| | JULY 2022 9Startups have demonstrated their ability to partner with Governments in providing essential digital know-how and productsworld changing innovation and deep tech that will cure cancer, solve world hunger, and provide unlimited energy. Over the last decade, investments in proven business models has skyrocketed while unproven technologies have had less attention. Especially in Europe, I see a lack of "brave capital" that doesn't follow the beaten path. Coincidentally, I believe Europe has great research and technological talent, however, they aren't given the same opportunities as those in markets such as the US or Israel. Despite the many strides of entrepreneurship globally, the need for new technologies and solutions to drive societal changes has never been more pertinent.Climate Tech: This isn't just a category for companies, but it should remind all startups of their obligation to save resources and build sustainable companies. It doesn't mean every company is a climate tech company, it means every company should have this as the building block of their business.Data privacy to scale AI: We are in a very transparent world today and governments are reacting to the power and data big tech has accumulated on most people in the western world. This creates opportunity, but also a need to find ways to train AI inclusively and openly with data that is created synthetically instead of leveraging private data with or without the consent of the people in question. This might sound self-righteous; however, I believe there is a big opportunity in developing algorithms and AI that can scale in a non-linear way. In terms of best practices for starting a business today, I don't think that changed too much over time. Find the most talented people to work with, identify an industry and a problem that you are passionate about and find customers that are willing to pay for it. On a more tactical level, I would always recommend businesses to apply focus on the things that work well and run focused experiments constantly in areas that are not clear yet with a fixed scope, time, and understanding of what success looks like. Rather than advice, I like to share attributes that I have seen in successful founders that I enjoyed working with: Self-awareness, understanding of what you know and who can help in areas you don't know, working hard but planning breaks and not taking no as an answer. Fintech and Insurtech startups represent 17% of Israeli unicorns and publicly traded companies
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