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Tel Aviv Moves up Two Spots to #5 in Global Startup Ecosystem

July 9, 2023
Home > News > Tel Aviv Moves up Two Spots to #5 in Global Startup Ecosystem

According to the 2023 Global Startup Ecosystem Report (GSER) released by Startup Genome at the June 15 Next Web Conference in Amsterdam, Israel rose two spots from 2022 to come in at #5. The ranking is based on data from 3.5 million startups from 290+ global ecosystems and the 2023 GSER evaluates the top 30 and the 10 runner-up ecosystems with a top 100 ranking of emerging systems produced as well. Global startup communities are also broken down into regional areas with individual ranking systems for Africa, Asia , Europe, Latin America, MENA, North America and Oceania.

The 2023 GSER shows that Tel Aviv generated almost $235 billion in ecosystem value from July 2020 – December 2022, based on the value of exits and startup valuations, representing a 100% compound annual growth relative to the previous two year time frame.

In the MENA region, Israel came in first in multiple categories including: funding, performance, talent and experience, knowledge and “bang for the buck”, referring to the amount of runway tech that startups receive from a VC round of funding. The report reflects that the most developed sectors in Israel were focused on life sciences, cybersecurity, artificial Intelligence and big data and analytics.

Source: Israel21C