Students at the University of Houston—C.T. Bauer College of Business recently had the opportunity to learn about entrepreneurship across the globe during a visit coordinated by the Israeli consulate.
Daniel Frankenstein, JANVEST Capital Partners founder and managing partner, spoke last month to students enrolled in ENTR 3310, discussing his professional journey and the founding of JANVEST, an Israeli company which invests in technology startups within the country.
“For a relatively speaking small country that’s pretty far away, economically and from a talent perspective, Israel really taps well above its weight,” Frankenstein told students. And indeed, Israel currently boasts more startups per capita than any other nation in the world, with physical locations of more than half of Fortune 500 companies.
Frankenstein explained to students that government assistance has allowed the country’s entrepreneurship to thrive, considering that Israel gives roughly 4.5 percent of its GDP to research and development for new businesses. Also, since the country includes mandatory military service for both men and women, more than 90% of the population has been trained in vital technology.
Not only did Frankenstein help students get a better look into how other countries handle entrepreneurship, but also shared with them what his company JANVEST looks for when considering new partnerships with companies.
“The number one key determinant is people. After that, it’s ‘Are you unique, do you have intellectual property? Are you going into an existing market that I believe is sizable and do you have an advantage?’”
After the lecture, students were able to ask Frankenstein their questions and offer advice on forging their own way in the field of entrepreneurship. “I think everybody has the wiring to be an entrepreneur,” he said. “But it’s all about your mindset.”