Israeli economic expert Daniel Blumenthal spoke on campus Thursday about entrepreneurial opportunities in Israel and their connection with U.S. businesses.
About 20 students attended the event organized by the Israel Business Club and assisted by entrepreneurial organization EPIC.
Blumenthal (Weinberg ’10), deputy director of the Government of Israel Economic Mission to the Midwest, used his time to express “the exciting features of Israel’s economy.” He spoke about the quick transition Israel underwent from an agricultural to a technological haven.
Through the speech, Blumenthal mentioned many well-known companies, such as IBM, Google, Intel and Microsoft, that all have a presence in Israel, as well as some of the areas that the state “shines” entrepreneurially.
One of these areas includes Israel’s ability to survey large groups of people in order to understand better what people are interested in based on a crowd’s responses, Blumenthal said.
“The knowledge of any crowd is just as valuable as the knowledge of the greatest experts in the world,” he said.
Blumenthal also discussed Israel’s agricultural advances, particularly in the fields of water recycling and drip irrigation, which he said have the potential to transform agricultural systems.
“While this is great, Israeli companies have one huge challenge,” Blumenthal said. “There is no market in Israel for all of the technology they’re making. We have to work to help make Israeli businesses successful.”
His office is currently working with those in the Midwest, particularly in the Chicago area, to help foster relationships with Israeli businesses and entrepreneurs in hopes of supporting Israel’s technological industries, Blumenthal said.
Israel Business Club co-founder Jonathan Gordon said the group planned the event to attract those who want to have a connection with Israel but are not necessarily looking to do so on a political or religious basis.
“We’re looking for students interested in business and entrepreneurship and have a passion for Israel,” the Weinberg junior said.
The club plans to hold an information session within the next couple of weeks, in addition to other events about the basics of international business and entrepreneurship in the near future, Gordon said.
“There are a multitude of business opportunities in Israel, and we want to increase the awareness about Israeli projects,” Gordon said. “We know there’s a good constituency of students interested in Israel, and we want to give them a new lens in which to consider the country.”
Weinberg junior Julie Lee said she had an interest in working in Israel and attended the club’s event to gain more information about business in that area.
“I had been more drawn to the event because of the club’s focus on Israel,” Lee said. “But now that I know about the many startup opportunities, I’m more interested in the economic side of Israel.”
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