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Success in Israeli high-tech start-ups: critical factors and process.

Chorev, Saul; Anderson, Alistair R.

Authors

Saul Chorev

Alistair R. Anderson



Abstract

This paper develops a model of the factors deemed critical for success in high-tech new ventures in Israel. Israel presents an interesting forum, geographically distant from main markets but richly endowed with human capital, new high-tech ventures are seen as an essential element of the economy. Yet, despite its importance, high-tech is characterised by risk and challenge. Consequently, a model which draws on the experience of success and failure should be valuable. Our multi stage methodology enrolled the wisdom and experience of founders, managers and financiers of high-tech businesses to identify and categorise the importance of the factors and the role played by these factors. We found that success factors could be grouped as critical or as important. The first group categorised the idea, strategy, the core team's commitment, expertise and marketing as critical. Important factors were deemed to be management, customer relationships and research and development. The least important factors proved to be those external to the firm, the economy, politics and the general business environment. Overall the study emphasises that the attitudes and abilities of the core team are paramount. Although the model is based on the Israeli experience, many of the aspects are global. Consequently, the study may have broad applicability.

Journal Article Type Article
Publication Date Feb 28, 2006
Journal Technovation
Print ISSN 0166-4972
Electronic ISSN 1879-2383
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 26
Issue 2
Pages 162-174
Institution Citation CHOREV, S. and ANDERSON, A.R. 2006. Success in Israeli high-tech start-ups: critical factors and process. Technovation [online], 26(2), pages 162-174. Available from: https://doi.org/10.1016/j.technovation.2005.06.014
DOI https://doi.org/10.1016/j.technovation.2005.06.014
Keywords Hightech; Startup; Israel; Success factors

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