- within Technology topic(s)
- in European Union
One of my favorite movies is the 1985 production White Nights starring Mikhail Baryshnikov. The setting, in Leningrad, as it was known at the time, today St Petersburg, was particularly striking due to the 'white' nights of northern locations when the sun barely sets during the summer months. I associate this with the popular nickname by which locals refer to Tel Aviv, namely, the "White City". Officially, this moniker refers to an area of buildings built during the 1930's in the white colored "Bauhaus" style. Unofficially though, the "white" associated with Tel Aviv is also connected with its being the city that never sleeps. It is a vibrant metropolis, vegan capital of the World, and home to about three quarters of Israeli startups. And when you're in Start Up Nation, that's huge!
Symbiosis
So, picture this. Another start-up venture, where the partners bring to the table their respective parts of a joint vision. Different parts, but complementary. Each part is worth something alone, but exponentially more when combined. It's a symbiotic venture, something that they've been thinking about for a while, but a lot of thought has to go into the planning and preparations before it's even possible to think about launch.
With apologies to the unicorns out there, a smart, successful entrepreneur once told me that it's better to be second in the market. You need the market to get used to the new business concept before you then come and present your own version, better than anything that's come before. At least, that's what you think, after all, it's yours and you're fully engaged, fully committed and fully invested. Just thinking about life after launch will probably bring a smile to your face.
Seed Funding
But let's talk about investors. The initial seed investors are typically the FFF's, namely, "Friends, Family and .....s". When presented with your idea, they are convinced that it's the real deal, and they'll be there for you for whatever you need. Not just the good times, but the bad times too, as they believe in you.
The Launch
The big day finally comes. The day when your venture is announced to a public made up of all of your close supporters. Friends and family, for sure. The launch event must have food, and definitely music. After all, it's a party.
A White City Wedding
The wedding that I went to last night in Tel Aviv was just one more start up launch in a city that has seen thousands of the same. Except this was like none other. It was the wedding of the son of close friends, to his sweetheart. Friends and family were there. Some of them, married couples, parents and siblings, stepped forward in turn, to bless the new couple under the traditional wedding canopy, sewn by the groom's big sister for her own wedding, years before. It was a combination of Jewish tradition with its roots extending back through the millennia, yet at the same time it was a commitment to the future of a brand new, very personal venture which, while similar to so many that have gone before, will have its own unique character, dictated by the two "entrepreneurs" of a magical evening. From the vegan cuisine (what else would you have in the vegan capital of the World, after all) to the dramatic recitation by the groom to the bride of the Beatles' song In My Life, with which the ceremony finished, this was a perfect evening in the White City, the city that never sleeps.
Start Up Nation
Israel has become known as the Start Up Nation, in which, over the years, entrepreneurs have developed technologies in a wide range of fields; pioneering solutions that have already helped many millions of people throughout the World. And the best of these are yet to come.
Podcast
The subject of entrepreneurs and startup ventures is very topical to this month's podcast, which features a discussion between our Avraham Hermon and Hanan Brand, the Vice President and head of the Startup Division of the Innovation Authority of Israel.
I appreciate that launching a new business venture is radically different than tying the knot. Nonetheless, the parallels are clear. To me, at least(!) And as an Israeli Patent Attorney, I celebrate them both!
Hanan Brand the Vice President and head of the Startup Division at the Israel Innovation Authority. He is responsible for giving grants to hundreds of early-stage Israeli startups.
Avraham and sat down with Hanan to discuss what the Innovation Authority does, how to be in the 25% that get a grant, lessons he's learned over the years, why Israeli is the startup nation and much more.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
