Who is Doing Business in Jerusalem?

 

Doing business probably isn’t the first thing that comes to mind when you hear the name Jerusalem. On the contrary, unless you are a travel agent or own a souvenir shop, doing business and Jerusalem are not likely to appear in the same sentence.

Like most, you probably associate Jerusalem with sacredness and history. The image of an ancient city of gold, withstanding endless wars and being home to the largest religious faiths arises in your mind. Everybody in the world has heard of this remarkable city, millions of tourists visit each year, for many Jerusalem even implies salvation.

 

But Jerusalem has a few surprises for you in store. Some were revealed at a conference titled “Doing Business in Jerusalem” that was held this August by the JBNF - Jerusalem Business Networking Forum - at the International Convention Center in Jerusalem.

 

Are these the business people?

 

The conference was part of ‘The Event’, a large Expo for newcomers to Israel. The premises looked more like a colorful marketplace with lots of booths and entire families roaming around curiously. ‘Entire families’ in Jerusalem means an average of 4 children, at least one stroller and sometimes grandparents included as well. The primary languages spoken were English, French and Russian. Hebrew speakers were usually struggling with their foreign accents.

Having lived in Israel for over 30 years I felt somewhat misplaced till I reached the large auditorium in which the JBNF conference was held.

 

 

3000 Years of Innovation

 

The first thing that impressed me was the number of speakers and panelists that were scheduled to appear. The second was their variety. 7 hours were packed with young entrepreneurs, motivated investors, high-tech veterans, start-up gurus, government reps, bankers, insurance people, non-profits and a mindful audience.

 

And all Jerusalemites. Some newcomers, some well-settled and some native, but all with the same desire to boost business in Jerusalem.

I learned that 10% of all start-up activity in Israel is located in Jerusalem and over 250 companies were “born” in Jerusalem. Among them are familiar names you may have heard, such as Mobileye, Teva, BrightSource Energy, Ophir Optronics, and ViewBix. Some of the most successful high-tech companies have their R&D centers right here in the holy city of gold and innovation: Intel, IBM, Siemens, RadWare, Ness, NDS(Cisco). If you are a Jerusalemite yourself, this is not such a big deal. However the extend to which this activity is encouraged by the authorities and boosted by private investors is remarkable. The variety of opportunities that allow people to pursue their ideas and give their support is inspiring.

 

One way to support and drive innovation to industry is by funding. The municipality has an entire department dealing with business development and promotion. Most funding, however comes from private venture groups who literally seek out the next big thing in Jerusalem. One of the pioneers in explicitly driving Jerusalem’s start-up scene to success is the JVP – Jerusalem Venture Partners, founded by today’s MK Erel Margelit in 1993. Not only that, in recognizing the hidden potential under the cities burden of an image with tremendous religious overweight the JVP fosters modern cultural activities and other initiatives that contribute to the modern quality of Jerusalem. The JVP's premises house a number of start-up companies as well as the popular music-club Zappa staging musicians, comedians and other artists. 

 

Incubators for Start-Ups and Playgrounds for Innovators

 

A similar venture is Terra. The fund focuses on cleantech start-up ideas. These are taken straight from the drawing board, carefully chosen by experts and then cultivated in the ventures ‘technology incubator’. The Terralab, just like JVP provides space, equipment and guidance for the selected entrepreneurs to turn their ideas into technologies and products. Among the mind-blowing ideas they are currently pursuing are a company developing an app to help you find parking space quickly in order to reduce air-pollution in crowded cities and another company developing a bracelet for your elderly parents, which will transfer vital information about their health and routine to you if you are living far and/or relevant care giving facilities near by.

 

Fascinating to me are the various hubs offering space and opportunity for starting entrepreneurs to come together and ‘play’. Some of these hubs are simply co-working spaces - office space made available for your first start-up activity, also enabling you to network with likeminded innovators. Some of them, like SifTech, Presentense and Jerusalem StartupHub offer training, organize meetings for interest groups or computer geek activities and other workshops. Pico also invites local artists to display heir work. And then there are those who go even a step further and actually offer machinery and hands-on opportunity for you to try and materialize your ideas. JerusaLab is one such promising playground, where you can build the first prototype of your newly invented product.

 

It feels like these hubs are springing up out of nowhere, conquering some of the run-down industrial areas of the city. These young people spoke with such enthusiasm, that I felt like hopping over immediately to check out each one of these places. Maybe I would be inspired and find my own innovative opportunity or I would simply be amazed by the exciting ideas and people I would meet in Jerusalem’s start-up hubs.

 

Making it to the Top

 

You can find information on all of the companies, accelerators, investors and hubs with MadeinJLEM, an organization, whose aim it is to place the city at the top when it comes to entrepreneurship.

 

In the highlight of the JBNF conference, the top 5 Jerusalem start-ups in 2014 received a special entrepreneurship award presented by Deputy Mayer Ofer Berkovitch. Each company is active in a different branch and each had their own very exciting innovation and concept.

Brainsway Ltd. – Advanced, non-invasive technology solutions for the treatment of brain disorders.

Revelator Ltd. – Provides management and monetization solutions for digital content for the music industry.

Freightos – Creating the world’s first automated online freight network.

Glide – The world’s first and only instant video messenger.

Abe’s Market – The online marketplace for great natural products, connects buyers seeking amazing natural products with the people who make them.

There are already a lot of people doing business in Jerusalem and there will be a lot more in the near future. The next time you read about Jerusalem it may just be about technology and high-tech and promising profitable business.