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Two of Israel’s most prominent leaders in tech joined forces for a promising night of inspiration at the “Innovation on the Bar” event last month, held at the eclectic Abraham Tel Aviv Bar.
In partnership with the Israel Innovation Authority, Nir Zuk, founder and CTO of Palo Alto Networks, and Dror Bin, CEO of the Israel Innovation Authority, led a panel discussion titled “Israeli High-Tech is Shaping Tomorrow: Technology as a Force that Changes Reality.”
With their talent and experience in the tech world, they discussed why Israel has become a global hub for innovation and startups.
SHAPING ISRAEL’S FUTURE
(קרדיט: ILTV)
“Talent is what makes Israel so special,” Bin told ILTV. “When you meet with entrepreneurs, people that have ideas about new tech ventures, you just see the spark in their eyes. And if you tell them it’s impossible to do, then you just motivate them even further. I think that over the last five decades, many amazing tech companies started out here in Israel as startups and then grew into global markets. Especially in this year of war, 2024, against all odds, we saw an even more vibrant ecosystem, with more people identifying new needs and wanting to bring technological solutions to those needs.”
More than 300 people filled the room at the Abraham Tel Aviv Bar to hear the panel discuss Israel’s booming innovation ecosystem and what is needed to maintain a high level of effectiveness for startups, according to experts.
“A lot of enterprise-related innovation came out of Israel,” Zuk noted. “Traditionally, Israel has been known for creating very innovative technology but struggling to turn it into products. What we’ve seen in recent years is the ability of Israeli companies not just to innovate and create groundbreaking technologies, but also to productize them, sell them, and scale their businesses to relatively high levels.
“There is an opportunity, a proven opportunity, here to build companies worth billions of dollars that are fully developed into selling products around the world,” he said.
Both Bin and Zuk discussed the future of high-tech in Israel and how the industry can reach new levels of success.
“We now see a potentially very strong wave of deeper technologies, including artificial intelligence and quantum computing, but also many other sectors that involve not just software, but tangible products designed to solve major global challenges,” Bin said. “Think about energy, climate change, health, and transportation.”
Zuk added: “Israelis are known for believing they know better than everyone else, and it’s been very common for Israeli startups to assume they understand customer needs better than the customers themselves. That almost always turns out to be true. This is really the role of product management. The more Israeli companies become product management-driven rather than solely engineering-driven, the better and more successful they will be.”
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