Showing posts with label market. Show all posts
Showing posts with label market. Show all posts

More Venture Capitalists

Last Tuesday - July 6th - the Smith team drove down to Herzliya - a suburb of Tel Aviv - for a series of meetings and company visits. Our first stop of the morning was at Better Place, which I've already detailed in two previous posts (here and here). After finishing our meeting at Better Place, we traveled to Benchmark Capital. Later in the afternoon, we had our final visit of the day at the offices of Pitango Capital.

Upon arrival at Benchmark Capital, our first visit was with Shai-Lee Spigelman, the Marketing Manager for Microsoft's Israel R&D Center. Shai-Lee talked with us about the Microsoft experience in Israel. In other words, the when, why, and how they entered the market. She focused primarily on the most relevant aspects related to research and in particular research for a larger multinational corporation. It was my takeaway that Microsoft (as do a lot of other companies) rely on their Israeli team for some of their most difficult problems and tasks. They also see Israel as a focal point for innovation, as exemplified through their ThinkNext conference. All that aside, there are at times difficulties both cultural and logistic in coordinating between headquarters and Israel.

"Microsoft's Shai-Lee discusses R&D in Israel" 
Photo by Kristin Thompson

Following our talk with Shai-Lee, we heard a series of impromptu comments by Ellie Wurtman, a general partner at Benchmark. Ellie briefly talked to us about Benchmark's current investment portfolio, as well as the perceived risks he sees going forward for both his firm and also the broader venture capital market, given current conditions. Ellie then introduced us to the second presenter of the day, Avichay Nissenbaum, the country manager for AOL Israel and the CEO of Yedda Inc.

"Avichay Nissenbaum giving his start-up to buy-out story"
Photo by Kristin Thompson

The Yedda story is a prime example of a start-up success - and more specifically a start-up that succeeded through the investment and backing of venture capital. The name Yedda comes from the Hebrew word for "knowledge". Founded in late 2006, Yedda is a website built to share knowledge with others by asking and answering questions. What I believe is most interesting about the Yedda story is that they were not the first mover in this space. In fact at the time of launch, Yahoo Answers, Wondir, and Google Answers were already offering similar services. Yedda differentiated themselves based on a number of unique offerings as well as through selling their service as a Q&A platform for other independent sites. Traffic grew rapidly over the first year and by November 2007 they had been acquired by AOL - which has subsequently integrated Yedda into their existing website(s).

Our final meeting of the day was at Pitango Capital. Founded in 1996, Pitango was Israel's first major venture capital firm. Over the past 14 years they have invested over $1.3 billion in 120+ portfolio companies. Pitango has been involved in many of the most successful Israeli ventures over this time period. Our host was Chemi Peres, co-founder of the firm and son of Shimon Peres, former Prime Minister and current President of Israel. Chemi is one of the most well connected and experienced venture capitalists in Israel.

"The team listens closely as Chemi Peres talks business"
Photo by Kristin Thompson

For about an hour and a half, Chemi provided us a comprehensive overview of the current Israeli economic condition. He definitely had some insights (very pragmatic/realistic) that surprisingly (i.e. Israeli people are notoriously blunt) we hadn't heard yet during our time in Israel. Following this, Chemi then drilled down on the story behind one of Pitango's original venture investments - VocalTech Communications. In many ways, VocalTech exemplifies both a "great" venture capital investment as well as "flawed" investment. It was great in that it delivered a high return on capital. Concomitantly, the venture did not originally go as far as it could have in capturing the value of the space. Other players (e.g. Skype) came late, yet gained more - mostly because they took greater risks. VCs - though they seem risk seeking - are actually as risk averse (if not more so) then most investors. Lesson learned.

Back to Jerusalem, pt1

After a very busy final week in Haifa, I've finally gotten around to writing about our trip last weekend to Jerusalem. It was a pretty packed weekend, so there's a lot to cover. On Friday morning (July 2) we departed very early from Haifa for the ride south to Jerusalem.
"The Old City of Jerusalem just before sunset"
Photo by Stephen Kushner

