The city of Tel Aviv was ranked second in a cleantech edition of the Global Startup Ecosystem Report (GSER) from Startup Genome, an innovation policy advisory and research firm.
GSER, released last week, is a comprehensive report that features in-depth research based on data combed from 280 entrepreneurial innovation ecosystems and three million startups. The cleantech edition “dives deep” into ecosystems with tech-based startups focused on reducing environmental impact. This includes startups dedicated to renewable energy, transportation, and logistics.
Tel Aviv ranked just below Silicon Valley, the region in Northern California that serves as a global center for high technology and innovation.
Tel Aviv Global & Tourism , the municipal company that reports to the Mayor’s office the Tel Aviv-Yafo Municipality, worked closely with Startup Genome to highlight Tel Aviv-Yafo’s strengths against cleantech ecosystems globally.
“Technological innovations play a crucial role in the global challenge to mitigate and adapt to the threat that is climate change,” said Ron Huldai, Mayor of Tel-Aviv Yafo. “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, and Cyber but also in Cleantech, thinking about the future.”
The report also showed that North America and Europe dominate the top 25 cleantech ecosystems, with 44 percent and 40 percent respectively. Asia has two ecosystems in the top 25, and MENA and Oceania each have one. The second quarter of 2021 saw 77 percent growth in the number of Series B+ deals compared to the same quarter in 2020, an all-time high.
The report’s other findings indicate North America and Europe dominating the top 25 cleantech ecosystems as well as a 77% spike in the number of Series B+ funding deals in 2021 compared to 2020. Beyond that, the valuation of cleantech companies skyrocketed from a 23% increase in 2020 to a 176% increase in 2021.