Jun 15, 2022
By: BI India BureauThree Indian cities — Bengaluru, Delhi and Mumbai — made it to the list of top 40 startup ecosystems in the world, according to The Global Startup Ecosystem Report of 2022 by Startup Genome.
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Bengaluru (Bangalore), Karnataka is known as the fastest-growing tech hub. It is also home to R&D centers for top tech majors like Amazon, Microsoft, Facebook and Google.
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India’s national capital Delhi improved its ranking by 11 spots and made it to the list of top 30 startup hubs for the first time. It was also adorned with the title of startup capital of India last year by the Economic Survey of the country.
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Mumbai, Maharashtra too joined Delhi and Bengaluru in the ranking of top 40 startup hubs once again.
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One in two startup hubs — or about 47 percent — in the top 30 list were from North America. It was followed by Asia with 10 listings.
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“India’s ecosystems show overall growth in Ecosystem Value, and collectively Delhi, Mumbai, Bangalore, and Pune generated 25 unicorns between 2019 H2 and the end of 2021,” the report added. Overall, India added close to 82 unicorns since 2019.
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Silicon Valley — based in California, USA — has retained the top spot as the biggest startup hub of the country. Startups based in the region have raised $247 billion between 2017 and 2021.
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New York City and London have tied for the second spot. The raised funding totalling to $88 billion and $68 billion, respectively, between 2017-2021.
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Boston, Beijing and Los Angeles were next in line at the fourth, fifth and sixth ranks, respectively. Boston-based companies raised $51 billion, Beijing-based raised $86 billion and London-based companies raised $39 billion in the last four years.
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Tel Aviv, Shanghai and Seattle were next in line at the seventh, eight and ninth ranks, respectively. South Korean capital Seoul stood at tenth place.
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