Australia’s Assistant Minister for Innovation Wyatt Roy is currently touring Israel, trying to unearth secrets of the country’s “startup miracle”.
There is a lot to learn from. Israel has one of the world’s highest concentrations of startups in the world and is a global leader in research and development.
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This World Bank chart shows the amount spent on research and development as a percentage of GDP. Israel is at 4%, around double the global average. The latest data for Australia showed a research spend of 2.4% of GDP.
Israeli research is so vaunted, that a study conducted by the city of Tel Aviv shows there are more than 298 “foreign research and development” centres in Israel, collectively employing more than 58, 000 people.
Read the full story at Business Insider Australia, by Josh Nicholas
