Bengaluru’s startup ecosystem ranks 20th globally in the Global Startup Ecosystem Report 2023

Insights into the global startup ecosystem are provided by the Global Startup Ecosystem Report 2023 (GSER 2023) which highlights Bengaluru’s ascent to the 20th rank and the amazing development of the Indian ecosystem.

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The most current Global Startup Ecosystem Report 2023 (GSER 2023) from Startup Genome offers a thorough examination of startup ecosystems around the world. The research provides useful insights into the global startup scene by utilising data from millions of businesses across diverse ecosystems. Bengaluru, regarded as India’s Silicon Valley, has climbed two points from the previous year to claim the 20th rank on the list.

Report on the Top Ecosystems for Startups Around the World in 2023

The study emphasises that the top three ecosystems—Silicon Valley, New York City, and London—have kept their rankings as of 2020, securing the top ranks. Los Angeles has moved up to #4 and Tel Aviv to #5, freeing up space left by Boston and Beijing’s expulsion from the top five.

Rise of Miami and Singapore:

Singapore has had a strong showing in the top 10, moving up ten spots to claim the eighth spot. Singapore’s growing significance in the global startup ecosystem is evidenced by this notable improvement. Miami has also made significant progress, rising ten spots to rank #23, solidifying its place among the top 30 ecosystems.

bangalore city
bangalore city

The ecosystems of China

Rankings for important Chinese ecosystems reflect a deterioration. Shenzhen declined by 12 points, Beijing by 2 spots, and Shanghai by 1 spot, placing them at #35, #7, and #9, respectively.

Indian ecosystem expansion:

India’s ecosystems are getting better, with Mumbai leading the way by moving up five spots to tie for third position. The cities of Delhi and Bengaluru-Karnataka each advanced two spots, taking the 20th and 24th spots, respectively. This development is attributed by the research to India’s expanding digital public infrastructure, which has been a major factor in the country’s startup growth.

Future Ecosystems:

Pune, a growing ecosystem in India, has significantly improved since the previous year’s rankings, moving up from 51–60 to the 31–40 range. Pune has the potential to become a thriving startup centre, as seen by this increasing trajectory. Significant improvements have also been made in other Indian cities, reflecting the nation’s overall expansion in the tech industry.

Gains that stand out:

With a six-place increase to take up position 33, Melbourne, Australia, has made impressive progress. Since GSER 2022, the eco-system value of Australia has increased by 43%. The most year-over-year improvement in Europe was accomplished by Zurich, Switzerland, which has also made great progress, moving up ten spots to #36.

Top 10 Startup Ecosystems (According to GSER 2023 Rankings)

1 Silicon Valley

2  New York City

3 London

4 Los Angeles

5 Tel Aviv

6 Boston

7 Beijing

8 Singapore

9 Shanghai

10 Berlin.

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