TLDR:
- Tel Aviv has more billion-dollar startups than any other city in the world.
- The city’s tech hub continues to outperform other global tech hubs despite conflict and political issues.
In a recent report jointly published by Tel Aviv Tech and the innovation data platform Dealroom, it was revealed that Tel Aviv has a higher proportion of startups that have become billion-dollar companies than any other city in the world. Despite ongoing conflict in the region, Tel Aviv has continued to outperform global tech hubs like San Francisco and New York.
The report highlighted that almost 5% of the city’s startups backed by venture capital have become unicorns, with Tel Aviv ranking number one globally in the conversion rate from startup to unicorn since 2019. The city also boasts the third highest proportion of venture capital-backed startups that have become decacorns, with companies like Wiz, Rapyd, and Navan leading the way.
Despite concerns about politics and security, Tel Aviv has demonstrated remarkable resilience and retained its status as an international high-tech leader. The city attracted $5.1 billion of venture capital investment in 2023, ranking it ninth in the world. Tel Aviv remains a beacon of innovation and growth, with a thriving tech ecosystem that continues to produce global winners in cybersecurity, fintech, and enterprise software.
Investors from around the world are looking to Tel Aviv as an exceptional tech leader, with the city’s track record of success in creating unicorn companies attracting new interest. Workers from Tel Aviv-based unicorns have gone on to found over 180 venture capital-backed companies, solidifying the city’s reputation as a hub of innovation and entrepreneurship.
