- Bengaluru improves startup ranking by two spots
- Silicon Valley retains the top spot
- Bengaluru scored high on talent availability and patent filing
StartUp Genome, a venture that helps startups grow, recently published its Global Startup Ecosystem Report for 2023. The report ranks startup ecosystems and provides insight into sub-sector trends.
Bengaluru is the only Indian city to be ranked in the top 20. Not only that, it improved it’s ranking by 2 spots since the last report in 2017.
| City | 2019 Ranking | Change Since 2017 |
|---|---|---|
| Silicon Valley | 1 | 0 |
| New York City | 2 | 0 |
| London | 3 | 0 |
| Beijing | 4 | +1 |
| Boston | 5 | 0 |
| Tel Aviv | 6 | 0 |
| Los Angeles | 7 | +3 |
| Shanghai | 8 | 0 |
| Paris | 9 | +2 |
| Berlin | 10 | -3 |
| Stockholm | 11 | +3 |
| Seattle | 12 | 2 |
| Toronto-Waterloo | 13 | +3 |
| Singapore | 14 | -2 |
| Amsterdam-Startup Delta | 15 | +4 |
| Austin | 16 | -3 |
| Chicago | 17 | +1 |
| Bengaluru | 18 | +2 |
| Washington DC | 19 | New |
| San Diego | 20 | New |
Global Startup Ranking – How Did Bangalore Fare?
The report ranked cities according to market reach, funding, performance, talent, connectedness, knowledge, experience, and growth. In terms of patents filed, Bengaluru was scored 9 out of 10. Bengaluru scored 8 out of 10 in terms of life sciences and talent.
When it came to the success rate of startups and output, the city scored 6-7 out of 10. Unfortunately, Bengaluru got only 4 out of 10 points in the study’s measure of startup ecosystem value. This was calculated as the total startup and exit valuations over a period of two and a half years.
The city also scored poorly for its research and policies regarding startups. It scored 2 out of 10 for its relatively low funding quality. A lack of experienced VCs was determined as the cause of this.
| Scoring Factor | Score Out Of 10 |
|---|---|
| Patents Filed | 9 |
| Life sciences and Talent | 8 |
| Startup success and Output | 6-7 |
| Startup Ecosystem Value | 4 |
| Research And Policies | 3 |
| Funding Quality | 2 |
Global Startup Ranking -The Rest of the World
The top three spots remained unchanged with Silicon Valley, New York City, and London maintaining their positions. Beijing improved its raking since 2017 and shared the third position with London. 12 cities in the USA featured in the top thirty ranks.
Beijing, Singapore, Shanghai, and Hong Kong scored highly for the availability of talent in these cities. Like Bengaluru, London, Geneva, and Stockholm were scored 9 out of 10 for the number of patents filed.
About The Report
Startup Genome brings out this report with 300 partners. In 2018, the report analyzed only 60 ecosystems but this year, the analysis was expanded to cover 150 ecosystems. This report is considered one of the world’s most comprehensive startup ecosystem reports.