Presence of local and foreign investors and increased investment in the ecosystem
The year 2020 was a time of unexpected challenges but also a year of accelerated innovation.
In a new report by Tel Aviv Global and IVC, we shed light on how Tel Aviv’s innovation ecosystem demonstrated its resiliency and surpassed previous annual records. Despite the global economic uncertainty, Israel’s tech capital and financial beating heart enjoyed a record year in capital raised and exits and saw the emergence of 14 new unicorns. Tel Aviv's tech ecosystem values at 47 billion dollars, more than four times the world's average.
One of the key reasons for the city's resilience is the extremely educated, experienced, and diverse local talent pool. While Tel Aviv’s tech employees account for only 20% of Israelis employed in the tech sector, they are responsible for nearly half of Israel’s exits.
Another reason for the impressive performance is the ever-rising presence of local and foreign investors and their increased investment in the ecosystem. Over the years, Tel Aviv-based startups have acquired a reputation for their innovative, disruptive and creative ways of thinking, resulting in a show of confidence and genuine interest by a record-breaking number of renowned multinational companies and foreign investors.
