Final Videos

Well, it has been quite a while since my last post! That being said, it was definitely nice taking a well deserved break after the hectic - mile-a-minute - pace I'd kept while in Israel. One person who was still working however was trip videographer, Steve Kushner, who after taking a brief detour into Jordan, returned home and pulled together two final videos chronicling our program. These videos capture the essence of our last three weeks in Israel - both in terms of the activities we participated in and the places we visited. Enjoy!

Dead Sea Visit

Yesterday, after our fantastic hike and tour of Masada, we departed for our next stop of the day - the Ein Gedi waterfalls. Located west of the Dead Sea, close to Masada and the caves of Qumran, Ein Gedi contains a natural oasis, cave, and spring system - as well as a series of waterfalls and pools cascading from the high mountains above. It is a spectacular place - especially when you consider the surrounding desert conditions. Everyone who passes through the region inevitably stops at Ein Gedi - even if only just for a moment.

From the bus we hiked to the upper waterfall and pool. After our earlier hike at Masada, this one was pretty much a literal "walk in the park". That being said, it was still pretty hot, so some folks definitely took this as an opportunity to gripe. Once everyone was sitting in the cool water all the cares floated away. As we walked back down the trail to the parking lot, our guide mentioned the cultural and religious significance of the site. Apparently, Ein Gedi is mentioned several times in biblical writings. For example, it is featured prominently in the Song of Songs and also in Samuel - where David hides from Saul in the caves of Ein Gedi.

After departing the waterfalls, we traveled further up the coast to Mineral Beach - a small resort and spa along the shores of the Dead Sea. Heading straight to the beach, we jumped into the water. Since the water has such a high concentration of salt, you float right to the top. It's a very strange sensation, to say the least. The water also has a very smooth feel to it - almost like an oil - but not quite. Apparently, you can stay in the water for hours and hours, without ever getting wrinkled skin. Up on the beach was a small area to apply mud - which we each quickly caked all over ourselves. So much fun!

From the beach area, we all casually moved up to the on-site sulfur hot springs. Topping out at about 110 degrees Fahrenheit, this pool was a welcome third natural treatment after the waters of the Dead Sea and the full body mud applications. To be sure, it was absurdly hot outside, but believe it or not, these pools felt fantastic. Altogether, this was a great way to spend our final afternoon of the trip together. Tonight we are in Tel Aviv and tomorrow everyone says goodbye for the final time before going our separate ways. Without a doubt, it has been a good run this summer, but it had to end sooner or later. C'est la vie!

Israeli Defense Force

This past Sunday the group had the opportunity to visit Bahad 1 - the officer training school for the entire Israeli Defense Forces (IDF) - essentially the West Point for Israel. Our Israeli teammate, Gil Sharon, took the initiative and contacted the base the prior week to arrange a tour - and despite the short notice - the people he talked with at the base were extremely excited to host us for a tour of the facility and arrange meetings with cadets, as well as a one-on-one meeting with the base commander Col. Yehuda Fuchs.

"Q&A session with three officer candidates at Bahad 1"

Photo by Kristin Thompson

The base is located very near to the Ramon Crater - so after driving up from Eilat - we arrived at the base around 5pm in the evening. After clearing the gate, Gil went to find our hosts, both officers and trainers at the base. For about an hour they guided us on a tour of the facility - walking the grounds and pointing out the key landmarks. From there we went to a brief video presentation on the history of the IDF and the Bahad 1 base. This was followed by a Q&A session with three current cadets. Very interesting - especially in that the soldiers all had fairly different backgrounds prior to beginning military service.

"The team listens in as Col. Fuchs discusses the IDF"

Photo by Kristin Thompson

Our final meeting was with Col. Fuchs (aka "The Fox"), the commander of the base. This was quite an experience - and though the conversation was relegated to what I imagine is a fairly standard script - Col. Fuchs seemed incredibly candid and open about the military and its mission. After talking for a while, he asked for questions and wasn't hesitant to answer any of our queries. Hearing his opinions - especially in regards to the IDF's changing role in dealing with asymmetrical warfare against terrorists - was very enlightening. Very cool!

Start-Up Nation

This past Sunday we had the opportunity to meet with Saul Singer, co-author of the book "Start-up Nation: The Story of Israel's Economic Miracle." Saul gave a thirty minute talk to the Smith team, as well as interns from PresenTense, about both his book and also thoughts on what factors have driven the phenomenal success of the Israeli economy over the past twenty years. Here's a clip posted below of Saul talking about his book.