After a sleepy ride south, our first stop was at Yad Vashem, Israel's official Holocaust memorial and museum. Established in 1953 through the Yad Vashem Law passed by the Knesset, Israel's parliament, the museum is a 45-acre (600,000sqft) complex located at  at the foot of Mount Herzl on the Mount of Remembrance in Jerusalem. It contains the Holocaust History Museum and memorial sites, such as the Children's Memorial and the Hall of Remembrance. The origin of the name is from a Biblical verse: "And to them will I give in my house and within my walls a memorial and a name (Yad Vashem) that shall not be cut off". Annually, it is Israel's second most visited site behind the Western Wall.
"Inside the Hall of Remembrance at the Holocaust Museum"
Photo by Kristin Thompson

Even for those among us who had previously visited either the US Holocaust Museum in Washington D.C. or visited the concentration camps in Europe, this was a very somber and sobering experience. As a few of us noted, the internal architecture of the museum felt intentional - leading visitors through a confined and crowded space - with the cement walls seeming to fall inward as one walked through the exhibits - recreating the feel of the concentration camps. In contrast, the exterior grounds were beautiful, with many memorial statues and gardens. All in all it was an experience we will all remember for a long time.
"Looking out at Judea after emerging from the Holocaust Museum"
Photo by Kristin Thompson

After Yad Vashem, the group traveled to the Mahane Yehuda market (the souq) for schwarma and snacks. I had a delicious schwarma with hot peppers and - my new favorite topping - spicy mango sauce. Amazing! Afterwords, I bought some dried pineapple and coconut (which is cheap and tasty) and then grabbed coffee at a small cafe while waiting for the rest of the team to finish. I will definitely miss the food and smells of the souq once I get back to the US. Don't get me wrong - Eastern Market is great - it's just not Mehane Yehuda.
 
That evening (Friday) the team had Shabbat dinner at the home of our on-the-ground coordinator - Shelby. An American (now having lived in Israel for about a year) Shelby was kind enough to open her house to us for the night. After a great meal we settled in to watch the World Cup match between Ghana and Uruguay. Late that evening we retired to our hotel for the weekend - Ramat Rachel Hotel located in Kibbutz Ramat Rachel. A little bit secluded from the center of the city, the place was located on a hill offering gorgeous views of Bethlehem, Jerusalem and the Judean Hills.

Cleantech Visits

Once again the Smith team was on the road for a day of company visits - this time focused on cleantech, medical device, and consumer goods firms. On Wednesday morning, we departed from our home in Haifa. Our first stop of the day was the cleantech (agribusiness) firm, Kaiima. Afterwords, we traveled to Misgav for visits with The Misgav Venture Accelerator and Signal Business Development. Later that afternoon, the team traveled to the Naot Shoe Factory at Kibbutz Neot Mordechai in the Upper Galilee.

After a long drive (due mostly to traffic), we arrived in Kfar Tavor and our first meeting of the day, Kaiima. Formerly - Biofuel International - Kaiima was founded in 2006 and is located in the Galilee region of northern Israel. They are an agro-biotech company that develops and uses proprietary, non-transgenic, technologies to boost inherent crop productivity. In particular, the company has developed a Clean Genome Multiplication (CGM™) technology to produce new, non-genetically modified, crops with dramatically improved productivity and improved land and water-use efficiencies. Use of these high-performance varieties and thoughtful agricultural practices can enable farmers all over the world to generate more food and more energy, while sustaining resources.
Photo by Stephen Kushner
 
Our host for the morning was Dr. Doron Gal, the CEO and co-founder of Kaiima. Dr. Gal walked us through a presentation on the history of the firm. Financially, the firm is funded by one of the venture capital firms we visited previously this summer, DFJ-Tamir Fishman. After Dr. Gal's presentation, he answered questions on the underlying technology - its current potential - and also possible future research and development plans. Following the presentation, we had the opportunity to see Kaiima's greenhouses in person. After a short 10 minute drive from their offices, we were on-site. In person, the company's technology was even more impressive than ever could be communicated through slides alone.
Photo by Daniel Branscome

From Kaiima we traveled to our next meeting of the day in Misgav. The Misgav Technology Center (now known as The Misgav Venture Accelerator), was founded in 1992 as an incubator with a focus in medical devices, biotechnology, and pharmaceutical companies. Originally founded publicly by the local council in conjunction with Rafael, Misgav was recently partially privatized through a $2 million investment from The Trendlines Group (a seed-stage investment and consulting group). Our host was Steve Rhodes, Chairman and CEO at The Trendlines Group. Steve spent much of our time with him walking us through Misgav's various portfolio companies - explaining their investment from start to finish.
Photo by Stephen Kushner
 
