Israel's Tel Aviv launches plan to attract int'l tech firms

Source: Xinhua| 2020-02-27 04:23:44|Editor: huaxia

JERUSALEM, Feb. 26 (Xinhua) -- The Israeli city of Tel Aviv on Wednesday launched a program for international entrepreneurs and multinational corporations to simplify the process of setting up shop in the city.

According to Tel Aviv's municipality, the city is seeking to improve its services to international technology companies that have been entering the local market in growing numbers in the past decade.

Tel Aviv is boosting the number of startup companies to nearly 2,000, the highest density in the world per capita or per square km, the municipality noted.

At the end of 2019, some 107 multinational companies were operating in Tel Aviv, registering an increase of 17 percent from 2018.

These companies employ approximately 10,250 people, compared with 9,663 in 91 companies in 2018, and 6,624 in 73 companies in 2016.

The "soft landing" services offered by Tel Aviv municipality as part of the plan are expected to help entrepreneurs by introducing them to the local ecosystem and help them build their networks in the city.

Additional services include helping the formation of legal entities in Israel, an introduction to the local business culture, useful information regarding office space pricing in the city and guidance with taxes, benefits, grants, visas, immigration and more.

Newcomers will be joining leading companies such as Visa, Google, Ford, Salesforce, Coca-Cola, Amazon, as well as additional multinationals which already have R&D centers in the city.

"The Tel Aviv ecosystem is considered a leader in nurturing the entrepreneurial spirit and is home to a large number of startups, collaborative workspaces, and acceleration programs, creating an attractive environment for international entrepreneurs and corporations", the municipality concluded.