StartupBlink released the Global Startup Ecosystem Index 2021, which ranks countries & cities depending on the Startup Environment. In the country-wise ranking, India with a score of 8.833 was ranked 20th out of 100 countries. The United States (US) topped the index followed by the United Kingdom (UK) & Israel.
i.In the City-wise ranking – San Francisco Bay, USA topped the ranking followed by New York, USA & Beijing, China. A total of 1000 cities were ranked in the index.
- Bengaluru, Karnataka was the highest ranked Indian City at 10 (up from 14 in 2020). Overall 43 Indian cities featured in the list, out of which 9 were new.
ii.India was ranked 23rd in the Global Startup Ecosystem Index 2020.
Country-wise Rankings 2021
City-wise Rankings 2021
|1||San Francisco Bay, USA||328.9|
|2||New York, USA||110.7|
Global Startup Ecosystem Index
i.The Global Startup Ecosystem Index by Startup Blink has been updated annually since 2017.
ii.It ranks cities & countries based on 3 parameters – Quantity (number of startups, number of accelerators etc), Quality (number of unicorns, number of employees per start-up etc) & Business Environment (Internet speed and freedom, research and development investment etc).
- At the Asia-Pacific level, China topped the index (Global rank 7) followed by Australia (Global rank 9) & Singapore (Global rank 10). India was ranked at 5th position.
- Bangalore is the Topped ranked City at the Asia-Pacific level, followed by New Delhi & Mumbai at 2nd & 3rd positions respectively.
Ranking of Indian cities
The other Indian cities in the Top 20 were New Delhi – 14 (up from 15), Mumbai, Maharashtra – 16 (up from 22). India now has 3 cities in the Top 20, an achievement only surpassed by the USA.
- Bengaluru is home to notable start-ups like Flipkart, Byju’s and Vedantu. The top sectors it nurtures are Transportation (4th globally), education (6th globally), and fintech (7th globally).
- New Delhi is home to startups like Zomato, Snapdeal. It stands 7th overall in the Transportation and social, leisure sector.
Problems facing India’s Startup Ecosystem
i.India needs to improve Infrastructure, Internet Speed & problem of power outages to further improve its startup ecosystem.
ii.Indian start-ups need to focus on finding innovative solutions which are adaptable across the world, instead of focussing on local markets alone.
iii.The US is the biggest source of FDI for Indian startups. Majority of investment flows into Fintech startups which work on new models of banking such as Neobanking.
Fact – India has the 3rd Largest Startup Ecosystem in the World.
Recent Related News:
On September 11, 2020 Department for Promotion of Industry and Internal Trade (DPIIT) released the 2nd Edition of ‘States on Support to Startup Ecosystems 2019’. Gujarat emerged as the best performer among Category X, Andaman & Nicobar was the top performer in Category Y.
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