Universities: the Driving Force of Economic Development. The Technion Story

Israel is often referred to as the “start-up nation” for good reason. With a population of just eight million people, it has more companies listed on the NASDAQ than any country in the world apart from the United States and China. Often cited as one of the world’s most vibrant innovation hubs, Israel boasts more start-ups per capita than any other country. It is also a world leader in terms of research and development spending as a percentage of its economy. Yet how did Israel become a hotbed for start-ups? Aside from government initiatives supporting industrial research and development, the Technion - Israel institute of Technology has played a major role in fostering the innovation and entrepreneurship ecosystem in Israel with graduates a driving force behind its flourishing high-tech industry. Since 1995, Technion graduates have founded or run more than 2,000 companies that created - in Israel alone - 100,000 jobs and brought $30 billion through mergers and acquisitions. During the presentation, Peretz Lavie, President of Technion - Israel Institute of Technology will chart the rise of how Israel became a leading force in innovation and entrepreneurship and the contribution of the Technion in achieving this unparalleled position.