Team EMS (2023)- Israel Chapter 3 (Sustainability)

As we, the team EMS (Misal Choudhary, Eric Tsai, CFA, Soham Banerjee), are on an exciting journey exploring the world of Israeli startups. Today, we want to share a remarkable aspect of entrepreneurship that flourishes within this community – the idea of “Thinking Big!

Our path led us to an inspiring encounter with Lior Handelsman (General Partner at Grove Ventures), one of the founders of SolarEdge. He shared his journey in Solar Edge with us. SolarEdge’s story showcases how daring to dream big and facing challenges head-on can lead to incredible achievements.

Starting Out: Lighting Up Solar Energy Solutions
When SolarEdge first emerged, skepticism from investors surrounded their unique co-founder model. Surprisingly, this shared leadership soon became the company’s distinct advantage. Their original plan was to conquer the US market, but they encountered fierce competition and received advice to shift focus. Unfazed, they pivoted to Europe in 2007, marking a pivotal moment in their journey.

Embracing Rivals: Lessons from Competition
In 2008, news about a rival, National Semiconductor, investing in similar technology initially raised concerns. However, SolarEdge didn’t let this discourage them. Instead, they harnessed the competitive energy to their benefit. National Semiconductor’s investment in promoting solar solutions inadvertently spread awareness, benefiting SolarEdge indirectly. When challenged by competitors offering cheaper products, SolarEdge responded by enhancing value and introducing new features. They showcased that competition can be a catalyst for innovation and growth.

Converting Challenges into Opportunities
Beyond technical hurdles, geopolitical obstacles like the 2010 electronic component crisis emerged. Despite these setbacks, SolarEdge remained resilient. They creatively transformed challenges into openings, using extended lead times to attract new clients.

A Transformative Alliance
In 2015, SolarEdge achieved a monumental milestone by going public on NASDAQ with a valuation of $700 million. That same year, a significant partnership with Elon Musk’s Tesla materialized. While SolarEdge was eventually replaced, this collaboration showcased their technological prowess and contributed to their impressive growth.

Today, SolarEdge’s value has skyrocketed to $20 billion, a true testament to their audacity and determination.

As we continue our exploration of the Israeli startup landscape, the story of SolarEdge stands as a beacon of inspiration. It reminds us that thinking big, embracing competition, and transforming challenges into opportunities are the hallmarks of a truly remarkable entrepreneurial journey.