A new generation of start-ups is emerging in Tel Aviv. It now has several high-tech hubs: Herzliya attracts international tech giants and Rothschild Boulevard is home to many young start-ups. The government jump-started the industry with funds to invest in local venture capital funds that re-channel money into new IT firms.
What’s the Big Idea?
Jewish immigration has also been key, particularly smart Russians with technological backgrounds. And compulsory military service has boosted IT entrepreneurship thanks in part to the army’s hi-tech units. One success story is Takadu, which provides smart water infrastructure monitoring, remotely detecting leaking pipes in real-time all around the world.