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Post at: Oct 08 2021

Global Start-up Ecosystem Report 2021

Recent Context

  • On September 22, 2021, a comprehensive ranking of international startup hubs compiled by Startup Genome for its annual Global Startup Ecosystem Report 2021 has released. 

Key Findings

  • Despite a turbulent year, the same five global startup ecosystems from 2020 remain at the top of rankings.
  • Silicon Valley is ranked 1st followed by New York City and London, which for two consecutive years have tied for rank 2nd. 
  • Beijing is ranked 4th and Boston is ranked 5th. 
  • Places like New York City, London, and Boston are able to attract high-quality tech talent to their ecosystems. 
  • North America continues to dominate the Global Rankings, with 50% of the top 30 ecosystems in this region. 
  • Asia is next with 27% and Europe has 17%. 
  • Tokyo is the sole new entrant to the Top 10, moving up six places to 9.
  • Mumbai and Bangalore have featured among the world's top startup hubs.
  • Bangalore also ranked in the top 30 global tech hubs (#23 globally) and Delhi made it into the top 40 list, coming in at 36th.

Top 100 Emerging Ecosystems

  • Mumbai maintained its first position in the Emerging Ecosystems ranking (ecosystems in earlier stages of growth that have high potential to be global performers in the future), outperforming other fast-growing ecosystems in areas of funding, performance, market research, and talent.
  • The Top 100 Emerging Ecosystems are collectively worth over $540 billion in Ecosystem Value, which is a 55% increase from last year.
  • The Top 100 Emerging Ecosystems created 124 billion dollar startups in the period between 2011 and 2020, with 53 ecosystems contributing the majority.
  • Asia is currently in the lead. It accounts for 36% of the billion-dollar club, followed by North America with 30% and Europe with 27%.

  • The findings also revealed London is one of the best cities in the world for access to funding and quality and activity in the investment ecosystem (referring to the number of local investors, investor experience and their level of activity).
  • Bangalore's ranking was also boosted by healthy access to growth capital, demonstrated by recent large funding rounds from food delivery platform Swiggy (USD 1.3bn), social media company ShareChat (USD 502 Million) and edtech firm Byju (USD 460 Million).
  • London is also recognised for its world class talent pool, with the city ranking highly across the board for quality and access to Tech and Life Sciences talent.
  • With four of the world's top ten universities located in or close to London, the city is home to 484k software developers as well as a high number of Life Sciences-focused universities and degree programmes.
  • The report shows Europe accounts for 17 per cent of the top 30 ecosystems this year, with London the only European city to make the top 10 list. 
  • Asian ecosystems also continue to rise in the rankings, with Tokyo (from 15 to 9), Seoul (20 to 16), Shenzhen (22 to 19), Bengaluru (26 to 23), and Hangzhou (28 to 25) moving ahead.

About Startup Genome

  • Startup Genome is the world-leading policy advisory and research organization for governments and public-private partnerships committed to accelerating the success of their startup ecosystems.
  • Startup Genome’s mission is to accelerate startup success and ecosystem performance everywhere,  working together with global thought leaders to define and execute robust policies and programs that drive lasting change.

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