Misgav currently has 11 incubated companies and 12 “graduate” companies (i.e. pre-revenue). Misgav provides not only capital, but management experience, work space, and legal and accounting services for incubated companies. Their focus is on market research and potential, and in evaluating prospective companies they focus on both the underlying technology, and the market potential. After talking with Steve we then were joined by Tina Ornstein, the CEO of Signal Business Development. The consulting subsidiary of The Trendlines Group, Signal's job is to to provide the structure and market know-how to help Misgav's incubator companies make the leap to the next level. Tina provided a brief overview of a typical Signal engagement and the key factors she focuses on for any given project. All in all, it was a very informative and engaging series of meetings.
Photo by Stephen Kushner
 
The last visit of the day was to the Naot Shoe Factory at Kibbutz Neot Mordechai. The team arrived at the factory in the late afternoon. Opened in 1942, Naot started out as a small kibbutz factory producing work boots. Currently, it employs 160 workers and designs a new line of footwear every year. Their products include a variety of shoes and sandals for men, women and children with special insoles that conform to the shape of the wearer's foot. Naot exports its products to countries worldwide with eighty percent of its products are sold outside of Israel. Major markets include the United States, Canada, Germany and Australia.
Photo by Stephen Kushner
 
After a brief (and somewhat impromptu) tour of the Naot factory, a few team members bought shoes, some for themselves and others as gifts. Shortly thereafter, the team hopped in the bus for the ride back to Haifa - another productive day of company visits in the books.

The Entrepreneurs

Over the past few weeks, the Smith team has benefited from a number of impromptu on-campus meetings and events at the Technion. I've covered some of these in previous posts - such as the bi-weekly e-club meetings, the business ethics seminar, and the Shai Agassi speech. Additionally, in two other instances we've been able to meet with a pair of established Israeli entrepreneurs and discuss with them, both their current and future ventures. These two meetings were very interesting and I think it's definitely worth relating a little about each meeting and describe each entrepreneur.

Photo by Stephen Kushner

A few weeks back we had a chance to meet with Gil Perlberg. Formerly a VP for Business Development at Traceguard, an Israeli military and defense technology firm, Gil is currently the CEO & Founder of a new start-up, Ceronyx. This firm, Ceronyx, develops ceramic nanocomposites that address the increasing demand for advanced ceramic products in high growth fields, such as ceramic armor, cutting tools and medical applications, including ceramic implants for the hip and knee joints. Ceronyx's development is based on a proprietary technology platform developed by Prof. Wayne Kaplan, from the Technion - Israel Institute of Technology. This is still very early stage - which made all that more interesting.

Last Thursday, we met with Dr. Ze'ev Ganor. Currently an adjunct professor (and one of our judges in class) at the Technion, Ze'ev has been a successful entrepreneur for many years. Over the course of an hour, Ze'ev walked us through his many past ventures, covering both his successes and failures. After his stint in the Israeli military and college at the Technion, Ze'ev began his career at Computer Consoles Inc. (CCI) a US-based voice processing and computer software firm. Through a connection at CCI, he was a principal investor with a start-up that developed a new medical technology, Digital Subtraction Angiography (DSA). This technology - a precursor to the MRI - was sold to Elscint for $70 million after 4 years. After this success, Ze'ev had the entrepreneurial bug. Other significant investments and start-ups Ze'ev has been involved with have included ChipX, Nanomotion, and Fiberzone.

Altogether, these meetings were a great opportunity for the Smith team to talk one on one for Q&A with two highly active entrepreneurs. Both Gil and Ze'ev - though they come from very different backgrounds - offered us a terrific inside look at the many diverse challenges faced by entrepreneurs and early stage investors.

Company Visits, pt2

After our meeting with Glen Schwaber from Israel CleanTech Ventures, we departed Jerusalem for the trip south to the city of Be'er Sheva. As we drove, the group debriefed from our earlier meeting and also prepared questions and exchanged information in preparation for our two upcoming afternoon company visits.

Photo by Kristin Thompson

At the time, unbeknown to the team, our group's driver had mistakenly taken an unintended detour on Israel Highway 60, which cuts directly through the heart of the West Bank, past the cities of Bethlehem and Hebron, before reentering Israel proper just outside Be'er Sheva. We were all definitely caught off guard when - after two hours of very fast driving - we entered an armed checkpoint to reenter Israeli controlled territory. Definitely an interesting experience, to say the least! I would write more, but that story is for another time.

