about 4000 startups and 40,000 people working in the high-tech industry. Startups contribute 15 percent of the export GDP and raise 2.5 times more venture capital per person than the US and 30 times more than European countries. This makes Israel the second most innovative country globally.
There are a number of resons that have contributed to a unique startup ecosystem in Israel. Doron Shpasser, who is supporting E.ON activities in Israel, names a few:
As much as big corporates seek to get their share in Israeli startup ecosystem, the startups themselves are looking for new partnership opportunities. “Israel is such a small country. We are limited with a number of customers. What is more, startups are looking to grow, to scale. Everyone is happy to have a big players like E.ON as a reference,” Doron Shpasser explains.
Making the first steps in the Israel market, E.ON is currently focusing on grid, customer solutions and cybersecurity – an essential pillar of the startup boom in Israel. Starting with a corporate challenge in Tel Aviv in December this year, E.ON is looking for the first Israeli startup to start a paid pilot with their IT security team.