Y. Benjamin released its third Startup Snapshot in May of 2021 from its survey of over 200 Israeli startups involved and their early stage funding rounds. Founded by Yael Benjamin, they are a team of strategy consultants and graphic designers with their fingers on the pulse of the Israeli startup ecosystem. Their surveys tap into who’s doing what, how they’re doing it, why, and more. You can access the survey at the Startup Snapshot site.
Please note that PerceptionBox has no affiliation with Y. Benjamin or Startup Snapshot. We do, however, regularly read their surveys for valuable insights into Israel’s startup ecosystem.
In the third edition, they track how startups are fairing with investors and how Covid and things like a stronger shekel are impacting startups and funding.
Key Findings:
- More Israeli startups are closing their funding rounds faster as a result of COVID.
- Winning funding increasingly depends on teleconferencing (i.e. Zoom).
- Investors are seeking more control.
- Israeli companies are outsourcing more – mainly Ukraine, Poland, and India.
- A larger portion of company teams are outsourced.
- In-house employees are becoming more like project managers.
- In-house employees are filling the role of project managers
Distributed work environments, particularly for software developers, have been around to some extent since the dial-up modem. Broadband, mobile, and the gig economy have all helped telecommuting pick up steam. Covid accelerated developer interest in wanting to regularly work from home by at least a decade. Just one of many, the FlexJob survey showing most (2 out of 3) want to continue telecommuting even after the pandemic is over.
This impacts planning for startups and large businesses alike. Another survey by Conference Board of over 230 HR executives indicates nearly 80% will let their employees work from home 3+ days per week after the pandemic, compared to just 26% who did so previously. To this we can add over a dozen faculty members from Harvard Business School also advising about the new normal for the office – and advising to not dismiss telecommuting out of hand.