Why Israeli startups do well in NYC
They say if you can make it New York, you can make it anywhere. The tech scene in New York, just like its populace, is a mix of people who have come from elsewhere. Israel startups are determined to take advantage of this ecosystem as we have seen a number of them migrating to NYC. The success has been remarkable and it has set off a high demand to be in NYC. They are determined to overcome transition challenges just to be here. The Israel founders are drawn to NYC for the following reasons.
Size that creates resources
Israel is just about the size and population of New Jersey with a population of eight million in eight-thousand square miles. Israel founders are building startups at a rate that the market size is not able to accommodate. Israeli founders are exceptional at technological innovation and have a sharp entrepreneurial spirit. These founders are hungry for new markets for their innovations. NYC is diverse as a tech scene and in ethnicity. It offers the financial resources as well as management talent that are not accessible in Israel.
Israelis take after a traditional New Yorker from a cultural viewpoint. A typical New Yorker and an Israeli both function in a state of permanent restlessness. They want to make things happen and they want things done fast. As much as it takes a lot of hard work to build a business in New York, Israelis seem to be well fitted for this hurdle because they are atypical hard workers. That aside, Israelis have somewhat managed to make New York feel homely. There already exists a very ingrained community of Israeli-Americans in NYC’s metro district that offers a much-needed and priceless support network.
Like the Israelis business culture, most companies in NYC are attracted to the bottom line as opposed to sky-high valuations. So they focus on financing events and businesses rooted in realistic valuation as opposed to mere perception. This approach is striking to a more practical style that is distinctive of Israeli startup founders. Similarly, due to their focus on building a bottom line and growing revenue, they tend to attract more investors. People in New York City value revenue instead of growth.
Availability of peers, mentors, and investors
Compared to any tech scene globally, NYC has a large pool of peers, investors, and mentors. Peers drive innovation and attractiveness of the industry to investors. Since there are companies that are doing exceptionally well, Israelis are finding mentors to shape up their business approach. This has led to some of the best startups in the world being created by moving from Israel to NYC. Here are the seven hottest that are growing the fastest and will soon be the top Israeli startups in NYC.
Click here to see the top 11 startups that moved from Israel to NYC
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