Tel Aviv ranks second in a new report ranking the world's top cleantech ecosystems, coming only after Northern California's renowned Silicon Valley.
According to a report by research firm "Startup Genome" presented last month at the CleanTech Forum San Francisco, Tel Aviv and third place Stockholm "are punching above their weight and leading the world in Cleantech innovation."
Cleantech, short for clean technology, refer to various to technologies that aim to improve environmental sustainability
It is the first time that Tel Aviv has ranked this high since 2012, beating both London and Los Angeles, both of which came at the top five cleantech ecosystems.
"Tel Aviv might be of modest size but Israel's high-tech capital is one of the leading cities in the world for innovation and technology," the report states.
Notably, Tel Aviv is home to the world's highest ratio of startups to residents at one startup for every 154 residents — a total of 2,750 startups.
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The report highlights Israel's history of innovation in sustainability, agriculture, waste management, clean energy and water treatment.
(Photo: ShutterStock)
The report highlights Israel's history of innovation in the sustainability sector, including in agriculture, waste management, clean energy and water treatment.
Israel is the only country from the Middle East and North Africa (MENA) region represented in the top 25.
"Tel Aviv has shown tremendous growth and maturity with many startups evolving into scaleups, unicorns and public companies," Yifat Oron, Blackstone senior managing director and head of the firm's office in Tel Aviv, is quoted in the report.
"As a leading global investment business, we are excited for the opportunities presented in one of the most dynamic and innovative markets in the world."
Republished with permission from i24NEWS