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Israel’s most populous city, Tel Aviv, is home to the world’s sixth-best global startup ecosystem, according to the latest report from industry body Startup Genome.

Tel Aviv and Israel have long held a reputation for being a bustling hub for technology innovation and startups, and the just-released report confirms it — describing Tel Aviv’s startup ecosystem as “one of the most highly developed in the world”.

In fact, Tel Aviv ranks equal sixth overall.

Silicon Valley tops the list (no surprises there), followed by New York City, London, Beijing and Boston. Tel Aviv shares the next spot with Los Angeles.

Startup Genome says Tel Aviv’s biggest strengths lie in the artificial intelligence, big data, analytics and cybersecurity sectors — it ranks second in the world for cybersecurity and third for AI.

Israel as a whole has more startups per capita than anywhere else in the world, and its ecosystem raised $9.4 billion in capital in 2018, making it a very attractive place to establish and grow a startup.

But to make such a prestigious list, a city’s ecosystem must extend globally, and Australia enjoys a close relationship with Israeli companies, especially in the technology sector: the ASX is home to 20 companies based in Israel, including supply chain integrity tech company Security Matters (ASX:SMX), communications technology company Elsight (ASX:ELS) and AppsVillage, which is preparing a listing on the ASX.

This content is produced by Star Investing in commercial partnership with the companies mentioned in this article.  This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.