It's funny how quickly Start-up Nation has become the de facto story of Israel. No matter where we've been this summer or who we've talked to - without fail - everyone has spent the first few minutes of each meeting discussing this book. Have we read it? What did we think? It was definitely cool to finally hear this story from the author himself.

Video Three

Our esteemed trip videographer, Stephen Kushner, has released his third video of the trip. Halfway through the program, this video is the third in a series (of five) depicting the Global Technology Entrepreneurship Fellowship for rising second-year MBA students from the Robert H. Smith School of Business at the University of Maryland College Park. 

The Part 3 video (posted above) includes: commentary, company visits and interviews, as well as cultural experiences and camaraderie, from weeks 4-6. Once again, Steve's done a superb job distilling the spirit of our trip into 3 minutes of video. Thank you Steve!

Second Recap

Another three weeks have passed since our arrival in Israel. The time continues to go by extremely quickly and a lot has transpired in this very short period. As such, I think it's time for another brief summary - for readers both new and old.

Week 4: I wrote about our first class presentations to Israeli venture capitalists at the Technion here. Additionally, the fourth week found the Smith team traveling to Jerusalem during the middle of the week for the Hi-Tech Investment Conference, which I blogged about here and here. Additionally, Israel's Prime Minister made a surprise visit to the conference, which I posted about here. The weekend found the team traveling back to Jerusalem once again - this time for tours of the city's cultural and historical sites.

Week 5: For week five, the Smith team traveled for company visits in Jerusalem (here) and Be'er Sheva (here). Later in the week we went to a speech by Better Place's Shai Agassi at the Technion. This same week I also wrote about our esteemed photographer Kristen Thompson and also posted the latest trip video by Stephen Kushner. Finally, I blogged about the various meetings we've had with entrepreneurs since arriving in Israel. On the weekend, the team traveled to the Galilee and Golan (here, here, and here) - touring Tsfat and rafting the Jordan River. We had a BBQ near Gamla and a water hike at Nahal Yehudia.

Week 6: In the sixth week, the team continued our travels in the Galilee and Golan. We visited Nazareth and the Druze villages, before returning to Haifa. Back in class at the Technion we presented on our "Go to Market" plan. On the weekend, we had free time to travel or relax. Some of us traveled to Bethlehem and the West Bank, while others decided to relax. For me, I used the free weekend to travel and see my wife in Europe. Read about all of our free weekend travels - both inside and outside of Israel - here.

Free Weekend

After almost six weeks of work and travel throughout Israel, the team was ready for some down time and relaxation! For some of us, that meant an opportunity to travel to other destinations both in Israel (not included in the main agenda) and abroad (e.g. Europe), while for others the weekend was time to catch up on sleep and visits to the beach.

Three members of the team - Stephen, Sean, and Kristin - decided to visit Jerusalem, Bethlehem, and the West Bank. Departing early on Friday morning, the group arrived in Jerusalem after about an hour and a half. In Jerusalem the three went to the local bus station for transfer into the West Bank. The trip south was relatively without incident - though there were two brief stops by the Israeli military - who checked Palestinian work permits. In Bethlehem, the group stayed overnight at a hostel located in the Dheisheh Refugee Camp. Established in 1949, this camp is currently home to about 14,000 residents. 

Photo by Sam Mugraby (photos8.com)

 

On Saturday the group visited the Church of the Nativity, the Mosque of Omar, as well as other local historical sites - before returning to Jerusalem late that evening. In Jerusalem they stayed at the Citadel Youth Hostel - which had an amazing view of Jerusalem's Old City. Sunset on the roof was quite spectacular! Late on Sunday - after some more exploring - the group caught the late bus back to Haifa. All in all, this trip was a pretty cool experience!

Photo by Stephen Kushner

For me, this weekend was an opportunity to see my wife, Kim. After changes to Kim's work schedule, we decided last-minute to meet up in Europe during my free weekend. I flew out from Tel Aviv early Friday morning, arriving in Zürich, Switzerland around 8am (Kim had arrived from the US the previous day). After renting a car, I drove to my wife's hotel. We had a quick breakfast and then hit the road for Lausanne. I opted to take us through the Swiss Alps - from Zürich to Luzern and then on to Gstaad via Interlaken. Once we came down from the mountains, we drove along Lac Léman, arriving in Lausanne around 5pm.

