Friday, June 29, 2012

Google's Chairman, Eric Schmidt, is betting on Israel

Ambassador (ret.) Yoram Ettinger, "Second Thought”

Straight from the Jerusalem Boardroom #164; June 29, 2012

1. Eric Schmidt, Executive Chairman and former CEO of Google: For a small country, Israel will have an oversized impact on the evolution of the next stage of the technology we all use…. We should expect much more investment in high technology in Israel, and many more startups as the next generation of the Internet unfolds.... Israel has become a high tech hub. Google has a large engineering and sales operation in Israel, whose achievements are definitely world-class…. Four things are clear about Israel as a high tech, innovation engine… its commitment to universities and science... its universal military service which is integral to this process... its technology which benefits greatly from the Internet... and its security situation may actually help as Israelis take more risks in business than other countries would…. (Haaretz, June 26, 2012).”

2. "Google Chairman Eric Schmidt says the company's development centers in Israel are among Google's most efficient offices in the world. Schmidt also noted that investments in Israeli start-ups are highly beneficial. Speaking at a Tel Aviv conference, Schmidt praised Israeli engineers, the country's higher education system and the training acquired in the military. Schmidt said that the secret of innovation is trying new things. Schmidt hopes to expand his investments in Israel. 'There are no disadvantages to investing in Israel – just advantages…. Israel has the most important high-tech center in the world after the US, he said (Israel 21C, June 19, 2012)'”

3. Chairman and outgoing CEO of Google, Eric Schmidt, is betting on Israeli companies. In the past year, his new tech-focused venture capital fund, Innovation Endeavors LLC, has invested in eight companies, four of which are Israeli. Schmidt believes in Israeli brainpower and technologies, some of which could have become leading Google products in another incarnation…. Innovation Endeavors LLC, which manages investments in start-ups out of the capital of former Google CEO Eric Schmidt, is expanding its Israeli operations. (Israel Strategist, June 20, 2011, Globes Business Daily, June 15, 2011 and May 16, 2011).

4. Eric Schmidt's blog: "Google's development centers in Israel are among the company's most efficient…. Israel felt very peaceful, and very much like the Silicon Valley…. Google's Israeli engineering and sales teams' achievements are definitely world-class…. "The military service helps Israelis become more focused, better trained and more organized…. The country's recent push in cyber intelligence will result in many new network security startups, in particular…. We should expect much more investment in high technology in Israel, and many more startups as the next generation of the Internet unfolds…. Many countries want to replicate the phenomenal success of Silicon Valley. Israel is one example of what it takes (Insider, Part of the Next Web Family, June 26, 2012).”

5. Eric Schmidt: "The decision to invest in Israel was one of the best that Google has ever made…. Israeli engineers are developing things, in Israel, that are being used all over the world…. Israeli high-tech workers are more mature, independent and organized in comparison to other workers…. Israel is a start-up nation (Israel Hayom, June 20, 2012).”

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