After a quick schwarma lunch at a local mall, we arrived at our second meeting of the day, Netafim. Founded in 1965, Netafim is jointly owned by three kibbutzim - Hatzerim, Magal and Yiftah. As of June, 2010 they have over 2,000 employees, operate in 112 countries, and have annual sales over $400 million. Netafim is the global leader in smart drip irrigation solutions for a sustainable future. Since introducing the world's first drip irrigation solutions they have led the way by developing products that help our customers optimize results.

Photo by Kristin Thompson

Our host and guide at Netafim was Naty Barak, the Head of Sustainable Development and a 30+ year veteran of both Netafim and the Hatzerim kibbutz. Naty offered the Smith team a fantastic overview of Israel's first cleantech firm (before anyone even knew about sustainability or clean technology), its history and its future. After a 20 minute presentation, covering the technology of drip irrigation, as well as a few current case studies of its use and impact in global agriculture, we departed for a tour of the Netafim factory. We walked the production floor, inspecting up close each machine along the way.

Photo by Kristin Thompson

Our next visit was to Yitran Communications Ltd., another Be'er Sheva based company. Yitran is a company based around power line carrier technology. In particular, they produce fabless semiconductors and integrated circuits that allow for command and control applications including Energy Management, Automatic/Remote Meter Reading, Home/Building Automation, Switching and Lighting, HVAC Control, Street Light control and more. Now 10+ years since its creation, Yitran is still looking for its first big win.

Amit Grauer, Yitran's current VP of Product Management played host to the Smith team during our visit and walked us though Yitran's short, but eventful history - walking us through its ups and downs - and explaining the path they see to eventually achieving success in the future. As many in our group aspire to become entrepreneurs in the future - it was certainly interesting understanding the false starts, missed opportunities, etc. that come with any new venture. Yitran is certainly an interesting company with a valuable product. The question is twofold though: 1) Can they convince the right industry players to adopt them as the standard? and 2) Can they stay afloat long enough to see the first part become reality?

The weekend in Jerusalem and Be'er Sheva was highly rewarding. By the time we rolled back into Haifa late Sunday night - without a doubt - the whole team was exhausted. That being said, everyone agreed that they wouldn't have missed anything we'd done.

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.

Tel Aviv Weekend

Once again, the Smith team found ourselves on the road - off to explore another part of Israel. Friday, after an early morning departure from Haifa, a relaxing drive down the coastal highway, and a morning meeting (detailed in the previous post), we were guided on a visit of Tel Aviv and the surrounding area.

The commercial and modern cultural center of Israel, Tel Aviv is a study in contrasts. The city itself is only slightly older than the modern state of Israel itself. Indeed, it was only founded a little over 100 years ago by a group of industrious Jewish settlers - literally built on top of a series of inhospitable sand dunes. However, Tel Aviv is directly adjacent to (and incorporates) the significantly older port city of Jaffa.

"Me, Sean, Anne, and Kristin by the seashore in Old Jaffa"
Photo by Kristin Thompson

It was in Jaffa that we spent the afternoon, strolling about and seeing the sights. In Jaffa, we saw St. Peter's Church, the Old Minaret, and the Ottoman Jailhouse. We walked past winding alleyways and half forgotten neighborhoods. Jaffa is no longer an active port, but its amazing location on the waterfront provides a beautiful view from the Mediterranean Sea back towards Tel Aviv proper.

"Me with the city of Tel Aviv in the distance"
Photo by Kristin Thompson

Adjacent to Jaffa is the Neve Tzedek neighborhood. Fashionable and trendy, this was a favorite section of Tel Aviv for many among us. Our walk back towards central Tel Aviv led through one of the city's largest open air souqs, the Hacarmel. In many ways, the market is no different from any other one might find in the world. Loud and crowded, and filled with all varieties of merchandise, both local and foreign in origin, markets like this one are a true experience for the senses.

"The sights and sounds of Tel Aviv's Hacarmel market"
Photo by Stephen Kushner

What really sets one market apart from another though is the local foods. For myself, this is the aspect of travel that has the most resonance. Really, look at these olives below and try and tell me it doesn't make you hungry! From vendors selling fresh produce and spices, to sidewalk chefs hawking hundreds of varieties of street food, this is where a market really differentiates itself. In Israel this means schwarma, falafel, and burekas. Not to miss out, I made sure to sample all three! Delicious.