Photo by Daniel Branscome

On Saturday, Kim and I went to Broc and Gruyères - the chocolate and cheese capitals of Switzerland respectfully. After lunch in the town of Charmey, we toured the Cailler factory. Now a subsidiary of Nestlé, Cailler was the first Swiss chocolate company, founded near Vevey in 1819. Afterwords we toured Gruyères Castle and sampled some local cheeses. Dinner was back in Lausanne. On Sunday, we had a pretty casual morning, then an afternoon BBQ at a family friend's place in Lutry. Monday found us on the road to Chamonix-Mont-Blanc - where we had an hour long hike to a beautiful alpine glacial lake.

Photo by Daniel Branscome

On our final day we departed Lausanne after lunch for the drive back to Zürich. This time, we went though the Jura past Lake Neuchâtel. Since we had some time before our flights, we decided to bypass Zurich proper and drive north into Germany to the Rhine Falls. After some time touring the site - Europe's largest waterfall - we returned to Zürich and grabbed dinner. Late that evening, I caught my flight back to Israel. Upon landing in Tel Aviv, I caught the train to Haifa, arriving at our house in Ramat Eshkol around 5am. What a weekend!

Galilee To Golan, pt3

Sunday morning and we were off to another adventure! From our hotel, we drove to Nahal Yehudia off Highway 87. Nahal Yehudia is part of a reserve, which includes 11 trails, such as Nahal Zavitan, the Meshushim and the Gamla, which includes the remains of the Jewish town that fought against Vespasian during the Jewish Revolt in 66 CE. 

Photo by Stephen Kushner

The Nahal Yehudia hike was not extraordinarily difficult - but it definitely required some skill - as there was a place where we had to descend down a shear rock face next to a waterfall and swim across a deep pool before continuing on the trail. The flowers were in bloom and the water was cool. All in all, it was about a three hour trek, but well worth the effort!

Photo by Stephen Kushner

Some of the team had opted out of the hike. That being said, we had already coordinated to meet up that afternoon at Keshet Yonatan, a moshav in the Golan Heights. Keshet has a very interesting history. Established in 1974 shortly after the Yom Kippur War by Hapoel HaMizrachi near the Syrian city of Quneitra, the community is a thriving community in an otherwise uninhabited area.

Photo by Kristin Thompson

Asher and his friend (whose house we were now at) had coordinated over the previous months for a shochet - a religious Jew who is duly licensed and trained - to prepare and slaughter a sheep for a traditional kosher BBQ (shechita). The fire pit had been dug the preceeding day. Upon our arrival, the boy scouts on our team (me included) quickly went to work erecting a tent for the shochet to perform his duty.

Photo by Kristin Thompson

While we waited, our guide, Meni, took most of the team for a tour of the moshav and the surrounding area. I opted to stay back and call my dad - since it was Father's Day. Those that did go, said it was well worth the trip. Located nearby was an abandoned Syrian military outpost - a spooky reminder of the conflicts that have not to distantly plagued these lands. In the distance, the team could see smoke - which was apparently from army maneuvers by the IDF. Interestingly, the team also saw a UN truck while out - as the UN still administers a cease-fire boundary zone between Israel and Syria.

Photo by Kristin Thompson

Back at the moshav, once the shochet arrived he gave the assembled guests a brief overview of kosher laws and traditions. We then relocated to the outdoor tent. The killing itself was almost instaneous. The preperation took another 45 minutes - and quite a few on the team helped in this process.  After the shochet confirmed the animal as kosher, we put the carcass on a spit and began the BBQ. Sean Luke did an admirable job tending the fire.

Photo by Kristin Thompson

Four hours later, the meat was finally ready to eat. Don Mayer took over the carving duties and people started to chow down. We had fresh pita, potatoes, fried onions and other fixings. Everything was amazing! In an already busy and exciting weekend, this BBQ was the highlight for many in the group.

Photo by Kristin Thompson

That evening that team was back at the Ha'On guesthouse for our final night in the Galilee. The next morning, Monday, the team departed back to Haifa. Along the way we had a few final stops before our weekend trip concluded. The first stop was in Nazareth. Known as "the Arab capital of Israel," Nazareth is extremely important to Christians, as it the childhood home of Jesus. In Nazareth we visited the Church of the Annunciation, which marks the site where the Archangel Gabriel announced the future birth of Jesus to the Virgin Mary. We also visited The Church of St. Joseph's Carpentry, which occupies the traditional location for the workshop of Saint Joseph.

