In absolute terms, Switzerland has long been recognized
as the world’s most
innovative country. Of course, the criteria one picks can oddly vary
results: if you count patents per capita, Eindhoven,
domicile of Philips, is the innovation capital of the world, followed by San
Diego. Israel does not even figure on that list.
The secret to Swiss success has been reliance on
cheap and abundant capital including foreign investment, highly selected
skilled immigrants, and two world-renowned Federal Institutes of Technology (in
Zurich and Lausanne). Over 60 percent of R&D expenditures come from the
private sector. The country tops the World Economic Forum’s Global
Competitiveness Report, the EU’s Innovation
Union Scoreboard, the Global Innovation
Index, and patent
applications in Europe. But despite comparatively
very low taxes for an industrialized country, Switzerland is neither an
entrepreneurship hub – its innovation is driven by large and well-established
companies, not startups – nor is it known for easy access to venture capital or
IPOs. To an extent, it is fair to call the Swiss model of innovation establishment-driven.
As such, it is extremely successful and sustainable by any standard.
On the other hand, Israel,
a.k.a. Start-Up Nation, a.k.a. Silicon
Wadi, a country roughly the size of New Jersey, is world
champion at churning out technology at a feverish pace with far more limited
resources and infrastructure. It is also world champion in R&D
expenditures, clocking 4.3
percent of GDP, almost half of it from foreign investors. It has been
called the best country to found a startup and the worst to keep it alive. But
it is also the world’s leading model for public-private partnership in
innovation.
Take Yissum,
a technology transfer vehicle of Hebrew
University. Established 1964, it is a wholly-owned subsidiary of the
university, it accounts for almost 10,000 patents and 120 spin-offs. When a
patent is registered, the inventors / scientists take 40 percent of patent
revenue; 20 percent goes to their lab, and 40 percent to the university. This
covers one-tenth of Hebrew University’s research budget. Long-term research
cooperation exists with several multinational enterprises that established over
320 R&D centers. The downside of market orientation is equally obvious:
applied research is prioritized over foundational research, further
exacerbating its lag.
More
than 8000 startups were created in Israel in the last decade. They employ 500,000
individuals. Just in 2016, some 1,400 new companies were founded. Even though,
like everywhere else, the vast majority of startups does not survive, there are
at any given time some
6,000 operational startups. The country has no choice but to try new
things. Its domestic market is too small, and a foothold in foreign markets
requires products the consumer has not realized a need for yet.
Venture Capital finance also follows its own model
(although only $4.8
bn was raised in 2016). Terra Venture
Partners, a private business development fund, operates in an environment
Silicon Valley can only dream of: every shekel invested by the fund will be
matched with six shekels by the state.
The government’s Israel Innovation
Authority, by now an agency independent of the Ministry of Economics, funds
2,000 projects from all walks of life, with the exception of foundational and
military research. Select projects are funded with up
to 85 percent of their budget requirements, while university research with
up to 90 percent. Israel Innovation Authority recovers 35 percent of its
investments on average. If it were more, the agency would conclude that they
took insufficient risk. But if a funded company is sold abroad, it must repay three
times the amount received.
Not surprisingly, and very much based on the
factors described above, the international advantage of Switzerland lay in
health and material sciences, while Israel has become a focal point in data
sciences, alternative energy, and natural resource substitution.
The increase in betting was shortly followed by backlash from common public}, media, and government as drawback gambling habits sm카지노 became more and more widespread. According to Fields, it’s the intermittent nature of these promos that drives compulsive conduct. Do not think about gambling as a way of incomes money and solely play with money that you can afford to lose. Remain management of|in cost of|in command of} your gameplay by using Mr Green’s Predictive Tool, set your self gaming limits, take a break or self-exclude your self. For more data on our Green Gaming instruments please click here.
ReplyDelete