Startup Genome's coverage of ecosystems is growing. In Miami, the number of $1 billion+ exits increased from two to five from the GSER 2022, and the number of $50 million+ exits from 11 to 19. Emerging ecosystems are those ecosystems following the top 40 global ecosystems in performance. Cities with a thriving startup ecosystem tend to have a higher GDP growth rate than those without. Digital asset exchange Gemini is the Big Apples highest-valued tech unicorn at $7.1 billion, contributing significantly to the 71% increase in Ecosystem Value from July 1, 2019December 31, 2021 to July 1, 2020December 31, 2022.Los Angeles moved up two positions to make it into the top five, at #4. 10. Revealing the Top Startup Regions in 2023 Hence, although Indonesias position significantly improves in this ranking, its output is still lower than smaller nations. Its highest-valued unicorn, tech-enabled delivery platform Paack, was valued at $1.6 billion, helping to take the Ecosystem Value to $21 billion, a 91% increase from 2022. The Salt Lake-Provo ecosystem saw a jump in billion-dollar club startups in the past two years with a total of four such deals, including Nikola Motors $250 million Series D funding round that values the company at more than $3 billion. This ranking identifies the top 30 global ecosystems and 10 runners-up. The ecosystem is buoyed by international investors such as SoftBank, Sequoia, and Tiger Global, all of which are actively investing in the market and push it close to the top 20 ecosystems in terms of Funding. Beijing and Boston follow at #4 and #5, respectively. Conducted in-depth research on how the COVID-19 crisis is impacting startups and startup ecosystems. You can contact us at any time at. However, despite the uptick, there is still some clear untapped potential for Asia-Pacific as a region. Our analysis which expanded from 60 ecosystems in 2018 to 150 in 2019 and to nearly 300 today has allowed us to rank the top 40 global startup ecosystems as well as 100 emerging startup ecosystems. Every year our algorithm is more accurate, and it should be noted that each ecosystems momentum change is influenced by its achievements over the last year and by these algorithm improvements. 7 and No. Among the top five global startup ecosystems, only London was not in the top five in the 2015 ranking. Global Startup Ecosystem Ranking 2022 (Top 30 + Runners-Up) Rankings 2022: Top 100 Emerging Ecosystems. Informed by data on 3.5 million startups across 290-plus global ecosystems, GSER 2023 ranks the top 30 as well as 10 runner-up global ecosystems and includes a top 100 ranking of emerging ecosystems. Indonesias ascent of 23 spots stands as the most significant among the top 20 rankings by total startup output. In addition to government support, Asian cities are also benefiting from a large and growing pool of skilled talent. We allow as few assumptions as possible regarding cause and effect and focus on one thing: measuring results. Israels 8th position in the startup output rankings is impressive considering its small population, outperforming much larger countries like Brazil and Russia. RankingRoyals on Instagram: "San Francisco bay area is by far offering Global Startup Ecosystem 2022: Ranking 1,000 Cities and 100 Countries Indonesia can do much better in the global rankings by increasing its total startup output to match the scale of its massive population. While the aforementioned countries may not currently feature among the top 20 in this Index, exploring rankings by total startup output for 100 countries using. Startup Genome, through an evidence-based data-driven approach, is working with members to help them make decisions that address the right issues at the right time and prioritize vertical strengths. On the other hand, the total startup output, also referred to as the Absolute Power algorithm used in this report disregards population size and focuses solely on the total startup output of each country. In this regard, the US score emerges as nearly 4 times higher than the second-ranked country, highlighting its undeniable dominance in the startup landscape. The findings provide valuable insights for entrepreneurs, investors, and policymakers looking to tap into the most promising cities for the next wave of innovation and growth. This funding is helping to fuel the growth of startups in the region and is enabling them to compete on a global scale. Each locations final score is based on the exact same algorithm. Infrastructure a Life Sciences-focused measure of accelerators and incubators, research grants, and R&D anchors in the ecosystem (e.g., top research hospitals and R&D corporate labs). Thank you! 18 last year. These ecosystems are more mature than other ecosystems globally, featuring a higher number of exits over $50 million and more funding activity. Paris,Singapore, andBangaloreall stand out for high access as well as quality and activity of Funding. China and India have the potential to achieve a higher global ranking by increasing their total startup output to a level that aligns with their vast populations. In addition to Tokyo and Seoul, new entrants among the top 30 include Shenzhen (the advanced manufacturing hub, at #22), Hangzhou (home to Alibaba, at #28), and So Paulo (#30, returning to the top ecosystems list after falling off in 2017). In large part due to MSP Recoverys $32 billion IPO/reverse merger, Ecosystem Value increased by 160%. The Global Start-up Ecosystem Report 2023 - INSME Startup Ecosystem - Startup Genomes 2022 Global Startup Ecosystem Report, the number