Business

The Secrets to Israel’s Start-up Ecosystems Success Through the Eyes of a PTC Local

Published

2 years ago

August 22, 2022

Peachtree Corners Magazine staff

The group in Masada National Park and near the Dead Sea.

UGA entrepreneurship students seek the secrets to Tel Aviv’s startup success.

Contribution by Stevie Bramble

About 6,000 miles across the Pacific Ocean, perched on the easternmost part of the Mediterranean Sea, lies Tel Aviv, Israel, a seemingly small entrepreneurial society that has transformed the start-up ecosystem worldwide. Israel has attracted large multinational companies such as Google, IBM, Apple and Fujitsu to their nation due to their start-up success, and it’s continuing to grow today.

“I’m Tirzu, Ein Zo Agadah”
translates into English as,
“If you will it, it is no dream.”
An Israeli Saying

The successful start-up nation attracted University of Georgia’s first study abroad group of Entrepreneurial students to spend time and learn about the ecosystem of entrepreneurship. They spent weeks studying the social and institutional infrastructure that supports one of the world’s busiest start-up hubs. By visiting companies such as Monday.com and Overwolf, the students received an abundance of entrepreneurial knowledge from CEOs and employees in the tech sector.

The first night in Tel Aviv with the whole group and the professors.

“I wasn’t sure what to expect in Israel. However, I was so overwhelmed with the amount of knowledge I was able to grasp in three weeks,” said Stevie Bramble, a rising UGA fourth-year student studying marketing and entrepreneurship. “Everyone in the cohort was excited to learn about this unique business environment, and the community was willing to teach us about it.”

Room mates Nina Boone and Stevie Bramble on the first night in Tel Aviv.

Bramble was one of 28 students who participated in the study abroad Maymester in Tel Aviv, partaking in two courses: The Study of Diverse Entrepreneurship and Innovation Ecosystems. Although the majority of students are pursuing a degree through the Terry College of Business, the trip included all majors.

Some other students are majoring in engineering, fashion merchandising, communications and international affairs. The program ensured a mix of people from all over UGA’s campus to embrace differences.

Ayobami Olubadewo and Stevie Bramble in Jerusalem.

Survivalist engine

According to Shahar Sorek, Israel is a “survivalist engine.” Sorek is the CMO of Overwolf, one of the businesses the students visited, and he spoke on Israel’s ecosystem. He mentioned that the Israeli people have persevered through hardship and furthermore, have produced a community of assertive and risk-taking individuals motivated to work hard and survive for the future.

Right: At the Overwolf Office in Tel Aviv. Top row: Lindsay Mangum, Alex Boulogne, Kaleb Thibodeaux, Laura Neely, Ben Brown and Nina Boone; bottom: Stevie Bramble.
Left, Shahar Sorek, CMO at Overwolf

Adding on to this, Bramble learned that Israel has a military service that all Jewish men and women are required to partake in, called the Israel Defense Forces (IDF). After their 18th birthdays, they must serve for two to three years before pursuing any secondary schooling or leaping into the workforce. While Americans cringe at the words ‘mandatory military time,’ Israeli’s embrace it.

“The army brings people together because everyone in Israel has to do it,” said Hannah Laskow, the influencer marketing manager of Overwolf. “ Israel is only 74 years old so it is pretty small, creating a tight community that is willing to lean on one another.”
Laskow met with Bramble one-on-one during the trip to discuss Israel’s ecosystem in depth. She mentioned that the IDF has different sectors, including, but not limited to, a tech sector and a combat sector.

The tech sector is where most of the multinational companies such as Google and IBM recruit. It’s imperative to Israel’s ecosystem to require the IDF due to the massive amount of talent being injected into society constantly.

In the Study of Diverse Entrepreneurship course, the students had the opportunity to create a plan to maintain Israel as a major hub for start-ups. One of the groups came up with a plan to create technology boot camps for individuals coming out of the IDF who participated in non-tech sectors to gain tech knowledge and fix the lack of talent issue. The students were able to solve some real-world issues happening around them, and it was reported to be one of their favorite projects.

In Israel, to be risk-tolerant is to survive. That’s why the majority of individuals are able to go anywhere and meet others who share an entrepreneurial mindset with ideas and thoughts like their own.

Bramble and the rest of the group met with creators of start-ups, ranging from small local incubators to larger global companies, including Monday.com and Overwolf. Some of the speakers had taken multiple businesses public and now run large tech incubators. The group took away key points toward understanding the ‘survivalist engine’ they call Israel.

The key to success: failure

According to the students, there was one standout speaker. Yuval Tal, founder and president of Payoneer and BorderFree, made time in his busy schedule to talk to the UGA students about his new tech incubator, Team8, and how to survive in a fast-paced start-up nation like Israel.

The student’s key take-away from his speech was the acceptance of failure. Tal mentioned that start-ups take risks, and with risks comes failure. He drove home the point that success doesn’t come without many failures.

“Having the drive to keep going is what matters the most,” said Tal. The students presented him with questions about Israel’s ecosystem, teamwork and his own personal failures.