Photo by Kristin Thompson

Next we stopped in Daliat el-Carmel, which is one of the largest Druze settlements. Home to The Abu Ibrahim Shrine, this was definitely an interesting stop. Just on the outskirts of Haifa, our final visit was to the Morad Winery. Not to be confused with a traditional grape winery, Morad is unique in that it focuses on producing wine spirits from many other fruit sources - e.g. honey, pomegranates, apple, melons, dates, etc. It wasn't for everyone, but the free samples went a long way towards allaying people's concerns.

As we pulled back into our house in Haifa, everyone was happy to be home. That being said, we all felt that it had been an amazing weekend. Looking back, it's hard to believe everything we'd seen and done. Awesome, but exhausting.

Galilee To Golan, pt2

We awoke early on Saturday morning for another day of touring in the Galilee region. In particular, the plan for the day was to tour the many sites of primary importance to Christianity - as this was the land in which Jesus lived for much of his adult life. After a quick, but tasty, breakfast at our hotel, we were off to our first stop of the day, Capernaum, situated right along the northwestern coast of the Sea of Galilee.

Photo by Kristin Thompson

Our tour guide, Meni, brought us first to the ruins of Capernaum's ancient synagogue, where he gave us a very detailed description of the sites history. Afterwords, we walked to House of Saint Peter. Now in ruins, the village of Capernaum has a long and complex history. Dating originally to 150 BCE, Capernaum factors into the New Testament in numerous places. In the Gospel of Luke it was reported to have been the home of the apostles Peter, Andrew, James and John, as well as the tax collector Matthew. According to Luke 4:31-44, Jesus taught in the synagogue in Capernaum on the Sabbath. In the Gospel of Matthew the town was reported to have been the home of Jesus. According to Matthew 8:5-13, it was where a Centurion asked Jesus to heal his servant.

Photo by Kelley Harris

From Capernaum we once again returned to the Jordan River - for the second time in two days - this time to the river south of the Sea of Galilee. This is an area that holds significance to Christians - especially many of the evangelical denominations. It was in this area that Jesus was supposedly baptized by his cousin John the Baptist. After a brief stop here, we stopped at a nearby fresh food market (definitely not a normal tourist stop) where we picked up dates, olives, spices, and my personal favorite - halva. For those not familiar, halva is a sesame based snack - that is often combined with other things like pistachios, coffee, and cocoa. It is a staple of Israeli life and is just plain delicious!

Photo by Kristin Thompson

We then hit the road back to the city of Tiberias. Our activity for the afternoon was an hour long cruise on the Sea of Galilee. The weather was fantastic - clear blue skies - hot, but not totally uncomfortable, especially with the light breeze on the water. Honestly - as an aside - the weather since we've arrived in Israel has been nothing sort of amazing. No rain, sunny every day. To be sure, it's been hot - though nothing a southern boy like myself can't handle. Following the cruise, we stopped for lunch at Kibbutz Ein Gev and then returned to our hotel.

Photo by Kristin Thompson

After a change and a short rest, some people elected to stay at the resort and relax. Most of the team however, departed for the Hamat Gader Springs. These are natural hot springs located in a small sliver of Israeli controlled territory right at the territorial junction of Syria, Jordan, and Israel. To get there you drive down a very steep and winding road - on both sides are the remains of the many battles that have been fought there in the Six-Day War and Yom Kippur War. Signs warning about land mines were everywhere.

Once one arrives at the hot springs, one quickly forgets the dangers surrounding it. Used as a natural spring even during Roman times (the ruins are on site) the current springs is a more modern facility constructed in the late 1970s. Smelling slightly of sulfur, the pools were almost 120+ Fahrenheit - over 20 degrees warmer than the current outside temperature. Interestingly, strange as it may seem, once one gets into the water, it quickly becomes very comfortable. I really liked it - and I'm pretty certain I wasn't alone among the team.

For dinner that evening, the team hopped into the bus back to Tiberias. This time, we had an opportunity to see a little bit of the town as we searched for a restaurant. We eventually settled on a hole-in-the-wall kabab shop. Unbelievably smokey, the place was a real find! The place didn't really have any good options for us to sit together, but Meni and Gil, our two Israeli experts said, "grab tables and set 'em up on the sidewalk." A few minutes later and we were ready to go. A great end to another terrific day!

Galilee To Golan, pt1

Another weekend, another tour! Once again the Smith team was off to explore Israel. This weekend was one many of us had looked forward to from the very beginning. From start to finish, our three night trip was packed with activities, concluding late Monday evening.