of startups in each city, and on the availability of capital and funding. The top 100 Emerging Ecosystems are collectively worth over $1.5 trillion in Ecosystem Value, a 50% increase from the GSER 2022. Local Connectedness a function of the number of tech meetups in the ecosystem. San Francisco (Silicon Valley) received the highest score in the Startup Ecosystem category with a score of 60 out of 60. How should I change local policies to support our startup ecosystem during the current COVID-19 crisis? This significant disparity further exemplifies the overwhelming influence and authority that the US holds over other startup ecosystems. Global Connectedness: A calculation of international connectedness based on the ratio of international startups with secondary offices and international investors with investment in an ecosystem. Despite its population being just a fraction of China and India, the United States solidly maintains its first-place position in the total startup output rankings. Singapore, Sweden, the Netherlands, and Switzerland also deserve recognition for their inclusion among the top 20 countries with high startup output. Global Startup Ecosystem Ranking 2022 (Top 30 + Runners-Up) Australia, a country with a population just above 25 million, loses three spots when the scores are not adjusted for population, being surpassed by large nations such as Japan, Brazil and Spain. 9, respectively. Helping to demonstrate Indias increasing strength as a tech startup nation, Mumbai has risen five places to No. Chinese ecosystems do exceptionally well in the measurement of Startup Success, showing how Chinese startups are able to move onto the next stage of funding with relative ease -- for instance, going from Series A to B. Ecosystem Value a measure of the economic impact of the ecosystem, calculated as the total exit valuation and startup valuations over a two-and-a-half-year time period. It continues a trend of Chinese ecosystems slowing discussed in the GSER 2022. Deel empowers companies to overcome the challenges associated with hiring and managing remote teams. Global Startup Ecosystem Index 2023 by StartupBlink It highlights the potential for small nations to excel and target global markets with innovative startups, as well as the strength they have in implementing innovative policies. This city has a strong startup culture and is known for its focus on innovation, particularly in the tech sector. The factor weights used to rank these ecosystems are slightly different from those used with top ecosystems (detailed in our methodology section) to reflect their emerging status and emphasize the factors that influence more in ecosystems that are just beginning to grow. Union Minister Anurag Singh Thakur on Saturday said India is now the hub of 'Start-up' ecosystem in the world, ranking third with 90,000 'Start-Ups' and 107 unicorn companies worth $30 billion. For the 2020 rankings specifically, we measured a total of seven Success Factors, listed below (see the Methodology section for more details). Quality: An indicator of how much policy encourages the commercialization of tangible IP, measured at the country level. Tel Aviv received the highest score in the Innovation Ecosystem category with a score of 51 out of 60. The rankings are based on performance, funding, market reach, connectedness, talent and experience, and knowledge. We have expanded our list of ecosystems and it now includes regions that have traditionally received less coverage, including Central Asia, Middle East, Africa, and South America. A 43% increase in Ecosystem Value comes thanks in part to increased exits over $50 million and above $1 billion. A record 44 Indian startups achieved unicorn status in 2021, taking the overall tally of startup unicorns in India to 83, with most in the services sector, the survey showed. Miami has made significant progress in the startup ecosystem rankings, moving up 10 places to become one of the top startup ecosystems in the world, according to the 2023 Global Startup Ecosystem Report. Startup Central Eurasia Ecosystem Ranking 2023 13 July 2023, online, Zoom 11:00 - 12:30 (GMT+3) PROGRAMME 13 July 2023, Thursday 11:00-11:15 Opening remark -Natalia Mochu, Regional Director, International Telecommunication Union -Irakli Kashibadze, ITU expert, Startup Central Eurasia project coordinator There is a new level of availability of top-notch talent with tech know-how and industry expertise looking for new projects.. Startup ecosystem - Wikipedia However, Series A rounds over the last decade have decreased by 24%, which indicates fewer experienced entrepreneurs in the ecosystem and thus impacts the Talent & Experience score. Top 20 Countries by Total Startup Output in 2023 Amsterdam ranks very high in Connectedness, gaining from Netherlands logistical and social connectedness to the world. That's the key message emerging from the recently launched UAE Venture Outlook 2022 report produced by Dubai Chamber, Mind the Bridge and Crunchbase. In 2022, Startup Genomes Global Startup Ecosystem Report ranked Philadelphia as the 27th-best startup ecosystem in the world and number eleven within the U.S. Miami Rises in Global Startup Ecosystem Rankings, Positioned for Success Startup Genome also estimated that the total value of Philadelphias startup ecosystem in 2023 is $68 billion, which is nearly double the global average of $34.6 billion. A St. Louis native who grew up in the Kansas City suburbs, Adam is a 1986 alumnus of Knox College, and resided in Chicago; Midcoast Maine; Savannah, Georgia; and Lexington, Kentucky, before settling in the Greater Atlanta community of Peachtree Corners, where he lives with his wife and daughter. 