TEL AVIV TECH | ECOSYSTEM REPORT

Dear Tech Community, 2023 was a tumultuous year for the State of Israel, including the local high tech industry. In this year we witnessed a brutal terrorist attack, which sparked a war that continues to this day across multiple fronts. During this challenging time, I am proud to say that the tech industry has once again proven its strength, resilience, and importance to Israeli society. The tech companies and their employees

have skillfully used the tools that characterize their work environment in both the civilian and military arenas to demonstrate resourcefulness, ɮexibility, adaptability, and rapid response. These characteristics have been particularly evident since October - on international advocacy, establishment and operation of command centers, and the collection of donations and resources. All this despite the high proportion of workers who were recruited into reserve duty and while continuing to provide impeccable service to their customers and partners around the world. As you can see in this report Tel Aviv have created a record-breaking 155,000 jobs this year, both in Israel and around the world. Tel Aviv ranks ɭrst worldwide in converting startup companies into unicorns, and ranks ɭfth among global ecosystems in Startup Genome's annual report that measures the attractiveness of the industry. This data establishes Tel Aviv's international status as a major hub for innovation and a magnet for a diverse range variety of companies from diɬerent countries. Despite the global decline in venture capital investments in 2023, Tel Aviv companies raised a total of $4.8 billion in 342 rounds, including 10 Tel Avivian companies that raised mega rounds of over $100 million. This is an indication of the conɭdence and value attributed to local companies by global industry leaders. This trust drives innovation and fuels the technological developments created in the city. Despite the challenges facing Israel, the resilience of the industry, even in these times, is a source of optimism and hope. The Tel Aviv tech industry continues to stand strong serving as a beacon of innovation and creativity among global cities, and oɬering a wealth of investment opportunities. I am conɭdent that the wonderful people in this industry, as well as the technologies and inventions developed now, will oɬer solutions to the challenges of tomorrow. Yael Andorn Chairman of the Board Tel Aviv Global & Tourism

4