Despite Israel’s war with Hamas, Tel Aviv rose to fourth place in a prestigious report ranking the world’s top startup ecosystems unveiled at London Tech Week on Monday.
The 2024 Global Startup Ecosystem Report, an annual analysis conducted by Startup Genome and the Global Entrepreneurship Network evaluated 4.5 million companies in more than 300 entrepreneurial ecosystems worldwide. Tel Aviv and Los Angeles both rose one spot up from last year, ranking behind Silicon Valley, New York City and London, tied for fourth place with Los Angeles.
“This remarkable achievement for Tel Aviv in the 2024 Global Startup Ecosystem Report is a testament to our resilience amidst challenging security circumstances,” said Tel Aviv Mayor Ron Huldai. “Last year, we stood in fifth place; and now, we proudly hold the fourth spot, a testament to the democratic and liberal ethos of our city and the innovative spirit of its residents. Surpassing obstacles, we stand shoulder to shoulder with global tech hubs like New York and London.”
According to the report, Tel Aviv’s tech startup ecosystem has created substantial value from exits and funding, positioning it as the leading ecosystem in the Middle East and North Africa region.