J.P. Morgan Innovation Center chief: 'Most important thing for my career was focus'

Each spring, Jewish families worldwide sit down for their Passover Seders. A highlight of the event is reading the Four Questions. Against the backdrop of recent challenges, including the aftermath of the October 7 Hamas massacre and economic uncertainties marked by rising inflation and interest rates, there are signs of optimism in the Israeli high-tech sector. We reached out to leaders in this industry, asking them our own four questions, allowing them to reflect on their challenges, decisions, successes and dreams. Here are their responses:

Challenges

In the aftermath of October 7 and the Gaza War, what recent challenge have you faced in your industry, and how did you overcome it?

October 7 shocked us and many others in the industry, specifically in the first weeks following the attack. Our employees had to care for themselves and their families, and many were drafted while being part of a global firm. The business never stops. Luckily for us, we had immense support from the broader organization. It came both as practical support by global teams providing coverage for their Israeli counterparts and allowing them the flexibility to focus more on themselves and their families, but also as clear and public support from senior leadership.

Decisions

Looking back, what decision do you feel was the best for your career or business, and why?

My approach to life and career building combines having a line of sight toward my goals while simultaneously being opportunistic. The most important thing for my career was focus. I was very clear on where I was going and what my next step should be while accepting the surprises and uncertainty of life. This doesn’t mean that I did not make mistakes and detours along the way.

Successes

What achievement or success are you most proud of, and what lessons did you learn?

In reality, most of us never experience confetti moments. Achievements are usually a series of small successes and failures, where we constantly look at where we can improve and what strengths we should leverage. I will mention one story: In 2018, after over five years of hard work, including many failures, and after over a full year of tedious negotiations, my partners and I sold a startup company we co-founded. The main achievement there, which also turned into a lesson I took forward, was the importance of patience and perseverance. You must be clear and deliberate about your goals and continue aiming toward them despite surprises and interruptions.

Dreams

What are your aspirations or goals for yourself or your organization in the coming year as you look ahead?

Our primary focus for the year is aggressively increasing our technology footprint in Israel. We’re currently hiring for many roles involving different interesting technological areas. The last couple of years have not been ideal in this sense. In 2022, the competition made growing extremely difficult as it was challenging to hire. In 2023, given the shifts in the economy, we were a little more conservative in hiring. It feels like now is the right time. As an organization, we are ready to invest, and the labor market is still working in our favor. On a personal level, I wish us all to get back to some normality.

Nir Shahaf is the head of J.P. Morgan Innovation Center in Israel.