Even the most ardent advocates of Israel as the leading startup nation in the world are impressed with the speed, agility and increasing quality of China innovation today as this leading economic power moves from a manufacturing base to what could be the world’s tech tower within 10 years. If this pattern of entrepreneurship and investment continues, the next, new thing could very well come from China and be more original than any new VR or software play from Silicon Valley.
So said Avishai Silvershatz, a managing partner at Israeli-China private equity group Infinity Capital and Yoav Chelouche, managing partner of Aviv Venture Capital. Many of their fellow speakers at a recent Silicon Dragon forum in Tel Aviv agreed. See video of Silicon Dragon Dealmakers in Israel. Chelouche emphasized that China could become a leader in core science, which would unlock many sectors within tech. This perhaps is not too startling considering that China is the inventor of paper, the compass, gunpowder and much else, and with a long entrepreneurial culture. But it does speak volumes about how fast China is progressing today.