26 June 2023 The Global Entrepreneurship Network (GEN), in collaboration with the Start-up Genome, has released the Global Start-up Ecosystem Report 2023. where ecosystem developers will be showcasing to entrepreneurs and investors the strengths of their ecosystems. The results will later be followed by pitches by over 20 governments introducing their startup ecosystems to the world. The StartupBlink Ecosystem Summitis a quarterly gathering of some of the worlds foremost experts and leaders in ecosystem development, and offers a forum for learning and knowledge-sharing on what it takes to create an environment where entrepreneurship flourishes. By leveraging Deels innovative solutions, startups can seamlessly tap into a vast talent pool from 150 countries, breaking down geographical barriers and unlocking new possibilities for growth. One of the key trends this year has been the accelerated growth of R&D powerhouse ecosystems. LS Quality: A function of Life Sciences quality of instruction and research at local universities as measured by the Shanghai Rankings. Moreover, despite China and India belonging to the same population tier, Chinas total startup output score is nearly 2 times greater than that of. Developing ecosystems can be a fuzzy business. Innovation and entrepreneurship are driving forces for economic growth and development around the world. Brazil has shown impressive performance by ranking 17 spots above their global rankings in terms of total startup output. , the scoring algorithm takes into account the population size of countries to assess their startup output per capita. Despite their rankings in this Index being lower than their global rank, these countries showcase their ability to compete on a global scale, even in the face of competitors with massive populations such as China and India. These cities represent the growing importance of Asia in the global startup ecosystem. As a small Middle Eastern country, with an unfavorable geopolitical situation, it has built itself to be a hub and can teach other [], Global Startup Ecosystem Pantheon in 2023, Download StartupBlinks Global Startup Ecosystem Index The StartupBlink Pantheon members are a selected group of special startup related entities with a substantial footprint on the global startup ecosystem. The 2023 rankings find the top three ecosystems have maintained their positions since 2020, with Silicon Valley remaining at the top, followed by New York City and London tied at No. Our only intervention in the score is discounting locations, where we determined that the sample size of the entities is higher than average. ascent of 23 spots stands as the most significant among the top 20 rankings by total startup output. StartupSteve Blank defines a startup as a temporary organization in search for a repeatable and scalable business model. We use this definition to look across sectors and sub-sectors, including software, hardware, health, energy, and others. Challenges remain in connectedness, knowledge, and talent and experience. 4 min read By Eli David, CEO, StartupBlink StartupBlink, a global startup and innovation research center, has launched the Startup Ecosystem Rankings Index 2021. 4. Its number of exits over $50 million increased by 60%, with the highest valued online marketplace Nykaas 2021 IPO at $7 billion. New Zealand has moved up 14 positions, reaching No. These ecosystems are more mature than other ecosystems globally, featuring a higher number of exits over $50 million and more funding activity. Startup Genome Startup & Innovation Hubs: Amid Disruption and Diffusion, Silicon However, what makes the UKs position truly commendable is that it surpasses larger countries like Brazil, Japan, Indonesia, and India. The number of unicorns has increased from six to 15, contributing to a 57% boost in Ecosystem Value. It is important to note that countries with larger populations, such as China, India, Brazil, and Japan, are expected to have higher positions in the total startup output ranking due to their ability in producing more innovation. Measured in early-stage success (ratio of Series B to Series A companies), late-stages success (ratio of Series C to A companies and number of billion-dollar club startups), and speed to exit (both to IPO and other exits). Tech companies have laid off hundreds of thousands of the tech workers they hired in 2021s boom time in recent months in March, Crunchbase put the number so far in 2023 at around 135,000 workers in U.S.-based tech companies (or tech companies with a large U.S. workforce), says the report. By analyzing the top 20 countries with the highest startup output in 2023, this report expands on the data derived from the GSEI. We estimate that the core map dataset has a representative sample covering 10-15% of total relevant entities in global startup ecosystems. That victory comes even as deals and company headcounts have contracted heavily in Silicon Valley over the past two years. The report reveals that the Indian start-up ecosystem faced a challenging first half of 2023 as funding experienced a significant decline. We avoid relying on any theoretical models assuming the causes of success for startup ecosystems. Startup Trend Projections for 2021 - Panel. Riga has entered the Emerging Ecosystem ranking for the first time, in the 91100 range, thanks in part to print-on-demand service Printful achieving unicorn status by raising $130 million in 2021. The Market