Israel has made a concerted effort to establish itself as a nation for innovation among its repertoire of startups in the 21st Century
Fremont, CA: Over the last few years, Israel has emerged as the Startup Nation, and 2019 only concretes this argument. The small nation is now competing with companies in Silicon Valley and attracting investments from the world over. The nation has clearly shown that it is capable of rubbing shoulders with some of the tech giant countries. In 2019 alone, the country saw an impressive USD 8.3 billion raised by tech companies, a 30 percent increase over the USD 6.35 billion raised in 2018. The record investment in 2019 caps a successful decade of the Israeli tech industry symbolizes the consistent trend of the countries high tech industry.
Tel Aviv is growing into a tech hub with large investments flowing in from all sides. Israel has made a concerted effort to establish itself as a nation for innovation among its repertoire of startups in the 21st Century. Its recognition as the Startup Nation is only a testament to the feats achieved over the last decade in terms of embracing technology and software. The rapid growth of the sector has made it hard to look beyond Tel Aviv as the melting pot for exciting new startups within the country. With a population of around 8.5 million people, Israel has one of the largest clusters of startups per capita globally. One startup per every 1,400 people to be precise.
The large number of tech startups in Tel Aviv has led to the country's coastal plain city now being referred to as Silicon Wadi. As of 2019, there were 13,200 recorded paid employees in startups based out of Tel Aviv, a figure that eclipses the rest of the nation. The emergence of Tel Aviv as a tech hub has also helped international businesses identify precisely where to scout out external strategic partnerships. With globalization on the rise, Israel's proximity to both Asia and Europe, and its strategic ties with the U.S., the country is on the right track of growth with a unique level of interconnectivity with the wider world. The emergence of Tel Aviv has been a driving factor behind the country's driving efforts to transition from a Startup Nation to a Scale-Up Nation.