A small country called Israel with a population of just over eight million has surprisingly emerged as the foremost startup destination in the world. It has the highest density of start-ups in the world, with 1 for every 2000 people. No wonder this pulsating place is looked up to as the Startup Nation of the world!
The startup ecosystem is in a dramatic space and vibrates with exciting energy. The nation is literally brimming with gifted scientists, sharp tech professionals and shrewd entrepreneurs who come up with daringly creative startup ideas. The startup success stories have to be seen to be believed – the varying genres are spread across cyber security, programming, artificial intelligence, medical devices, other innovative products and even transcend to clean energy. So much so that, Israel has more companies listed on NASDAQ than any country besides USA and China!
So, what has the narrative been like that has led Israel to have more hi-tech startups than any other country in the world? The unparalleled triumphs are usually attributed to friendly government policies for startups and a thriving climate of transparency and collaboration. Some are of the view that the compulsory military service for both men and women empowers them with an array of crucial skills like analysis, decision-making, responsibility, teamwork, self-reliance, disruptive thinking and more. Or it could just be that the Israeli culture is naturally crammed with entrepreneurial energy and innovation is deeply embedded in the people who are determined to be self-sustaining at any cost.
Irrespective of what is fueling the remarkable engine, the fact is that Israel is a nation of entrepreneurs and the startup prowess has earned it an enviable place on the global map. People across the globe are now vying to get a share of its hi-tech future. In fact, investor confidence is extremely high in Israel and it attracts more venture capital per capita than any other country. Moreover, government agencies, multinational corporations, smaller companies and individuals are all clamoring to get access to this innovative ecosystem.
But how does one sitting in New York, Miami or Toronto actually do business with a firm in Tel Aviv or Jerusalem? Who will be the go-between to sort out the transactions and issues and pave the way for successful investments? Even specialized legal advice is essential as the rules and regulations vary a great deal in this far-flung country. And dealing with the financial matters is another story altogether.
This is exactly where international Israeli law firms come into the picture. Armed with a clear understanding of the Israeli economic climate, rich experience with the local legal environment and a global presence, these law firms are best placed to serve the interests of clients with financial interests in Israel. They are also associated with the Israeli consulate NYC to boot.
The author is a law officer. He has penned down to write the article on Israeli consulate in NYC to make people aware why to Israel as a destination for starting your business venture.