CNN screengrab CNN screengrab Samuel Burke of CNN (right) interviews Israel’s Chief Scientist Avi Hasson. (Photo: CNN)

CNN report highlights Israel's tech scene

Samuel Burke explores the favorable factors for startup success.

In recent years, Israel has made a name for itself as a high-tech incubator, attracting entrepreneurs and American investors. Israel is second only to China in the amount of foreign firms it has listed. Indeed, there are more Israeli companies on NASDAQ than all of Europe combined.

CNN's Samuel Burke recently traveled to Israel to check out its high-tech sector. Watch his report below:

In his book "Start-up Nation: The Story of Israel's Economic Miracle," Dan Senor explains why Israel's tech scene is so successful. "Israel is the fastest-growing, one of the most entrepreneurial and innovation-based economies on the planet," he told CNBC.

Israel's Chief Scientist Avi Hasson credits the country's startup success to, among other things, its available venture capital and  favorable tax policies. "If you are an entrepreneur with an idea, you will have everything you need in order to succeed," he said. "In this country, high tech is not a hobby. This is the economy."

As Motti Kushnir, the CEO of an Israeli augmented reality firm, put it: "Being the largest factory of startups will be the right way to go."

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