The report published by Startup Genome includes startups dedicated to renewable energy, transportation, logistics, and more
The Global Startup Ecosystem Report (GSER): Cleantech Edition from Startup Genome has launched today at CleanTech Forum San Francisco, introduced by JF Gauthier, Founder and CEO of Startup Genome. The GSER is the world's most comprehensive and widely read research on startups with 280 entrepreneurial innovation ecosystems and 3 million startups analyzed.
Tel Aviv Global worked closely with Startup Genome to highlight Tel Aviv-Yafo's strengths against Cleantech ecosystems globally. The Cleantech Edition dives deep into the globally competitive landscape of technology-based startups focused on reducing environmental impact and solving the scaleup gap in Cleantech. This includes startups dedicated to renewable energy, transportation, logistics, and more. Key highlights from the Cleantech Edition include:
- Tel Aviv has ranked number #2 globally as a Cleantech ecosystem, coming at a close second after Silicon Valley and before key global hubs in the field such as Stockholm, London and Los Angeles.
- North America and Europe dominate the top 25 Cleantech ecosystems, with 44% and 40% respectively. Asia has two ecosystems in the top 25, and MENA and Oceania each have one.
- The second quarter of 2021 saw 77% growth in the number of Series B+ deals compared to the same quarter in 2020, an all-time high.
- While Asia saw a decline in Series A deals in recent years, it recorded a 2x increase in total late-stage investments (Series B+) in 2020, from $1.17 billion in 2019 to $2.47 billion, driven in part by several huge investments in EV companies.
- Post-money valuation of Cleantech companies increased by 23% in 2020 and 176% in 2021.
- Cleantech companies have the highest age at transaction of any sub-sector, with the average company taking 3.8 years to reach Series A and 5.5 years to reach Series B – almost eight months and 11 months longer than for tech startups across sectors.
Ron Huldai, Mayor of Tel Aviv-Yafo: "Tel Aviv-Yafo is a member of the World Cities Climate Leadership Group (C40) and thus a leader in ensuring sustainable policies and innovation to combat the climate change to advance global sustainability and health. Technological innovations play a crucial role in the global challenge to mitigate and adapt to the threat that is climate change. We are extremely proud that the creative and entrepreneurial spirit of Tel Aviv's talent, with its knowledge and investments, is focused not only at excelling in the fields of AI, Fintech & Cyber but also in Cleantech, thinking about the future."
Within the report, Cleantech ecosystems are ranked based on many factors including ecosystem performance, sub-sector strengths, success factor gaps, ecosystem lifecycle, and peer benchmarking. The report includes contributed articles from Cleantech experts including:
Fred Walti, Patrick Gagné, Frans Nauta, Matt Toner, and Bianca Dragomir. Several global partners also aided in the creation of this report including Innovate BC and Foresight Canada.