Spotify has revealed the top streamed tracks and artists for 2020 in South Africa, giving us an interesting glimpse into our tonal tastes locally….
Mind-set, connectedness and government support are everything when it comes to building and sustaining a far reaching tech culture set to breed innovations across the globe.
If it is a key imperative for tech businesses to replicate their business models and product innovations on an international scale, some key insights and lessons can be learnt from Israel, dubbed ‘the start-up nation’ who has successfully built an intimate tech culture and community with a far reaching global impact.
Everyone in the tech world in Israel is connected. They talk, they engage and they discuss – it is essentially one big community working together. With 150 000 people in the Israeli tech industry, everyone seems to know each other and each person is as easily accessible as the next. Connecting face-to-face has proven to be the best way to build long-term contacts, with the aim of nurturing and growing mutually beneficial opportunities. Once the connection has been made, then sustaining the relationship through virtual communication is an efficient and effective way of doing business across continents.
South Africa has a way to go in achieving this type of community cohesiveness, making influential networks a valuable platform to encourage collaboration, knowledge-sharing and a real sense of growth and value from being a part of an intelligently connected tech network.
Israelis seem to be in a different headspace when they enter the workforce, compared to other nationalities. After serving in the army, they generally take a gap year before embarking on a working career path. As a result, they have a more mature perspective and mind-set. They know what they want and are confident and resourceful – all essential qualities for a start-up nation mentality.
Being focused on big picture thinking, Israeli tech entrepreneurs generally see the world as a small place and are motivated to jump on a plane in order to make things happen in other countries. An example of a successful business model stems from the strategic thinking behind many tech innovations originating in Israel and setting up the development, sales and marketing side of things in other countries. This process of localising Israeli tech innovations within other countries requires a big mind-set and small view of the world! These business owners travel intensively in order to do whatever it takes to start up and replicate their business models and tech innovations in other countries.
3. Government support
Research has indicated that governments who proactively support and fund tech accelerators and incubators, achieve a positive impact on the economy. Israel’s government consistently injects funding into the ‘right’ tech initiatives as they understand that by directing funds in a focussed manner, will result in the successes of such initiatives having a snowball effect; ultimately sustaining themselves and having a positive impact on the economy.
Entrepreneur Traction has identified a gap between the South African government and local tech entrepreneurs. Whilst our government are very actively involved with funding entrepreneurs and start-up ventures in general – we believe that there is a lack of understanding the substantial growth potential and opportunities in the local tech start-up space. By showcasing high tech and high growth business opportunities together with smart, promising tech entrepreneurs to local government, we are confident that this will contribute towards closing the gap.
There is no magic formula to successfully create, establish and replicate a budding tech business or innovation across the globe. Observing and learning from tech entrepreneurs and tech communities who are consistently producing successful case studies is a solid starting point. Inspiring support from government is another. But the part that tech entrepreneurs have the most control over is creating the ‘right’ mind set, often stemming from and inspired by a connected and value driven tech community culture.