Shalom Life | July 01, 2014

Google Chairman Believes Tel Aviv is the Next Silicon Valley

Eric Schmidt was visiting Israel on Monday to inaugurate the Innovation Endeavours incubator and venture capital fund in which he is a founding partner.

By: Shaleni McBain

Published: June 19th, 2014 in Business » Israel

Google Chairman Believes Tel Aviv is the Next Silicon Valley

Google Inc. Chairman, Eric Schmidt, told Israeli entrepreneurs that Tel Aviv is a close second to Silicon Valley.

“It is hard to see such things elsewhere in the world outside Silicon Valley,” Schmidt said. “Nowhere in the world is comparable, not even Boston and New York.”

Schmidt was on his second visit to Israel when he stopped at Tel Aviv on Monday to inaugurate the Innovation Endeavours incubator and venture capital fund, where he is a founding partner.

“You should exploit the talent here and if necessary, hire an American manager to run the U.S. branch,” Schmidt said. “The Israeli CEO should stay close to the development centre, because that is the most important thing.”

Israeli business daily Globes reported that the advice Schmidt offered was different from what Israeli start-up entrepreneurs have been told.

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