Bengaluru, NFAPost: The Global Startup Ecosystem Report 2023 (GSER 2023) prepared by Startup Genome states that Bengaluru-Karnataka and Delhi moved up two places to reach 20 and 24 position respectively in the global startup city ranking.
Now in its 11th year, the GSER provides insights into the world’s leading startup ecosystems, emerging trends, and key challenges facing entrepreneurs.
The top three ecosystems have maintained their positions from 2020, with Silicon Valley remaining at the top, followed by New York City and London tied at the second position.
The report states that India’s technology epicenter Bangalore confrms its position as the country’s leading startup hub.
“BengaluruKarnataka, the highest-ranked ecosystem at #20, rose two places and shares its position with Sydney. This success is largely due to a 57% increase in exits over $50 million and a significant growth in unicorns, from 21 to 36,” states the report.
The report highlights that the state government has ambitious plans to double the number of startups through various initiative. “Bengaluru population is expected to grow by more than 6% in 2023, projected to be the fastest growing city in the Asia-Pacific region,” states the report.
It is interesting to note that Boston and Beijing have both slipped out of the top five to 6th and 7th respectively, losing two positions each. This has paved the way for Los Angeles to rise to 4th and Tel Aviv to 5th position, both gaining two spots.
The GSER 2023 is based on extensive research and analysis of data from 3.5 million startups across 290 global ecosystems and over a decade of independent research and providing policy advice to more than 145 clients in over 50 countries to date.
The report also states that Zurich has made remarkable progress and risen 10 places from last year, entering the top 30 + runners-up at 36the position, and making the biggest year-on-year improvement in Europe.
The GSER 2023 hopes to provide valuable perspective on the global startup landscape and actionable recommendations for entrepreneurs, investors, policymakers, and other stakeholders looking to drive innovation and economic growth even in these challenging times.
Startup Genome is the world-leading policy advisory and research organization for public and private organisations committed to accelerating the success of their startup ecosystem.