Photo by Stephen Kushner

Early Friday morning, we left our house in Haifa for the trip east to the Galilee. Our first stop of the day was the city of Tsfat (also known as Safed), where we had a walking tour of the old quarter. Tsfat is one of the highest cities in Israel - and has been the capital of the Galilee region for many centuries. Interestingly, Tsfat is a city that wears many hats. It is a very religious city - and since the 16th century has been considered one of Judaism's Four Holy Cities, along with Jerusalem, Hebron and Tiberias. Most importantly, it is home to The Abuhav Synagogue (which we visited). More recently, Tsfat has also become known for burgeoning artist's colony that is located along its many dusty alleys.

For lunch many on the team (myself included) grabbed a bite to eat from an Yemenite Jewish food vendor. He and his wife were definitely characters - singing and having a great time - even as he prepared our food. The dish, lahuh, he served had a similarity (at least in shape, though not in flavor) to pizza - though the spices that he ladled liberally onto it had a tremendous kick. Quite possibly one of the spicier dishes I've ever had. It really took a long time for the heat to finally wear off.

After lunch we headed north and east from Tsfat for the Jordan River. Our next activity - and one that we were all pretty excited about - was a two hour rafting trip. Our group divided into a few separate rafts and rowed lazily down the currents. By the end we were all completely soaked. The river was definitely more akin to a stream (at least in comparison to the Potomac), but it was still a lot of fun.

From the rafting take out point we rejoined our tour guide, Meni, who took us to the final stop of the day, cycling in the Hula Valley. The Hula Valley is a gorgeous part of Israel. Focused almost entirely on agriculture - and formed after the Israeli government drained local swamps in the 1950s - the area lies in a depression between the Galilee to the west and the Golan to the east. The team arrived at a small nature reserve - collected rented bikes - and went for an hour long ride. Given the stifling heat, the bike ride was quite a work-out, albeit one everyone seemed to enjoy.

Photo by Kelley Harris

That evening we arrived at our lodgings for the weekend - the Ha'On Village - a tourism and resort kibbutz located on the southern shore of the Sea of Galilee. The place - though nice - had a decidedly 1970s vibe to it. The Lost fans among us all immediately commented that it looked like the Others village. That being said, we were all still pretty content!

A Video Record Ctd

Since arriving in Israel, one of our team members, Stephen Kushner, has been hard at work producing a video series, introducing the program, interviewing team members, and capturing the sights and sounds of our trip to Israel. Part 2 of the video series (posted below) includes: commentary, day-in-a-life, pitching to venture capitalists, company visits and interviews, hi-tech conference highlights, cultural experiences, and camaraderie. Enjoy!

Jerusalem Visit

After a day back in Haifa for our weekly class at the Technion, on Friday morning the Smith team was back on the road for a full weekend of touring and sightseeing. In the morning we were met by our guide, Israel, who gave us a preview of the days activities as we sped down the highway to our first stop of the day, Caesarea.

"Our guide Israel weaves a story about ancient Caesarea"
Photo by Kristin Thompson

Planted firmly against the coast, halfway between Haifa and Tel Aviv, Caesarea is an ancient port city that dates to the time of Herod the Great – about 22 BCE. The ancient city itself is no longer inhabited - as the last occupants, French crusaders under Louis IX - were forced to flee when the city was put to fire by Baybar invaders in 1251 CE. Literally lost to the sands, the city was rediscovered and its secrets uncovered in the 1940s due to the financial generosity of Baron Edmond Benjamin James de Rothschild.

"Modern concerts in Caesarea's ancient amphitheater"
Photo by Kristin Thompson

Our first stop in Caesarea was the Roman aqueduct that provided fresh water to the city for over a thousand years. From there we proceeded to the old city itself, where we visited the Roman theater, hippodrome, and palace (which was possibly the former residence of Pontius Pilate). As we walked back to the van, we passed through the city walls and across the moat, which were both constructed by the Crusaders. All in all, Caesarea was awesome!
 

"Driving through East Jerusalem"
Photo by Kristin Thompson

From Caesarea we drove directly on to Jerusalem. Since it was Friday, a lot of tourist sites were closing at sunset for Shabbat, so we were in quite a rush to get into town. We drove into the Old City and parked right next to the City of David – where the Biblical King built his palace and capital in 1000 BCE. The key attraction at this famous archaeological site is Hezekiah's Tunnel. This tunnel, which runs for a little under half a mile is filled with about three feet of water at all times. We walked (in my case barefoot) through the tunnel before emerging on the other side in East Jerusalem. Following our underground trek (which seemed to go on and on), we proceeded to the promenade overlooking the city.