Tal mentioned his biggest failure was letting go of people and regretting it down the line. Tal hinted that one person he let go went on to start their own business and become successful in the sector he was working in himself. The lesson for the students was that it takes courage to work with and hire people who are smarter and better than yourself. However, it is imperative to do it because it will make your business better.

He also stated that “courage is over intelligence,” meaning that it takes a person to become bigger than their ego to keep going forward even when it seems difficult. The take-aways from Tal were the importance of believing in yourself, having courage and accepting failure.
After considering Laskow’s insights about the IDF, it is clear how Israel has become a high-demand place for multinational companies to set up research and development centers. The riskiness ingrained into the Israeli people from birth is beneficial in their workplace life, especially after their experiences in the IDF.

The IDF fosters a place where people must fail and learn from their mistakes to survive. It seems that Israel has mastered its survivalist engine perfectly. As many say “I’m Tirzu, Ein Zo Agadah” which translates into English as, “If you will it, it is no dream.”

Future trip planned

The University of Georgia plans to host another trip to Tel Aviv, Israel in 2023 through the Entrepreneurship Program. For more information, please visit terry.uga.edu/entreprenuership.

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Business

VyStar Credit Union Continues Growth in Georgia with the Opening of a Peachtree Corners Branch

Published

1 week ago

May 9, 2024

Peachtree Corners Magazine staff

A grand opening and ribbon cutting ceremony is scheduled for May 29, 2024

VyStar Credit Union has to announced that its Peachtree Corners location is now open at 5125 Peachtree Parkway in Peachtree Corners. This is VyStar’s fifth full-service branch in Metro Atlanta and joins branches in Stockbridge, Suwanee, Smyrna and Marietta.

In support of its purpose to “Do Good,” VyStar partners with non-profit organizations across the communities it serves. VyStar will make a $5,000 donation to the Rainbow Village to celebrate the grand opening of the Peachtree Corners branch at the ribbon cutting event in late May.

“VyStar’s first branch in Gwinnett will provide residents and business owners with better banking options, including free checking, access to early direct deposit, great rates, financial wellness education through VyStar’s Financial Fitness initiative, and unbelievable member-centric service that only a credit union can provide,” said VyStar EVP/Chief Operations Officer Chad Meadows.

The Peachtree Corners branch features VyStar’s digital-forward design, which enhances how employees connect with members. This includes interactive touchscreen kiosks that provide financial tools and allow members to quickly explore the latest products, services and rates.

Lobby and drive-thru hours for the Peachtree Corners branch are Monday through Thursday, 9 a.m. to 5 p.m. and Friday, 9 a.m. to 6 p.m.

VyStar continues to work with local organizations to build up the communities it serves. In Metro Atlanta, that includes supporting the Atlanta Community Food Bank, Junior Achievement of Georgia, Frontline Housing Inc., H.E.R.O. For Children and many others.

“Each time VyStar opens a new branch, it is another opportunity for us to support our purpose to Do Good. With eight full-service branches now in Georgia and our first Contact Center in Metro Atlanta, VyStar is able to provide residents and area businesses with exceptional financial products along with personalized service,” said VyStar SVP/Georgia Market President Janean Armstrong.

VyStar has seven additional locations in Georgia: Marietta, Smyrna, Suwanee, Stockbridge, Brunswick, Savannah and Thomasville, with plans to open branches in Pooler, Kingsland and Peachtree City over the next year.

The credit union is also expanding its services in Florida with a third branch in Tallahassee scheduled to open in May followed by a branch opening in the Lake Nona area in August.

To celebrate the grand opening, the community is invited to a ribbon cutting ceremony on May 29, 2024, at 10:30 a.m. Learn more about the Peachtree Corners branch.

Business

Kendra Scott Opens New Store At The Forum

Published

3 weeks ago

April 26, 2024

Peachtree Corners Magazine staff

Kendra Scott

Kendra Scott is celebrating the opening of its newest store in Peachtree Corners the weekend of May 10 at The Forum.

Upon opening, the 2,263 square foot store will display Kendra Scott’s current collections. The store will also showcase the brand’s unique Color Bar, offering shoppers an interactive experience to create customized jewelry in minutes and leave with it in hand.

Worn by celebrities including Hailey Bieber, Camila Cabello, Mindy Kaling, Zendaya and Kelly Clarkson, Kendra Scott’s collections are known for their custom-created stone shapes, genuine materials and design details.

This will be Kendra Scott’s first store in Gwinnett County, which joins five other retail locations in Georgia.

The brand will continue to show its support for the community through partnerships with non-profits and local businesses. For the grand opening weekend, Kendra Scott Peachtree Corners will host various non-profits for Kendra Gives Back events, donating a percentage of proceeds directly back to the causes.

Kendra Scott hosts more than 10,000 Kendra Gives Back events in retail stores annually and looks forward to establishing relationships and connecting with the Gwinnett County community.

