Tel Aviv has climbed to fourth place in Startup Genome’s annual ranking of the world’s most attractive ecosystems for startups and innovation. Silicon Valley remains in the top spot, with New York and London tied for second.
The study ranks the top 40 tech startup hubs across more than 300 ecosystems worldwide, collating data on 4.5 million startups. The top five global ecosystems are worth a collective $4.4 trillion – based on exits and startup valuations. The Tel Aviv tech ecosystem was valued at $235 billion, compared to a global average of $29.4 billion.
For the annual ranking, five success factors were measured: performance (the number and growth of exits and how many startups succeed); access to and quality of funding; market reach, or the ability to tap global markets; ease of tapping talent; and knowledge, a measure of publication impact and patents.
“Entrepreneurs from Tel Aviv are confronted with unprecedented challenges, yet continue to build impeccable technologies and fast-growing businesses that successfully penetrate global markets,” said founder & president of Startup Genome Marc Penzel.
