Singapore Leads: Discover Asia’s Top Startup Ecosystems

Singapore, Beijing, and Seoul Head the Top 30 Asian Ecosystems in the Global Startup Ecosystem Report 2024
Kelly Wolfgang
on June 21, 2024

The Global Startup Ecosystem Report 2024 includes a list of the top ecosystems by region. The criteria for inclusion in the list are that the ecosystem either needs to be ranked in the Top 40 Global Leaders or Top 200 Emerging Ecosystems or have an Ecosystem Value greater than $200 million.

Top 30 Asian Ecosystems

For information on our Methodology, click here:

Key Findings

Asian ecosystems have shown impressive growth in the Top 40 Global Ecosystems Ranking. Insights include:

  • 10 Asian ecosystems are in the Global Top 40 Ranking.

  • Singapore moved up one spot from GSER 2023, ranking as the #7 Global Startup Ecosystem. The ecosystem created $144 billion in Ecosystem Value, a measure of economic impact, calculated as the value of exits and startup valuations.

  • Tokyo and Seoul made the most significant strides among the Top 10 Global Ecosystems this year. Seoul improved three ranks to #9, its best performance since 2022 when it was #10. In 2023, Tokyo had 11 large exits ($50M+), tied with Boston and behind just Silicon Valley and Tel Aviv for the most among the Top 10 Global Ecosystems.

  • Shenzhen has shown impressive growth, moving up seven spots to rank #28 globally. Hangzhou ranks #36.

  • Bengaluru-Karnataka ranks as the #21 Global Startup Ecosystem (tied with Sydney), having created $158 billion in Ecosystem Value.

  • India has two ecosystems in the Top 40 Global Ranking: Delhi at #24 and Mumbai at #37.

Ecosystem Leaders Celebrate the Rankings

Singapore - #1

“Singapore's ascent as the core of the Pan Asia Startup Ecosystem hub brings together visionary founders and investors to advance Deep Tech- and AI-driven- innovations, cementing its position as a leading force in the region,” says Atsushi Taira, Co-founder and Chairman, The Edgeof, and Managing Director, Mistletoe Singapore.

Tokyo - #4

“Tokyo aims to become the world’s most startup-friendly city with efforts including Tokyo Innovation Base as the center for startups and their supporters and SusHi Tech Tokyo Global Startup Program uniting a global community of participants,” says Keiichi Yoshimura, Director General, Office for Startup and Global Financial City Strategy, Tokyo Metropolitan Government.

Bengaluru-Karnataka - #6

“The Government of Karnataka is committed towards making Bengaluru the best place for founders to start and scale their businesses through conducive policies by the state government,” says Dr. Ekroop Caur, I.A.S, Secretary to Government, Department of Electronics Information Technology Biotechnology and Science & Technology, Government of Karnataka.

A Detailed Look

For more insights, explore our Asian ecosystem pages:

To learn more about ecosystem performance around the world, read the full, free Global Startup Ecosystem Report 2024:

Contact Us

Our data shows that collaboration is at the core of the fastest growing startup ecosystems. We work with forward-looking organizations who understand that joining the global startup economy is key to to drive innovation and spur economic growth.