Why the incubators in Israel are so successful?
The reason of Israel as a whole, became one of the most succesful countries in developing new technologies is due to the excellent education that people are getting in the universities, in the technion, in the Weitzman intitute for reaserch and of course I have to mention that I do believe that we have one of the best schools in the world and this is our army; because when youngsters are joinning to the army they’re encountered with the technology, they’re encountered with new systems that they have to operate but they’re part also of the development of new systems. So when they’re going out of the army, after they develop military systems, military technologies they are converting it in a civilian technology. So if you take, for example a checkpoint. Checkpoint is a company that is known around the world and people don’t believe that it came from Israel; because this is the leading company in the world in data protection. The 3 guys who invented this company were in the army, in the same unit, in intelligence; and they were developing encription systems for the army, they have the background of mathematics an physics and after five years when they left the army they were thinking “what we can do with this knowledge that we accumulated?” and they develop the first encription system in the world and they are the leaders in the world and they are so succesful that in the good days in the year 2000 the value of the company was 30 billion dollars. 3 youngsters at the age of 28. Each of them today have more than a half a billion in the pocket, in the bank and still the value of the company for each one is more than a billion. The profit that they accumulate in the company profit is nearly 2 billion dollars, that profit. So the story of successful companies came from the excellent education. And people in this country and why you are a new citizen you’ll learn it, is a unique culture. The stress that you’re living here, the responsability of each one for whatever is doing is so high that you need a lot of creativity and imagination and if you are directing it to the right direction. Because you have a good idea you will be successful.
Aproximately how many people work in one incubator?
In the same time, it is limited to two years. You can’t stand more than two years in an incubator, you have a wold say about 500 to 2000 people.
Which profile needs a person who works in the incubator?
General speaking, it must have academic background. And some experience in the industry. And the background should be in mathematics, physics, computer science, electronics, etc.
How to handle intellectual property of the projects?
First of all we have today special law officers that are expertise to register patent. So every tecnology is protected by patent. One or maybe sometimes ten. And this is the best way to protect your IP, we call it IP.
Who finance the projects in the incubator?
In the incubator, the money is comming from the chief scientists or the ministry of industry and trade. Other part comes from the owners of the project. So if you get 300000 from the government, 60000 (20%) is coming from the guys who are initializing the project. But they can get it from the parents, from the bank or from an angel, but they have to bring 20%. Today the incubators are after privatization so benchor capital of different investment companies both are in incubators. And today most important investors but usually it is matching money that comes from the chief scientists
Who brings more projects for the incubators, schools, universities or reaserch institutes?
The incubators are occupied by people with technological dreams, they’re coming from every area. They can came from the university, from the hospital, they have a medical idea, they can come from a bank if the people are thinking how to do something that will bring a new generation to a bank.