Entrepreneurial Youth in Private Sector

The role of young people and entrepreneurship in Israel’s private and research sectors

India’s biggest hub is code-writing. Israel’s biggest hub is start-up companies and entrepreneurship.

Phenomena of Entrepreneurship in Israel
- Israel is tolerant to failure
- People care about “The Cause”
When ICQ was sold to AOL, the transition and adoption of the product was very important to Vardi
- Supportive domestic competition
When an Israeli company competed with ICQ and offered service that ICQ did not offer, ICQ referred customers to the Israeli company.
- International community support
- Government assists with start-up companies (Chief Scientist)

3 step program to become a millionaire:
1. Rise Early
2. Work Hard
3. Strike Oil

Before approaching VC, you must try to run the program on your own.
Then, once your concept is developed, then you can legitimately approach a VC.

Export Institute – Israeli export assistance
SMB assistance not well developed.

Coming from a revolutionist upbringing, Vardi believed socialism and government was the enemy. Most say those that start as a socialist don’t have a heart, and those that remain a socialist don’t have a brain. He was the opposite. Vardi now believes the government has its place with free markets, but through personal experience believes that if there was truly social justice, we would have discovered it at some point over the past 3000 years.