The Pears Innovation and International Development Program at Tel Aviv University aims to make Israel the center of innovation and technological solutions for the developing world.
Israel has one of the world’s highest per capita high-tech start-up and venture capital industries. An overwhelming percent of these actors define developed regions such as Europe and the U.S as their target markets while overlooking opportunities in the developing world. Many are unaware of the fact that while 3.7 billion people worldwide live on less than $3 a day, this market currently represents an estimated $5 trillion in purchasing power. The markets at the bottom of the pyramid (BoP) present a tremendous opportunity. After all, over the past decade, six of the ten fastest growing economies in the world were in Africa and growth rates in Asia, Africa and Latin America are expected to far outstrip that of OECD countries in the foreseeable future. Given Israel’s expertise, and first-hand experience facing challenges in fields such as health, agriculture, water, alternative energy and ICT, we believe the country has massive potential to become a primary player in developing world innovations that can bring both a financial return and create significant social impact.