"Looking out at Old Jerusalem from the Haas Promenade" 
Photo by Kelley Harris

We went next to our hotel for a brief rest before Shabbat dinner. Max and Sue Singer (parents of Saul Singer, the author of Start-up Nation) were kind enough to invite the entire Smith team into their home to participate in this weekly Jewish tradition. Dinner began with the serving of homemade challahs. Afterwords, this ritual was followed by Kiddush, the blessing of the wine. Max and Sue then led us through a number of other songs and readings before we finally began the meal in earnest. Altogether, everyone had a great time!
 

"Shabbat dinner with Max and Sue Singer"
 Photo by Stephen Kushner

In the preceding days, I had been coming down with a bit of a cold. A bug of some sort had been making its rounds around the team - and unfortunately my time arrived sometime late Friday night. I woke Saturday morning feeling pretty horrible - so somewhat reluctantly I opted to skip the tour that morning. I did get a pretty good report from the team later that evening though, when we all convened for dinner.
 

"Old Jerusalem near the Jaffa Gate" 
Photo by Kristin Thompson

On Saturday the group met our guide, Israel, at 9am in the hotel lobby. From there the group went to the Old City, this time for a more thorough tour of its many historical sites. The team walked the Via Dolorosa, visited the Church of the Holy Sepulchre, and shopped (and ate) in the Muristan Souq. From there they climbed the ramparts and walked the city walls, emerging just next to the Western Wall. The last stop of the afternoon was a short drive to the Mount of Olives – a site significant to both Jewish and Christian traditions.

"Fresh food at the always busy, Muristan Souq"
Photo by Kristin Thompson

I was feeling a bit better that evening so I opted to join everyone for dinner at Asher Epstein’s place. Altogether, the group was feeling pretty fired up about everything we’d seen and done so far this weekend. Additionally, this evening was especially important to everyone, as it was the England vs. USA World Cup match. Americans (myself included) have a funny habit of completely ignoring the sport of soccer (nee football) for 4 years and then suddenly remembering when the Cup comes around again. It may be the world’s sport, but it certainly isn’t America's sport. Anyway, the game started at 9:30pm, so many in the group decided to head to the The Lion’s Den pub to watch.
 

"Everyone celebrates as the USA battles back against England in the World Cup" 
Photo by Kristin Thompson

Ninety minutes later the game was over and we (the USA) had forced England to a 1-1 tie. I’ve read that this was a fantastic result – as everyone had expected England to prevail. That being said, I have a hard time getting excited about a tie game. I mean, really? A tie? I think this fact alone is what makes it so hard for Americans to get behind this game. Someone has to win. Without a winner, what’s the point?  

Anyway, one other cool outcome from the game: our esteemed photographer, Kristin had the previous photo featured in the Washington Post. Congrats, Kristin! All in all, Jerusalem was a blast! We got to see some fantastic historical sites, eat wonderful food, and watch the USA beat up on our cousins across the pond. It would be hard to ask for much more – well maybe the USA could have won rather than tied - but I digress.

First Presentations

As I discussed back in the first week of our trip (here and here), groups of one or two of our Smith team have been partnered with an equivalent number of MBA students from the Technion. Together, our combined teams have been assigned technology patents - for which we are creating commercialization strategies. Last Thursday, June 3, we made our first presentations in class at the Technion. Our first presentation was focused on five potential applications of the technology, evaluating possible customers, suggesting hypothetical value propositions, market sizes, technological issues, and building revenue models. Our analysis was meant to establish a baseline for our project going forward.

"Me - surrounded by Asher and the VCs"
Picture by Stephen Kushner

Our presentations were conducted in front of a panel of Israeli and American venture capitalists. The Israeli culture (and the VC culture also for that matter) that we'd been told so much about, but hadn't quite experienced was in full effect. Time and time again during the night, each of us was put us on the spot, our analysis and assumptions totally dissected. We hardly had time to explain our next point before we were barraged with another set of questions. Everyone was definitely feeling the pressure!

"Don, looking pleased after presenting about his UAV tech"
Picture by Stephen Kushner

Despite the tough treatment, the presentations overall were still really well received. One VC, who had judged the same class the previous year said that the presentations were significantly improved. One or two of our Israeli classmates shouted out that this was because of "the Americans", which was a nice compliment.  At 10pm, after the last team had finally finished presenting, we were all pretty wound up by the experience. That being said, everyone seemed to agree that it was one of the best experiences we've had so far in Israel.

