Blue Economy Startup Analysis - Singapore Dethrones Silicon Valley as #1
Accelerate Startup Ecosystem Development
Startup Genome is a world-leading innovation policy advisory and research firm, having advised on the ecosystem development strategy and action plans of more than 45 governments.
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Global Startup Ecosystem Report 2022
Since 2012, global average Series A rounds have tripled to more than $18 million.
Since the pandemic, tech companies grew 2.3 times more than their non-tech counterparts.
A record 540 companies achieved unicorn status in 2021, up from 150 in 2020, with 113 ecosystems producing at least one $1 billion+ behemoth.
The same five ecosystems remain at the top of the ranking as in 2020 and 2021, but Beijing has dropped one place, with Boston taking its former place at #4. Silicon Valley is #1, followed by New York City and London tied at #2, Boston at #4, and Beijing at #5.
North America continues to dominate the Global Rankings, with 47% of the top 30 ecosystems. Asia comes in second with 30%.
Seoul entered the global top 10 ecosystems for the first time. Helsinki has risen more than 20 places from last year to #35, Detroit moved up 13 places to #40 and Oslo moved up 16 places to #58.
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London’s tech sector is going from strength-to-strength and I’m proud we’re the tech and innovation capital of Europe. I hope this sends a clear message to aspiring tech entrepreneurs that the capital is a fantastic place to start a business.
Mayor, London, United Kingdom
We are proud to see our city jump 10 spots on the Global Startup Ecosystem Report, and are eager to dig in and do more work so we can continue to climb in the rankings. Tech isn’t the economy of tomorrow, it is the economy today, and by working together with our regional partners, we can ensure that the tech ecosystem in Pittsburgh can create pathways towards prosperity for everyone in our city.
Mayor, Pittsburgh U.S.A.
It is neither Delhi nor Hyderabad! Bengaluru ranks above all in India in the Global Startup Ecosystem Report 2022. This ranking mirrors the confidence entrepreneurs & investors globally have in Namma Bengaluru’s ecosystem. We continue to grow & expand our global footprint.
Minister of Science and Technology, Karnataka, India
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