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When Israeli serial entrepreneur Ran Krauss evaluates hires, he wants to hear about their failures. “Knowing failure is one of the things I think is most important, especially in startups, because you are most definitely going to fail at some point,” he says.
Failure often builds character, he adds. Krauss’ goal is to find people with grit: “I think 90% of the time, it’s about motivation, tenacity and not quitting.”
For his part, Krauss has built three successful drone companies in Israel and is considered an international expert on drone technology. His latest company, Airobotics, designs fully automated drones that fly pre-programmed routes and don’t require a human pilot. With its drones now in use in Australia’s mining industry, the company plans to expand to other countries and industries with large infrastructure operations.
Global companies, including Waze, Mobileye and Gett, got their starts in Israel. Israel, says the co-founder and CEO of Airobotics, is a natural place to launch a startup. He finds that while salaries for engineers may be significantly lower than in the U.S, that fact drives Israeli innovators to do something big, and they often join startups. And his own enthusiasm for innovation is contagious: “The physics of the transformation of an idea into something that’s real, to me, that’s mind-blowing.”
SVB Financial Group has been building relationships with entrepreneurs, venture capitalists and service providers in Israel for more than a decade through its subsidiary SVB Israel Advisors Limited
Krauss chose to partner with SVB Israel because, he says, “They understood what we’re doing. It wasn’t like a ‘go, no-go’ banking decision: SVB really tries to understand where our company is going.”
Knowing failure is one of the things I think is most important, especially in startups, because you are most definitely going to fail at some point.
Are you an innovator seeking a banking partner to help you move your big idea forward? We offer financial services to companies in the technology, life science and healthcare and energy resource and innovation sectors.
Ran Krauss, co-founder and CEO of Airobotics, based in Israel, describes how he measures his employees by what they bring to the table, not their titles.
Co-Founder and CTO Phylagen
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