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Report: Israel's high-tech industry mired in adolescence

By JPOST.COM STAFF

AUGUST 26, 2010 18:59

While Israel boasts the most high-tech start ups per capita in the world, its high-tech industry remains mired in adolescence, as successful companies are generally acquired by larger, foreign corporations rather than remaining in Israel to grow to maturity, the Wall Street Journal report Thursday.

An absence of later-stage funding for companies, as well as a lack of local management skills contribute to the problem, according to analysts and CEO's of high-tech companies, but an Israeli mentality toward short-term thinking is a big factor as well.

"Israelis act before they plan because you can never know what will happen tomorrow," said Ori Hadomi, CEO of Mazor Surgical Technologies. Mazor's spoke the day after recent clashes on the Lebanon border caused the death of one Israeli and three Lebanese soldiers.

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