“We’re excited to continue introducing the community to new brands, bites and events at The Forum as part of our vision to create downtown Peachtree Corners. Kendra Scott will be a welcome addition, providing our guests a top-notch experience to shop its unique offerings in person,” said Charlotte Hinton, The Forum marketing manager.

Doors will open on Friday, May 10, at 10 a.m. with celebrations throughout the weekend, including giveback events, gifts with purchase and giveaways. RSVP for more details here.

Upcoming events:

Friday, May 10 from 10-12 p.m. – Kendra Scott Peachtree Corners is partnering with The Forum for a VIP event. Supporters who spend $100 will receive a special jewelry gift with purchase.* Guests will also enjoy refreshments from Giulia, The Italian Bakery.
Friday, May 10 from 5-7 p.m. – Kendra Scott Peachtree Corners is partnering with the Norcross High School Cheer Team and donating 20% of proceeds. Supporters who spend $100 will receive a special gift with purchase* Guests can also receive a custom embroidered bow from Quiet Hours Embroidery with purchase.
Saturday, May 11 from 4-6 p.m. – Kendra Scott Peachtree Corners is partnering with Spectrum Autism Support Group and donating 20% of proceeds. Supporters who spend $100 will receive a special gift with purchase.* Guests will also enjoy complimentary cotton candy from Wonder Soirée with every purchase.
Sunday, May 12 from 12-2 p.m. – Kendra Scott Peachtree Corners is celebrating the Community of Motherhood. Supporters who spend $100 will receive a special gift with purchase.* Guests will also receive a complimentary Mother’s Day bouquet of flowers from Nancy’s Flower Truck.

*One per person while supplies last.

Kendra Scott Peachtree Corners is located at 5155 Peachtree Parkway, Suite 710 in Peachtree Corners at The Forum. For companywide updates and product details, follow @kendrascott on Facebook, Twitter, and Instagram.

Business

BRACK: Peachtree Corners to lose Peterbrooke Chocolatier

Published

4 weeks ago

April 19, 2024

Courtesy of Elliott Brack's Gwinnett Forum

Scottt Gottuso and Geoffrey Wilson. Photo provided.

Peachtree Corners will soon lose one of its most iconic, popular and tasty businesses.

Peterbrooke Chocolatier, run by Geoffrey Wilson and Scott Gottuso, has been told by Peachtree Forum landlords, North American Properties and Nuveen Real Estate, that its lease will not be renewed. The last day of business will be July 25.

Meanwhile, Peachtree Forum is getting several new stores. They include Kendra Scott, Sucre, and The NOW Massage. Previously announced were Alloy Personal Training, Cookie Fix, Gallery Anderson Smith, Giulia, Lovesac, Nando’s Peri-Peri and Stretchlab. Wilson adds: “We are not in their big picture.”

Wilson has operated Peterbrooke at the Peachtree Forum for 14 years and Gottuso has been there nine years. They have made the chocolatier profitable and doubled sales. Wilson says: “We turned it around through community involvement and made relationships. We worked with the schools, gave donations, did a lot in the community, and made a difference. We produce most everything we sell in the shop, so it’s labor intensive. We make European-style chocolate treats from scratch from the very best ingredients, package it, make gift baskets, and also sell a lot of gelato.”

Key items include truffles, hand-made caramels, cherry cordials, chocolate-covered cookies and pretzels and strawberries hand-dipped in their own blend of chocolates. (They are all good!) One of Wilson’s and Gottuso’s most iconic products is chocolate popcorn. Once you try it, regular popcorn is tasteless. “We sell a lot of it.” Wilson adds: “Gelato sales have carried us in the summertime, since there are not many chocolate holidays in the summer.”

Peterbrooke now has five employees, and would like to have 10, but it is difficult to hire people with the skills in chocolatiering. A key part of its business is corporate companies, such as Delta Air Lines and Capital Insight. The Peachtree Corners’ Peterbrooke has corporate customers as far away as Cleveland, Ohio.

The operators were surprised when the Forum owners did not renew its five year lease. “The big decisions were made in Charlotte or Cincinnati, not locally,” Wilson feels. “We were no longer in their big picture. They want new and glitzy, shiny, fancy and trendy.”

The operators plan to start their own chocolate company, to be called “Scoffrey,” and initially sell online, plus have pop-up locations during holidays, and possibly have a booth in other merchants’ stores on occasions.

“Whatever we do would look different. We might rent a space somewhere close by so that people can still have the good chocolate experience with us, but we won’t have a regular audience walking by.”

Another element: the price of chocolate futures has spiked this year, with a bad crop production year. Wilson says: “That is key to our business and a huge cost increase. That doesn’t help.”

Wilson adds that the forced closing of the Peterbrooke location “is something like the death of a friend. But you go to the funeral and to the wake, and in six months or a year, It won’t be so bad.”

Have a comment? Send to: elliott@elliottbrack

Written by Elliott Brack

This material is presented with permission from Elliott Brack’s GwinnettForum, an online site published Tuesdays and Fridays. To become better informed about Gwinnett, subscribe (at no cost) at GwinnettForum