Israel, the ‘start up nation’; it is phrase so often repeated that it almost loses its significance. So it was refreshing to read about three pieces of news this week, which illustrate just how dynamic the Israeli economy remains.

1. We learnt that the Chinese government is setting up the first of three funds, which together will have a value of more than US$1 billion in capitalisation. They will focus on investing in Israeli high-tech.
2. Peter Thiel, the initial investor in Facebook, returned to the Holy Land. His keynote talk covered a wide range of subjects, in particular stressing the need not to imitate the Zuckerbergs and Gates of the world. What I found interesting is his analysis of what sets Israel apart from the USA. The country’s learning structure ensures that students can mix fields of education if they wish. This approach encourages and enhances entrepreneurship.
3. Moving further afield, the newspaper “The Calcalist”, translated as “The Economist”, has begun to advertise its next conference in London. Headlined “The next game-changers”, it will consider how industries are transformed. And this is at the essence of what Israeli innovation has been about for the past three decades.

I am reminded of a story told by an Israeli, who is VP in sales in a multi-national. He explained how as a naval officer, he was sent on a course to a British academy. One Sunday evening, the participants were given some time off and they all huddled into a small TV room, which was tuned to a boring wildlife programme. ‘All’ in the sense of all bar the story teller and another Israeli. They simply showed some initiative, snuck out, went next door to another room, and sat in quiet comfort watching something they opted to choose.

Everything seemed fine, when in burst a senior British commander. The gents from Israel began to smell a strong punishment in the offering. However, the local officer burst into a broad smile, and said: “Now I know how you Israelis always win your wars”.