First Three Weeks

As we approach the end of the our first three weeks in Israel, I think it's probably as good a time as any to provide a recap of where we've been so far. I'll try and do this a few times this summer in order to fill in any new readers on anything they may have missed. Anyway, the past weeks have certainly gone by quickly. We've seen and done quite a bit. In fact, it's actually hard to believe how much we've been able to fit in to such a short amount of time.

Pre-Departure: in the weeks leading up to the trip I blogged here and here about the reasons why I believe Israel is important and what are the unique characteristics that have lead to Israel's economic and technological achievements of the past few decades. Start-up Nation - the unofficial handbook of our trip - was mentioned on a few occasions. On April 29, the team celebrated the beginning of the program, while also recognizing the contributions of the program's many generous donors, at an evening reception in Washington, D.C., hosted by Miles Gilburne and Nina Zolt.

Week 1: After months of planning and hours of travel, the Smith team finally arrived in Tel Aviv, Israel, passed through customs, and then made the hour long drive up the coast to Haifa - our home for the summer. The first few days were set aside for us to get acclimated to our new surroundings. The fact that we'd arrived during the holiday of Shavuot certainly helped keep things quiet that first night. By Thursday we'd had a chance to settle in and proceeded to the Technion for our first class and to meet our Israeli teammates.  The projects were finalized and the patent creators presented on each of their technologies. On the weekend we toured the city of Haifa - the German Colony and the Baha'i Gardens - and then traveled north for visits to Rosh Hanikra and Acre.

Week 2: The second week began slowly - with Monday through Wednesday working at our office at the Technion. I blogged about the Israeli business culture here. On Wednesday we had a presentation from the Technion Entrepreneurship Club. Then on Thursday, we had our second class with presentations from the Technion incubator and our project leader Asher Epstein, among others. At the end of the week we departed Haifa for a weekend visit to Tel Aviv. Friday morning we had a brief meeting with Israel's Warren Buffet, Yossi Vardi. Later that afternoon, we went on a guided tour of the city - from Jaffa and Neve Tzedek to the Hacarmel Market. Saturday we were free to explore on our own - or head to the beach - as a few folks did. It was awesome! Before heading back to Haifa, on Sunday we had meetings at two venture capital firms, Tamir Fishman and AquAgro Fund, where we met with Moshe Levin and Hillel Milo respectfully. Altogether it was a busy but exciting week!

Week 3: At the beginning of the week a political and military incident drew the eyes of the world to the coast off of Israel and the Gaza Strip. Early on in the week, our resident video blogger, Stephen Kushner, posted the first (of five) major trip videos on the site. Wednesday found us once again at the Technion Entrepreneurship Club for a presentation by one of our program's benefactors, Rick Zitelman. Rick gave a talk on business ethics (here) from a Jewish perspective, as well as comments on investing in general (here). On Thursday we had our first major presentation of the trip. In class we gave 30 minute presentations on our technologies and five potential markets to a panel of local Israeli venture capitalists. [More on this event to appear later this week]. On Thursday, my photo from our house in Haifa was featured on The Atlantic. This weekend the team has been enjoying free time at the beach, while getting ready for next week, when we'll be heading to Jerusalem for the High Tech Industry Association Conference.

Ethical Investing, pt2

In my previous blog post, I covered the first half of Rick Zitelman's presentation to the Technion Entrepreneurship Club on ethics and investing. After concluding his discussion of Jewish business ethics, Rick transitioned to a more general presentation on investing in Israel and investing overall. 

"Anne, Kelley, and Don chatting with Rick Zitelman"
Photo by Kristin Thompson

For many years, Rick has been an investor in companies - as a venture capitalist - as well as a principal advisor to other investors and investment firms. Further, he has been (and currently is) an investor in Israeli companies. As such, he has a wide range of hard won advice to offer to investors - especially those looking to invest in Israel.

In regards to investing in general, Rick offered nine "rules" to live by ...

• There is money and then there is SMART money.
• Smart investors invest in people - passion and potential are critical.
• Remember, it ALWAYS takes longer and costs more.
• It's better to have more capital than less.
• It's better to have a small piece of a big pie, than a big piece of a small pie.
• Protect your IP, but remember, it takes a lot of money and time.
• Play to your strengths and learn to work with your weaknesses.
• There are three types of investors: Lead, Co-, and Passive.
• Valuations are never easy. Take your time and do your homework.

As you can imagine, hearing Rick's thoughts about investing in Israel (specifically his views on the American perspective) was also of keen interest to the Israeli Technion students in the audience - especially those involved in high-tech start-ups - or those considering starting their own ventures. For them, Rick had a few key pieces of wisdom.

