As part of our initiative to put the spotlight on startups in Korea and beyond, the Startup Radar Team recently traveled to Israel where we were fortunate enough to meet some of the countries most innovative startups. The Spotlight on Israel series will focus on the most promising talent we met. As well as this, we want to share some of the lessons that we learned from these businesses for you to use in your startup strategy. Therefore, this episode of ‘From Seoul to Tel Aviv’, will feature some of the most innovative startups in Israel, the Tel Aviv blockchain ecosystem and Blockchain startups in Israel, and how to bridge the connections.
Coworking Space in Tel Aviv
Gone are the days when all there is to work, a posh office setting, with desks, table-top computers with tower monitors, a stack of paper files and stationery littered all over the office space. Coworking spaces was a non-existing phenomenon over a decade ago. But, with the way the traditional workplace is gradually evolving, Coworking spaces have become a commonplace.
Furthermore, it is estimated that there are over 20,000 dedicated coworking places available worldwide. The model of shared offices and coworking has defined the way startups operate in the 21st century. This is because it’s less expensive, convenient and fosters creativity. Israel is the only country in the world with the highest startup per capita. That is why it’s considered a startup nation.
Tel Aviv startup ecosystem has a cluster of coworking spaces that has produced some of the unicorns we see around today. For techies, digital nomads, students, and creatives, coworking spaces are an ideal getaway to turn their ideas into reality. Coworking spaces create community, allows for immense collaboration among teams and cut waste of resources. This proves that coworking spaces are going to experience rapid growth in the coming years, with sophisticated designs and amenities for its patrons.
When it comes to Coworking spaces, Seoul and Israel have a lot of similarities. First, it was coffee shops that provided Free Wifi for attendants. Seoul is now filled with a good deal of coworking spaces; of which some are entirely free with others less expensive. Tel Aviv is no different. There is WeWork fully represented and expanding in both cities. The presence of Google Campus in both countries also gives leverage to early-stage entrepreneurs to access a space for creating something.
Ayeka is one of the most vibrant coworking spaces located in the pulsating urban greater area of Tel Aviv. It is a members’ only space designed for startups, entrepreneurs, freelancers, creatives, and artists. additionally, patrons can either opt for suites sizes, shared desks, and studios. Other facilities offered occupants are; pool, patio, showers, screening rooms, broadcasting studios, library, meetings rooms and parking.
At AYEKA, they provide a productive environment and combines business with social engagement. This allows a healthy community for people to interact and engage in business. One blockchain company that seems to be thriving in AYEKA is Zen Protocol.
Zen Protocol is a new type of blockchain, written from scratch in F#, with a contracting language in F#. The design integrates the efficiencies of Bitcoin and the UTXO model, with the programmability of Ethereum and the EVM model.
Also, Zen Protocol is focused on creating a platform that will enable
people to secure their assets, without needing trusted custodians. Applications on Zen Protocol can scale further than ever before. Advanced security techniques like formal verification are made natural with their sophisticated tools. By not needing to account for gas there is no need for a VM, smart contracts can be compiled and processed in parallel – resulting in lower costs for the end users.
We met up with Adam Perlow, the CEO at Zen Protocol Development and Elan Perach the Head of Product & Community at Zen Protocol Development. They stressed to us how important the Asia market was, as well as, getting into the Korean market.
We believe that Korean Blockchain companies that are creating assets and derivatives can leverage on ZEN protocol’s technology.