b-to-v Newsletter Juni 2010June 29, 2010
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b-to-v at the annual conference of the High Tech Industry Association IsraelJune 8, 2010
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The b-to-v investors circle is in Israel for the second time after having learned to know the country through different angles in 2009. Two investments have been made by b-to-v in Israel since, one of them being Cellera, a promising fuel cell company.
What we experience here today at the annual conference of the High Tech Industry Association is amazing: The VC industry, the well established big companies like Audi, Microsoft, Goldman Sachs and politics are joining forces in order to give entrepreneurship a strong push forward. Some interesting things we have heard and observed:
- Again: Israeli entrepreneurs seem to be more “hungry” for success than European ones. Lots of them being very structured, focused and leadership-experienced army officers.
- Israeli VC Funds have raised more capital than the all Western European VCs combined.
- The VC scene has started a great initiative to develop wealth in the Arab part of the country with its different initiatives like the VC Fund Al-Bawader (this working session for example has been been moderated by Chemi Peres, including a key note of Avishay Braverman, Minister of Minority Affairs).
- The number of entrepreneurial politicians seems extremely high (the prime minister, three minsters and the major of Jerusalem, a very successful entrepreneur himself, are actively involved in the conference, have a clear view on what they say and deliver immediate action on site – we have never seen that in Europe till now).
- Israel is attracting VCs from all over the world – including our dear friend Gavin Ni whom we were privileged to get to know at our first trip to China in 2007.
First conclusion: This Jerusalem conference may become the “Davos of Venture Capital”. Let us think about it loudly in the VC industry.
And with all that: Congratulation to Lars Hinrichs for your great new venture HackFwd (@ Facebook) and we wish you all the very best for it! Looking forward forging great companies with you – jointly with great people from all over the world.