Tel Aviv creeps up on Silicon Valley as top start-up center

Published on Tuesday, 27 November 2012 by Webmaster

Tel Aviv creeps up on Silicon Valley as top start-up center
An international study declared Tel Aviv to be the second best place in the world for start-ups.

Tel Aviv was just behind Silicon Valley as the best place in the world to establish a tech start-up, according to Startup Genome, which created a tool called Startup Compass to, for the first time, scientifically measure the factors that go into start-up success. The US-based company was established in 2010 after a landmark study came out that nearly all US job growth these days is being driven by start-ups. For the past year, the company has been polling start-ups — some 50,000 from around the world are in Startup Genome’s database  asking them in-depth questions on what makes them tick, what works and what doesn’t.

The system then crunched that data based on criteria developed by top entrepreneurs, tech companies, and researchers from University of California Berkeley, Oxford, and Stanford — in short, the people who know what start-up success should look like. The study was prepared with support from Spain's Telefonica Digital, which itself is a major funder and supporter of start-ups in Europe. Tel Aviv, second on the list, was bested only by Silicon Valley, but beat out other top start-up cities, like Los Angeles, third on the list, and Seattle, New York, Boston, and London.

What Do you Think? Have your say!