• Investors look for reasons not to invest. Don't let poor communication be why.
• Time differences can play havoc. Be prepared to work odd hours.
• When dealing with America, Shabbat removes a significant portion of the week.
• As a deal develops, it becomes good to have partners in both the US and Israel. 

Rick concluded his talk by discussing a final criteria for new ventures in Israel. According to Rick, the Israeli government's Office of Chief Scientist (as well as many other local incubators) offer lucrative sources of early stage financing. However, he indicated that investors and firms should really do their homework before signing onto one of these partnerships, as there are significant pros and cons to following this path. The avenues available for exit can narrow if a firm accepts investment from these entities.

Rick's talk was really well received. He offered both the Smith School and Technion students a great overview of Jewish business ethics, investing, and investing in Israel.

Ethical Investing, pt1

This past Wednesday, the Smith team had the opportunity to listen as one of our program's benefactors, Rick Zitelman, presented to the Technion Entrepreneurship Club. Rick - who maintains an apartment in Jerusalem - is in Israel for the next few weeks and took time out of his schedule to give a talk on three topics close to his heart, 1) business ethics from a Jewish perspective, 2) investing in Israel, and 3) investing in general. In fairness to the amount of information Rick covered, I'm splitting my coverage into two posts.

Owner and president of the The Zitelman Group (TZG), a Maryland merchant and investment bank, Rick has over 30+ years experience in the financial services sector. TZG provides asset management, investment and merchant banking, investment advisory and active investor services. Additionally, Rick is a principal at Valuation Services, a Washington, D.C. financial valuation firm. He speaks frequently on the topic of business ethics and corporate social responsibility. Further, Rick is a strong advocate for the University of Maryland, the Robert H. Smith School of Business, the Dingman Center for Entrepreneurship, Judaism and Israel.

The presentation kicked off with Rick leading a discussion on business ethics from a Jewish perspective. This topic was definitely of interest to our team - especially in light of the fact that we had all just completed Professor Lele's business ethics and social responsibility course this past term. As we came to find out, business ethics has long been considered an integral component of Jewish written law. From the Mishnah and Gemara to the Talmud and Mishneh Torah, all contain concrete advice on behavior in certain business situations.

"Individuals have a responsibility to conduct themselves in an honest and forthright way. Organizations, even while increasing profits, need to recognize some form of corporate social responsibility." - Business Ethics: A Jewish Perspective

Rick's presentation also incorporated a business case study as well. The meeting's participants (us included) broke out into separate groups and analyzed the case, as well as attempted to answer a few questions that had been provided.

"Rick Zitelman talks with an ethics breakout session"

Photo by Kristin Thompson

After a few minutes to confer with our group - and discuss the case in breakout sessions with Rick himself - he led us through a discussion of the case and possible options. Rick then supplemented this with the proscribed actions from a Jewish perspective. Altogether, it was definitely enlightening to explore and discuss this topic - and it helped us gain insight into an integral aspect of the Jewish and Israeli business mindset.

View From My Window

For the past few years, I've been a regular reader of Andrew Sullivan's blog at The Atlantic. Andrew's political and social analysis is top notch, and though I don't always agree with everything he writes, I am always impressed by his thought provoking articles and the discussions his blog fosters.

Back in May 2006, Sullivan began a daily feature on his site that he called The View From Your Window. Originally started as a week-long experiment of reader submitted photos, the project quickly became a favorite of regular readers and has continued on ever since. Per his blog, here is the goal of this daily feature:

The point of the project is not to document snow fall in New Orleans, the aftermath of a hurricane in the South Pacific, or a beautiful sunset in the Arizona desert. The best window views are those depicting what you see everyday when you look outside. So show us - and every other reader - your world. Don't pretty it up; just show it as it is - a glimpse through the looking glass of a blog, at the world its readers live in.

This is really all it is - an opportunity for people to get brief looks into the daily lives of others throughout the world. Ultimately, this feature has been so successful, that last year it was turned into a book.

Anyway, what is the relevance for Smith in Israel? Our team has a pretty amazing view from our place in Haifa, so earlier this past week I submitted a photograph taken from the top window of our team's house to Andrew's blog. I really didn't think it had much of a chance to make the cut. Yet, lo-and-behold, out of the many hundreds of photos received daily, he selected mine for his Thursday post!

"The view from my window"
Photo by Daniel Branscome

Though my photo goes uncredited on his site (as are all other photos submitted to this feature) I think its still pretty cool that the Smith team's view of the world - at least for 9 weeks this summer - got to be shared in this way.