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Indian Cities Go Up In Global Start-Up Rankings As China's Ecosystems Slip- Check Full Report
Writer: Shashwat Swaroop Garg
My name is Shashwat Swaroop Garg, I'm 21 years old and I am from Kanpur, Uttar Pradesh. I am a media student at Symbiosis Institute of Media and Communication, Pune. I am currently pursuing my specialization in Journalism. I am interested in playing videogames, reading and learning about new and interesting things and I work well in a team
Others/World, 16 Jun 2022 6:26 AM GMT
Editor : Snehadri Sarkar |
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
Creatives : Snehadri Sarkar
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
India witnessed a rapid increase in the number of large exits and early-stage visits and has seen a substantial increase in ecosystem value.
Several Indian cities have risen in the global startup ecosystem rankings, with Delhi being one of the latest additions. A report by Startup Genome, which is a policy advisory and research organization for public and private organizations, says Delhi is 11 places higher than in 2021, entering the top 30 for the first time at 26.
Bangalore, home to the R&D centres of some of the world's most renowned tech companies, including Amazon, Microsoft, Facebook and Google, has risen from 23 last year to 22. On the other hand, China's ecosystem suffered a drop in the rankings.
About The Rankings
When talking about the startup growth in India, a report by Startup Genome said, "India has seen a rapid increase in the number of large exits and early-stage visits, and has seen a substantial increase in ecosystem value." The report also said that in 2021, the country produced 44 unicorns and saw a 10-fold increase in exits compared to 2020. It also stated that Delhi and Mumbai have joined Bangalore in the top 40.
The startup ecosystem in China, on the other hand, has suffered a drop in its rankings. The performance of Chinese startup hubs has seen a decline for the first time since the global startup ecosystem ranking report was published. Out of the 13 cities studied, eight cities have fallen in this year's rankings.
Talking about China, the report by Startup Genome said, "China, is experiencing the impact of government regulation. In 2021, Beijing cracked down on companies over issues including anti-competitiveness and data privacy." The report further stated that investors worldwide suffered when the Chinese government went after its Edtech Industry in July 2021 and raised constraints on overseas IPOs in December 2021.
The report also said that according to Bloomberg, China is still a startup powerhouse, with a venture investment topping $130 billion in 2021.
Rankings Of Other Cities
Boston took the number 4 spot in the rankings after replacing Beijing. Silicon Valley is ranked 1 in the report, followed by New York City and London.
Seoul entered the global top 10 ecosystems for the first time, up by six places from 16 in 2021 and 20 in 2020.
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