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Hi-tech life in Tel Aviv.

(JNi.media) Compass, a provider of automated reporting and benchmarking software for 34,000 startups and tech companies around the globe, has issued its Global Startup Ecosystem Ranking report, and Tel Aviv, Israel, ranked the world’s number 1 startup ecosystem in the world outside the US, and number 5 Worldwide. This while ranking 10th in funding (Silicon Valley, which ranked 1st in performance, also ranked 1st in funding).

Twenty years ago, almost all tech startups were created in startup ecosystems like Silicon Valley and Boston, but today, technology cultivation is a global phenomenon, with startup ecosystems similar to Silicon Valley rapidly emerging all around the world.

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The number of startups that either opened second offices elsewhere or moved their headquarters from one ecosystem to another region rose 8.4 times between 2012 and 2014. Singapore, for example, is a “very good place to be,” notes Compass CEO Bjoern Herrmann. “Many companies that start in Kuala Lumpur or Jakarta move over because the [investor] money is there, it’s easy to open bank accounts, and you have a good regulatory framework, among other things.”

“An interconnected, global startup landscape is taking shape and we’ve gathered the data and crunched the numbers that nobody else has to help you understand how to best navigate this brave new economic world,” write the report authors.

Tel Aviv’s talent resources were ranked 3rd in the world — behind 2nd place Moscow and 1st place Silicon Valley.

“Our greatest resource is the incredible quality and talent of our people, and it was especially exciting to see this amazing population rank so highly in that category,” said Yael Weinstein, Director of Global Economic Development, Tel Aviv Global. “It shows that our future is even brighter than our present and only reaffirms our focus on helping to foster an environment that doesn’t just laud the caliber of our people but actively looks to help them get even better.”

“To be named the best startup ecosystem in all of Europe and one of the top five globally is a tremendous accomplishment for Tel Aviv and the entrepreneurs who call it home,” said Hila Oren, CEO and Founder of Tel Aviv Global. “Tel Aviv’s technology ecosystem possesses a unique spirit and is driven by a true collaboration between the city and its amazing companies to create a global hub capable of driving consistent innovation and creating a powerful global impact.”

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