Startup ecosystems around the world
Oct 14, 2022
New Delhi [India], October 14 (ANI/Mediawire): Today, the start-up ecosystem can be found in every major city around the world. This is because the internet allows start-ups from all over the world to connect and share resources.
United States
The United States has the most developed start-up ecosystem in the world. This is due in part to the fact that it has a large number of start-ups (over 70,000) and a lot of capital available to invest in them. The main drivers of the US start-up ecosystem are high-quality universities, which produce a large number of entrepreneurs, and the presence of major technology companies, which act as mentors and investors for start-ups. Although Silicon Valley is the global epicentre of this ecosystem, other cities such as New York, Boston, and Los Angeles are quickly catching up.
Singapore
Singapore is quickly establishing itself as a start-up ecosystem leader. This is because of strong government support, a large number of investors, and vibrant entrepreneurial culture. Every year, many start-ups establish themselves in Singapore, and the government has prioritized their growth by offering business-friendly tax rates and a slew of tax breaks.
China
China is home to the world's second-largest start-up ecosystem, which is rapidly expanding. This is due to the Chinese government's strong support for start-ups and the implementation of several policies to promote innovation. Aside from that, it has the world's largest population, which provides a large market for start-ups to tap into, as well as some of the best infrastructure and educational institutions, which assist start-ups in obtaining top talent, funding, and market access.
Startup Ecosystem In India
In terms of the number of start-ups and unicorns, India now has the third-largest start-up ecosystem in the world. The country is right behind two global superpowers, the United States and China. The Indian start-up ecosystem has grown exponentially as the number of unicorns has increased and venture capital (VC) inflows have increased steadily. Since 2014, annual VC funding to Indian start-ups has increased eightfold (8.4x), from USD 5 billion in 2014 to USD 42 billion in 2021. Meanwhile, India's unicorn population has increased roughly eighteenfold (17.5x), from 6 to 105. (until H1 2022).
The young population and availability of skilled engineers are the main drivers of the Indian start-up ecosystem. India has a strong entrepreneurial culture as well as an increasing number of investors. In fact, startup funding is expected to remain strong in 2022 and 2023, owing to the government's push to regulate start-up sectors and efforts to stabilize the Indian economy amid a global economic slowdown caused by Russia's invasion of Ukraine. According to Inc42's State Of Indian Startup Ecosystem Report 2022, Indian start-ups are expected to raise USD 33 billion in 2022 and USD 35 billion in 2023, respectively, through 1,692 and 1,527 transactions. Indian start-ups had raised USD 20.84 billion in 1,129 funding deals as of August 31, 2022.
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