JULY 7, 2021 - Launch of Tel Aviv Innovation Ecosystem Report 2020

Despite the global pandemic, 2020 was a formidable year for the Tel Aviv tech scene by any parameter.

JULY 7, 2021 - Launch of Tel Aviv Innovation Ecosystem Report 2020

Tel Aviv-Yafo Municipality and IVC Research Center: Resilience and growth through a challenging year!

The full press release, report and additional visuals can be downloaded here: https://bit.ly/3w1dKxk

The research was carried out by Tel Aviv-Yafo Municipality's Center for Economic & Social Research, Tel Aviv Global & Tourism, and IVC Research Center.

Key Findings:

• Tel Aviv tech companies accounted for 20% of the Israeli tech workforce and generated nearly half of the total volume of investments and exits value.
• In 2020 investments in Tel Aviv tech companies soared to $6.8 billion, 34% higher than in 2019 and accounted for 48% of all investments in Israeli tech companies.
• Foreign investors held 68% of total investments in Tel Aviv companies
• Tel Aviv tech company exits reached a record $4.43 billion in 2020, a 20% increase compared to 2019 and 46% of all exits by value.
• There are 20 tech unicorns located in Tel Aviv, 14 of them became unicorns in 2020
• During the past five years, the number of tech companies active in Tel Aviv grew by 25% compared to a 16% increase across Israel.

Tel Aviv, Israel’s high-tech capital, is one of the leading cities in the world for innovation and technology. Creative and experienced talent, Innovative tech companies, venture capital funds and other investors; accelerators, multinational corporations, financial institutions; service providers and leading universities are all located in proximity, creating an ebullient and successful ecosystem. Despite the global pandemic, 2020 was a formidable year for the Tel Aviv tech scene by any parameter.

Ron Huldai, Mayor of Tel Aviv-Yafo: "The Tel Aviv-Yafo innovation ecosystem enjoyed a remarkable year, breaking many records. Throughout the report, it is clear that outstanding human capital is one of the main reasons for the success of the ecosystem. Tel Aviv’s talent is a magnet for multinational corporations and foreign investors who join the growing local scene of innovators. The tech industry demonstrated its value to our city and country throughout this challenging year, while its cutting-edge ideas and developments remain at the forefront of global innovation. Tel Aviv-Yafo will remain an international center of attraction for human capital and financial capital."

The full press release, report and additional visuals can be downloaded here: https://bit.ly/3w1dKxk