"Some delicious looking olives in the Hacarmel market"
Photo by Stephen Kushner

To be honest though, these are really only the tip of the iceberg when it comes to Israeli street cuisine. As such, over the next few weeks myself and a few other adventurous teammates will be looking to try as many others as we come across. Personally, I can't wait!

Following our tour, we headed to our hotel. Our lodgings in Tel Aviv were pretty cool, too. Our hotel, the Hotel Cinema, was built in the famous Bauhaus style, and for years served as a movie theater (actually the city's first). After briefly showering and changing we headed out to sample the night life. Dinner was at Mike's Place - directly adjacent to the US Embassy.  Then, we schlepped quickly across the street to La Mer - for nargila and drinks on the beach - a true Tel Aviv experience, not to be missed.

"The team enjoys dinner out at Mike's Place in Tel Aviv"
Photo by Brad Husser

On Saturday, we were free to explore the city. Some in the group opted to head to the beach, while others (myself included) decided to walk the promenade from Tel Aviv to Jaffa. Having toured the city with a guide the previous day, we had a chance to retrace our steps in greater detail. It was hot and sweaty, and though many shops were closed for Shabbat, we were definitely glad to get a chance to see the city for a second day.

"Chris, Kelley, Brad, and Don - looking like the A-Team"
Photo by Stephen Kushner

As we departed on Sunday, I believe the shared consensus among the group was that our tour of Tel Aviv was a great success! Without a doubt, Tel Aviv is a cool city - equal parts Miami, Rio, and Israel. It is a place to see and be seen. We'll be back.

Heading North

This weekend found the team on the road to Northern Israel. Waking up bright and early on Sunday morning, we had a quick breakfast and then departed for a day long guided excursion to see the sights and attractions of Haifa, Acre, and Rosh HaNikra

After a quick drive up the coast from our base in Ramat Eshkol, first up was a quick tour through Haifa's German Colony and then up the side of Mount Carmel to the most impressive (and beautiful) view in Haifa - the Bahá'í World Centre and the Shrine of the Báb. As you can see from the picture below, the Bahá'í Gardens are gorgeous.

"View of Haifa from the top terrace of the Bahá'í Gardens"
Photo by Daniel Branscome

Leaving Haifa, we headed further up the coast to the ancient city of Acre. One of the oldest sites of human habitation, Acre has been a site of many conflicts over the past millenia - and has changed hands repeatedly. As such, Acre is home to many interesting sites, chief among them, a buried Crusader Fortress, an Ottoman Citadel, and the Khan al-Umdan

"inside the main hall of the Knights Hospitaller at Acre"
Photo by Kristin Thompson

No doubt about it, these places were big hits with the group and had the Dan Brown fans among us thinking back to what we'd read regarding the Knights Templar and Knights Hospitaller. Very cool stuff.

By this time, the group was getting hungry - and boy oh boy - the tour guide did not disappoint. This brings us to what I'd say is currently the odds on favorite for highlight of the trip to date - lunch in Acre. After trudging through back allies, we found ourselves in front of a packed little hummus joint in the middle of Acre's Arab souq

"Our tasty hummus lunch in Acre's Arab souq"
Photo by Kristin Thompson

If its not already obvious, the team really liked lunch - even as it only really consisted of warm pita, veggies, and hummus. The restaurant - whose name I never quite figured out how to pronounce - was instantly dubbed by the group as the "Ben's Chili Bowl" (Hummus Bowl?) of Acre. It was just that good.

Leaving Acre, we departed for the final site of the day, Rosh HaNikra. Directly on the border with Lebanon, these white chalk cliffs and coastal grottoes are known as the gateway to Israel. Taking a cable car down to the sea edge, we were able to explore the inside of the caves - and get up close and personal (my wet t-shirt is a testament to how close I was) with the waves that have been crashing and forming this site for ages. 

"The team enjoying the seaside sights of Rosh HaNikra"
Photo by Kristin Thompson

This was a great way to end the day - and got us all excited about the adventures to come! Next up, this week we'll be working at the Technion in Haifa. Then on Friday we depart for a weekend in Tel Aviv.
The views expressed on this site are those of Daniel Branscome, hereafter referred to as "the owner", and do not necessarily represent those of the University of Maryland, the Robert H. Smith School of Business, or the Technion. All content provided on this blog is for informational purposes only. The owner makes no representations as to the accuracy or completeness of any information on this blog or found by following any link on this blog. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.