Global Startup Ecosystem Report 2023

The Global Startup Ecosystem Report 2023 (GSER 2023) provides a comprehensive analysis of startup ecosystems worldwide, highlighting the top ecosystems, new trends, and challenges faced by entrepreneurs. The report offers actionable insights for business owners, investors, policymakers, and financiers.

Key Highlights of the Report

• Top Ecosystems: Silicon Valley, New York City, and London continue to hold the top three positions in the world’s startup ecosystem rankings.
• Positive Progress in India: Indian ecosystems, particularly Mumbai, Bengaluru-Karnataka, and Delhi, have shown positive progress in the rankings. Bengaluru was ranked 20th, while Mumbai rose five positions.
• Singapore’s Growth: Singapore has shown strong progress in the top 10, moving up ten spots to claim the eighth position. This highlights Singapore’s growing significance in the global startup ecosystem.
• The decline in Chinese Ecosystems: Important Chinese ecosystems have experienced a decline in rankings, with Shenzhen declining by 12 points, Beijing by two spots, and Shanghai by one spot.
• Pune’s Potential: Pune, a growing ecosystem in India, has significantly improved its ranking, indicating its potential to become a major startup centre.
• Melbourne and Zurich’s Progress: Melbourne, Australia, has seen remarkable progress, climbing six places to secure the 33rd position. Zurich, Switzerland, has also made significant strides, rising ten places to reach #36, marking a substantial year-on-year improvement in Europe.

India’s Position

• India has the third-largest startup ecosystem worldwide, following China and the US.
• India is home to 108 Unicorns with a total valuation of USD 340.80 billion as of May 2023.
• India’s ranking in the global innovation index has significantly improved, from 81st in 2015 to 46th in 2021 among 130 economies.

Terms related to Startups

• Decacorn: A startup with a current valuation of over USD 10 billion.
• Unicorns: Startups founded after the year 2000 with a valuation of USD 1 billion.
• Gazelles: Startups most likely to become Unicorns in the next three years.
• Cheetahs: Startups that could become Unicorns in the next five years.

The Global Startup Ecosystem Report provides valuable insights into the dynamic world of startups, helping stakeholders make informed decisions and foster a thriving entrepreneurial environment.