The business centre of the Startup Nation is leading an initiative to leverage its unrivaled innovative ecosystem and unique vibrant atmosphere in order to attract foreign startups / Hila Oren, Director General, Tel Aviv Global City
Tel Aviv-Yafo is currently focusing its international economic development strategies toward positioning itself as a leading International Centre of Innovation.
In 2010 the Mayor's Office established the Global City Administration for the purpose of formulating the city's strategy and pioneering its operative activities.
The Administration has defined a five year plan for harnessing the city's unique assets in order to attract foreign business. Its value proposition rests on a globally renowned startup ecosystem packaged in the city's young, cosmopolitan and non-stop character. An irresistible synergy for creative talent and industries, this unique environment acts as a large-scale accelerator which feeds and generates the country's high-tech industry.
The city's plan is focused on cultivating and deepening the international nature of its local ecosphere thereby ensuring that the city will become the most attractive place in the world for technology initiatives to establish their activities.
Tel Aviv Business Centre
Tel Aviv-Yafo is the business, financial and commercial hub of Israel's economy and the core of its booming high-tech industry
The city is the business, financial and commercial center of the State of Israel and a huge employment and production center. It is home to most of the country's business institutions including The Israel Export Institute, the Tel Aviv Stock Exchange, most of the country's international banks, venture capital funds, and countless international law offices and consulting companies.
The city is the business hub of a country which boasts the highest number of startups per capita, the highest VC investments per capita (2.5 times that of the USA, 30 times that of Europe) and more startups established annually than any European country. Almost all the venture capital and most of the country's early stage startups are concentrated within the metropolis.
Tel Aviv Innovation Hub -
Combination of Ecosystem
The city's fabric is a unique synthesis of informal business culture and startup hub coupled with a young and vibrant atmosphere - a synergy particularly attractive to creative industries
Tel Aviv-Yafo is a hot-bed of knowledge based industries. The diversity of its economic fabric covers a vast array of high-tech industry clusters and the full spectrum of the high-tech life cycle, from grassroots startups to multinational superpowers. The local ecosystem includes renowned world class talent, leading R&D centers, startup incubators, accelerators and co-working spaces and informal networking meet-ups and events. All this is supported by the highly experienced financial and business services which accompany the ever growing Israeli high-tech industry.
But, the true secret to the city's success is its unique DNA which allows the necessary outside the box approach and creative spirit. It is a city of young adults and boasts a conglomeration of theatre, art, festivals, nightclubs, cafes, bars and pubs which together with the unrivalled vibrancy of its nightlife make it a city like no other. During most of the year, its hot sunny days give way to warm Mediterranean evenings which pull the city outside to fill the countless cafes and bars which stay open and buzzing seven days a week until the early hours - in Tel Aviv, there are no last calls only last customers.
The synergy of its buzzing atmosphere and entrepreneurial culture is the creative energy which feeds the city's unparalleled early stage innovative ecosystem.
Tel Aviv - Measures
to Attract Foreign Startups
Tel Aviv-Yafo will implement measures to encourage foreign startups, and entrepreneurs to take advantage of its local climate
• Exposure to capital - the local industry boasts the top technological talent and the highest venture capital investments per capita in the world. The city will support international tech and networking events and conferences in order to increase exposure to talent, capital and potential markets
• Accessibility - the local innovation ecosystem is internationally minded and already supports many of the foreign talent and entrepreneurs in the city. Through partnerships with the ecosystem community the infrastructure is being mapped and will be made even more accessible to newcomers
• Events - support will be provided to develop more accelerator programs, co-working spaces and startup hostels for foreign entrepreneurs
• City Interface - in order to ease the landing into a new city, the city is establishing programs to develop web and mobile applications for interaction with city life, transport and the municipality
• Academic Programs - programs for foreign students are being developed in business, technology and design in the more than twenty academic institutions which exist in the metropolis.