A recent study by google examined the impact of Israel’s renowned technology industry on the country’s overall economy. The results – shocking to many – should serve as a mind-opener to both entrepreneurs and policymakers around the globe.
Over the past couple decades Israel has emerged as a major player in the technology sector, producing many firms that have enhanced productivity around the globe. Checkpoint, Waze, NDS, and ICQ are all Israeli exports. Technological innovation has allowed the nation of under 8 million people to list a significantly disproportional number of firms on the NASDAQ – at one point the country even boasted the highest number of firms on the exchange after the United States.
Yet, as noted in the Google-funded study, despite its disproportional success in producing new technologies that seemingly should enhance efficiency, Israel ranks only 24th among the 34 members of the OECD (Organisation for Economic Co-operation and Development) in terms of productivity, way behind many countries whose technology industries seem dramatically inferior.
Read more in an article published on Forbes magazine