Large corporations are increasing their efforts to find innovative and disruptive technologies in the world’s most relevant technology hotspots, and through this search, they are branching out to locations with tight innovation ecosystems to engage with technology and talent. Silicon Valley and Israel are the most obvious innovation destinations.
European companies from across industries have been operating in Israel for decades, mostly through an R&D approach. During the last 3 years we have seen a strong shift towards a leaner approach and the use of open innovation mechanisms. More companies are increasingly experimenting with different partnership models, making innovation costs variable and on-demand. This trend is similar to what we have been observing since 2010 in Silicon Valley.
We have tracked 41 large European companies that have an innovation corporate outpost in Israel. Despite the relative geographical proximity, the European presence in Israel is not yet at the level of Silicon Valley with over 60 corporates. However, the gap is narrowing: nearly half of the outposts were founded in the last 3 years.
This report represents our effort to map these activities by European corporations in Israel by tracking their presence and observing how they increase, modify and diversify their activity. The ultimate goal is to provide benchmarks to corporate players that are considering scouting innovation and technology in the Startup Nation in a more structured way.
Alberto Onetti, Chairman, Mind the Bridge
Marco Marinucci, CEO, Mind the Bridge