Startup nation leads in high-tech

Tel Aviv named 2nd best high-tech center

International study ranks Israeli metropolis immediately after Silicon Valley as top place in the world to found a startup company

Sagi Cohen, December 5, 2012

Tel Aviv has made it to the second place, immediately after Silicon Valley, on a list ranking the world’s leading high-tech centers, according to the results of an international study.

The study was conducted by Startup Genome, a body researching the global field of high-tech, and Telefónica Digital, one of the world’s biggest communication companies, among 50,000 entrepreneurs worldwide using the Startup Compass tool.

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The tool aims to understand how the "startup ecosystem" – which includes factors such as investors, consultants, other entrepreneurs, etc – contributes to the development and success of high-tech companies.

The report checked different cities’ suitability to nurture the success of startup companies, reaching the conclusions the best place for startup companies is Silicon Valley, home to major companies like Google, Apple, Facebook and others.

Tel Aviv comes next, before Los Angeles, Seattle, New York, Boston, Los Angeles, London, Toronto and Chicago. The next group of 10 consists of Paris, Sydney, Sao Paulo, Moscow, Berlin, Waterloo, Singapore, Melbourne, Bangalore and Santiago.

According to figures presented in the report, the average age of Tel Avivian entrepreneurs is 36.16, two years older than the average age of entrepreneurs in Silicon Valley (34.12).

The study also reveals that in Tel Aviv, startup employees work 9.42 hours a day, less than their counterparts in Silicon Valley who work 9.95 hours a day.

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