Reach Success Factor assesses: The Talent & Experience Success Factor assesses: The Connectedness Success Factor assesses: Get our reports on the day they are released, By submitting this form you confirm that you have read and agree to our privacy policy, By entering your email above and clicking on the GET ACCESS button, you agree that we may collect the above personal information and use it for the purpose of communicating to you regarding reports, research and programs supporting startups. However, Silicon Valley as the cutting-edge frontier has dissipated and diffused across the U.S. and the world, thanks in part to the very success of the technologies that came out of its previous cycle allowing remote work, outsourcing and automation., Indeed, concludes one section of the report, Reflecting AIs increasing use and intersection with other sub-sectors, AI & Big Data is the sub-sector with the highest count of total VC deals, making up 28% of the global share in 2022. Expansion Blitz, Sustainability Rankings: The Greenest Locations in the World. 5, both gaining two spots. Grab was the highest valued exit at $40 billion. Global Startup Ecosystem Index 2023 by StartupBlink The Global Startup Ecosystem Index Report 2023 Ranking the Startup Ecosystems of 1,000 cities and 100 countries Full Name * Email * Ecosystem Role * Organization Name * City * Send Now Email me the full report As technology advances and the global marketplace becomes more competitive, cities are increasingly seeking to attract and foster startup ecosystems to spur innovation, job creation, and investment. The Global Startup Ecosystem Report 2023 (GSER 2023) is a comprehensive analysis of the current state of startup ecosystems worldwide. Startup Central Eurasia Ecosystem Ranking Report presentation (online , stand prominently among the top 10 in terms of total startup output. Startup Genome's 2021 Global Startup Ecosystem Report - Crunchbase North America remains the globally leading region in terms of the number of tech startup ecosystems in the ranking (15 of the top 30 with three additional entries in the 10 runners-up). Top Startup Ecosystems in 2020: Ranking 1,000 Cities and - Crunchbase Access a function of early-stage funding volume and funding growth. Seattle,Seoul,San Diego,andAtlantaall perform worse in overall funding compared to their rank. Overview As opposed to the 26 action points in the previous State Ranking Framework, the States' Startup Ranking Framework 2022 has a total of 25 action points. It highlights the influence of population size on total startup output rankings and emphasizes that other factors, beyond population alone, contribute to a country's position in the global startup ecosystem. In conclusion, the Global Startup Ecosystem Index 2023 shows that North America is the most dominant region, capturing 49.9% of global funding with the highest number of cities in the global top 100. The factor weights used to rank these ecosystems are slightly different from those used with the top ecosystems to reflect their emerging status and emphasize the factors that have more influence in ecosystems that are just beginning to grow. Dates: 11 September to 20 October 2023. Exits over $50 million have grown a massive 300%, with Healthtech Pharvaris exiting at a valuation of $636 million. Six countries have two or more top startup ecosystems. The report bases its ranking on a variety of factors, including performance, funding, connectedness, market reach, talent and experience, and knowledge. While Europe and North America still boast the majority of emerging ecosystems, Latin America has three more in the Top 100 than last year, with Buenos Aires, Santiago-Valparaso, and Rio de Janeiro joining Mexico City and Bogot. Scaling Experience: The cumulative number of significant exits (over $50 million and over $1 billion) over 10 years for startups founded in the ecosystem. This approach allows for a comparison of countries dominance in terms of sheer output, regardless of their population size. The ecosystem also experienced a 33% increase in the count of early-stage deals.Melbourne has also seen notable progress, climbing six places from the GSER 2022 to #33. Cost average software engineer salaries, whereas more expensive salaries lead to lower scores. Tel Aviv-Jerusalemand Los Angeles follow, both tied at #6. Notably. Now in its 11th year, the GSER provides insights into the world's leading startup ecosystems, emerging trends, and key challenges facing entrepreneurs. However, Israels case can serve as an inspiration for small countries, as it has effectively harnessed its size as an advantage in the global startup ecosystem. In StartupBlinks Global Startup Ecosystem Index (GSEI), the scoring algorithm takes into account the population size of countries to assess their startup output per capita. Our research and in-depth knowledge has allowed us to classify ecosystems as Ecosystem Archetypes based on their primary dimensions. 24, respectively. Although these ecosystems are outside the list of highest performing ecosystems, their impact and importance is significant in the global economy. (Higher salaries lead to lower scores.). Startup Success how much startups succeed in the ecosystem. The overall Ecosystem Value grew to $235 billion up 100% from July 1, 2019December 31, 2021 to July 1, 2020December 31, 2022. Notably, Switzerland, Singapore, and the Netherlands also demonstrate their impressive capabilities by securing positions among the top 20 countries worldwide.
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