"There are four continual growth areas that people are interested in: video, because the world is becoming more visual; green tech because we're growing more concerned about our environment; med tech, because people want to live longer and healthier; and content, especially in real time communications," he told ISRAEL21c.
Less dumb money, more smart investment
He also said he was not concerned about the downturn in the economy. "Israel is one of the hotbeds of the world when it comes to new technology," he said. He also noted that the economy has ensured there is less 'dumb money' - people simply looking to catch the wave of the next big thing, but don't know what they are doing and more 'smart money' - serious, qualified investors who know what to look for.
Fiona Possell, the founder and president of Produce Communications in Santa Monica, came to the conference to learn about the ongoing relationships between Israel and California. "I'm always looking for innovative companies," she said, adding that she had just discovered that Born Free (a natural baby products company) is an Israeli company. "My long term view is to work with some Israeli companies and help them in the US market with their marketing and communications strategies."
But perhaps the best advice came from Bob Rosenschein who pioneered Answers.com, which today is a business employing 73 people in Jerusalem and New York and is currently turning a $13 million profit.
"In this challenging economic climate, persistence matters," he said, before revealing his favorite quote from Dale Carnegie: 'The most important things in the world were accomplished by people who kept on trying when there seemed no hope at all.'
"Be persistent," he concluded. "Be optimistic. Hope and build."
Below photo: Bob Rosenschein
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