According to the Global Startup Ecosystems Report (GSER) 2023, released by policy advisory and research firm Startup Genome, Bengaluru has climbed two spots to reach the 20th position, while Silicon Valley remains at the top. New York City and London are tied for the second spot.
The report, cited by TOI, provides a comprehensive analysis of the world's leading startup ecosystems and highlights emerging trends and challenges faced by entrepreneurs. It reveals that Pune has moved into the 31-40 range in 2023, up from 51-60 in 2022, among the emerging ecosystems. In the rankings, New Delhi secured the 24th position, while Mumbai was ranked 31st. The report also mentions that several Indian cities have made significant progress in the rankings, attributed to India's expanding digital public infrastructure, which has had a transformative impact.
In the Global Startup Ecosystems Report 2022 (GSER-2022), Bengaluru achieved a prominent position as one of the top 15 ecosystems worldwide in terms of funding. Additionally, it secured a place among the top 25 ecosystems globally in terms of performance. Significantly, in 2021, Bengaluru outperformed both Beijing and Shanghai in terms of both the total amount of venture capital raised and the number of funding rounds conducted.
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