As per the annual ranking of the international startup hubs named ‘Global Startup Ecosystem Report 2021’, compiled by research organisation ‘Startup Genome’ and The Global Entrepreneurship Network, London, Mumbai, and Bangalore are featured among the world’s top startup hubs.
- Bangalore ranked 23rd (26 in 2020) among the top 30 global startups, whereas Delhi ranked 36.
- Global Startup Ranking: Silicon Valley ranked 1st followed by New York City and London (2nd) Beijing ranked at 4 and Boston at 5.
- Top 5 Global Startup Ecosystem 2021 Ranking
| Rank | City |
|---|---|
| 1 | Silicon Valley |
| 2 | New York City |
| 2 | London |
| 4 | Beijing |
| 5 | Boston |
Key Analysis:
i.Mumbai: Itretained its 1st position in the Emerging Ecosystems ranking outperforming other fast-growing ecosystems in areas of funding, performance market research, and talent. Emerging Ecosystems are the ecosystems in earlier stages of growth that have high potential to be global performers in the future.
ii.As per the report, Indian startups raised USD 12.1 billion in the first half of 2021 and as of August 2021, India has produced 24 unicorns.
iii.Bangalore and the surrounding state of Karnataka are also mentioned as the world’s 4th largest technology and innovation cluster.
- Bangalore has healthy access to growth capital by large funding from Swiggy (USD 1.3 billion), ShareChat (USD 502 million), and Byju (USD 460 million).
iv.Other Indian hubs such as Chennai, Pune and Hyderabad were also made it into the ‘Top 100 Emerging Ecosystems’ list.
v.North America accounts for 50 percent of the top 30 ecosystems in 2021, followed by Asia with 27 percent and Europe with 17 percent.
vi.London was stated as the most attractive destination to set up a tech startup outside of Silicon Valley, with an overall ecosystem value of USD 142.7 billion.
vii.The report ranked the leading 140 startup ecosystems based on 7 success factors including Performance, Talent and Connectedness.
Recent Related News:
In accordance with the first Hurun India Future unicorn List 2021′ released by Hurun Research Institute, India became the third largest Unicorn ecosystem in the world after the United States (US) and China as India have 51 Unicorns worth $168 billion, and 32 Gazelles and 54 Cheetahs.
About Startup Genome:
Headquarters – San Francisco, California, United States
Founder & CEO – JF Gauthier
