Transcript
The Israeli hi-tech sector in the world is continuing to be one of the most important global sources of innovation.
When we compare Israel as a region to what's going on in the world then we see probably the four and most active areas are still in the US, and Israel is the first country immediately after the US, second only to the US.

So, first of all, my biggest advice, or my first advice, if you are looking for innovation, no matter in what field, you must look at Israel. You must spend time in Israel and I believe that you'll be amazed by the amount of innovation in different areas.
Of course you'll find the IT and communication sector to be very strong, driven a lot by military innovation. But if you look at the next generation of technologies, life sciences, no doubt, as a sector, is the biggest, largest, next sector to the IT and communication.
Nevertheless I'm also involved in universities and I see what's going on in nanotechnology and I also see what's going on in clean technologies. “Clean technologies” is a very broad name and broad definition. But if you dive into this, you'll find lots of innovation in solar energy, you'll find lots innovation in water technologies, and another specific area will be green technologies of the combinations between IT and communication and resource management. So, taking software for example, to better manage water or energy. All those convergences between technologies and sectors are also very strong in Israel.

As I said, Israel continues to be one of the most important global sources of innovation and that applies to every aspect of our life. What differentiates us from others is "Hutzpa" - The ambition and the willingness to do things that some people do not believe that they can be done. Not only in terms of technology but also in terms of bridging gaps, bridging cultures, and reaching out and competing with the greatest minds and the greatest enterprises in the world.
In many cases we invested in companies, businesses did not go well as expected. In many other areas in the world most likely these companies have been closed down but here in Israel you will find entrepreneurs that are so committed they will reinvent the company, they will not let go and in many cases we saw great successful stories that had that not been given the opportunity to prove the 2nd time that they can do it they would end up as a write off.

So, commitment, daring, willingness to do anything that it takes is
the main driver. And add to that of course, innovation and thinking out of the box.

I think that makes the Israeli entrepreneur very unique. Some people question the business model of venture capital. Does it work? Can we make money on investing in innovation? Lots of people have left the innovation sector and my answer and my great belief is that the world is only becoming more and more technology oriented.
New technologies will continue to emerge on an accelerated rate.
I think the stock markets will be there again. Everything is cyclic in our world and I believe that we haven't seen the best of Israeli technology, we're just at the beginning, I'm a strong believer that the area we need to invest in is early stage. Deep technologies, high growth potential, addressing new markets and global markets.

There are more people consuming technology today, all of technologies becoming more important in our lives, this is the best time now to invest. Valuations are low, Israel is very entrepreneurial, lots of opportunities, great flow today. And I think that those who are investing today will harvest their profits in the near and long term.