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MicroSummary: In “Start-Up Nation”, Dan Senor and Saul Singer try to explain how a relatively new, small and resourceless country has become one of the start-up capitals in the world. Israel is a land of entrepreneurs and has more startups per capita than US, and Senor and Singer say that it’s exactly because of historical and political problems.
The Story of Israel’s Economic Miracle
Despite Israel’s limited access to useful resources, its ability to adapt, change and innovate has proven to be the perfect background for entrepreneurship and doing business. No wonder why it’s called Start-up Nation.
Every nation relies on different aspects when it comes to wealth and military power. Innovative entrepreneurs that invest a certain amount of capital, time and energy on numerous ideas represent the primary engines for building a significant amount of individual wealth and national prosperity. It is no wonder why Israel is the greatest example of such an extraordinary economy.
And we present you a quick overview of the information you will get in their book.
Who Should Read “Start-Up Nation”? and Why?
Today’s economy is under constant pressure. Scientists, economists, brokers and other citizens who enjoy their fair share of the worldly capital are trying to understand the phenomenon of global economic growth and collapse.
Israel as a country that is synonymous with prosperity and financial stability is an excellent basis for studying these concepts. The idea of globalization undoubtedly encourages young adults to innovate and create value through real methods and techniques.
“Start-Up Nation” not only explains the process of a prosperous entrepreneurship but also it ignites the entrepreneurial fire burning inside those individuals who call themselves entrepreneurs.
About Dan Senor and Saul Singer
Dan Senor is an American-born columnist, writer, author and a council on foreign affairs. He was born on November 6, 1971, in Utica, New York- US. Senor grew up in Toronto and graduated from Forest Hill Collegiate Institute after Dan received his bachelor degree he started to work for Fox New – analyzing foreign affairs and as a writer for The Wall Street Journal.
Saul Singer is also an American-born publicist, journalist, writer and a columnist. He was born in the US in 1961, and alongside his brother, he wrote “Start-Up Nation” published in 2009, he is also the author of “Confronting Jihad.”
“Start-Up Nation Summary”
If we mention oil, you will probably think of Middle Eastern countries, right?
However, you have to have in mind that financial, military and law enforcement aspects are more vital when you consider an entrepreneurial nation.
Israel proﬁles above all the traditional, military and financial attributes that have a serious contribution to nation’s entrepreneurship because Israel is being named – the world’s most entrepreneurial country.
Every investor who wants to stand firmly must understand the term known as – risk diversification. This concept helped Israel to exploit its resources for the benefit of the community.
So, what about numbers?
Israel has one startup company for every 1,800 people, which indicates that this Middle Eastern country has more ﬂedgling businesses per capita than any other country in the world.
This uplifting is not only critical for the Middle East countries, but the entire world depends on it. Israel’s economic prosperity and innovation inspires the worldly economy to continue this fairy tale story in pursuance of a better living standard for all nations.
From 2000 till present date, according to some researchers, Israel has received twice as capital investments per capita than the United States. Almost half of the Israeli population have graduated or currently are studying at different Universities.
It is evident that these statistics place Israel to the top of the most educated country in the world composed of an enormous entrepreneurial talent base.
Of course, the situation is not without problems. Despite being a prosperous nation, some parts of Israel remain rural, which is a complete opposite and contrast of the image that the entrepreneurs have created.
However, Israel has to face certain external obstacles and wars that are unfolding in those areas if It wants to maintain its current economic growth.
Key Lessons from “Start-Up Nation”
- The Arab countries are facing financial problems and over-reliance on oil
- Defying the embargo
- Look ahead of you
The Arab countries are facing financial problems and over-reliance on oil
The Arabian countries that are surrounding Israel are in desperate need to spur entrepreneurial activities and new innovative businesses. Financial experts indicate that Arab nations must sustain political and economic stability In the region.
For that purpose the Arabs would need an approximately 80 million new jobs open by 2020 – Arab countries have to realize the fact the almost 70% of their population Is younger than 25 so it is an imperative to fulfill this expectation.
Some conservative Arab countries must handle many complexed internal problems related to – human rights, reliance on oil, political expression, democracy issues, religious restrictions and so on.
Defying the embargo
Back in 1956 when Soviet Satellite Sputnik surprisingly entered into a space race with the United States, a domino effect was produced. Twelve years later France was forced to place an arms embargo which somehow provoked Israel to become self-sufficient when it comes to weaponry.
The strength of Israel was apparent since no other smaller nation had not even tried to manufacture sophisticated artillery and weapons.
Look ahead of you
Sometimes even Immigration has a positive influence on country’s economy. Israel’s primary source of financial strength was the entrepreneurial base composed of immigration activities, which immediately boosted the country’s population from less than a million people to astonishing 7.1 million residents.
In the late 20th century around 800,000 people migrated to Israel as a consequence of the Soviet Union breakup. The economic miracle that continues today in Israel is a result of smart decisions, rational system, and safe investments.
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“Start-Up Nation” QuotesDov Frohman, the founder of Intel Israel, later said that to create a true culture of innovation, fear of loss often proves more powerful than the hope of gain. Click To Tweet A 2006 Harvard University study shows that entrepreneurs who have failed in their previous enterprise have an almost one-in-five chance of success in their next start-up. Click To Tweet A reform happens when you change the policy of the government; a revolution happens when you change the mind-set of a country. Click To Tweet You rarely see people talk behind anybody’s back in Israeli companies. You always know where you stand with everyone. It does cut back on the time wasted on bullshit. Click To Tweet It is a story not just of talent but of tenacity, of insatiable questioning of authority, of determined informality, combined with a unique attitude toward failure, teamwork, mission, risk, and cross-disciplinary creativity. Click To Tweet
Our Critical Review
Dan and Saul clarify Middle East economy, their systems, and entrepreneurs who overcame difficult challenges and examines how a country can distance itself from external influence and be a part of a more balanced and global business climate. This book offers its readers a well-informed text with useful lessons and information about managing national interests and companies’ competitiveness in the digital era.