Karnataka Digital Economy Mission (KDEM) and Startup Genome have teamed up to spotlight Bengaluru-Karnataka’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• Ranking as the #21 Global Startup Ecosystem

• The ecosystem created $158 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 22% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Top 10 Global Ecosystem and #3 Asia Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• Top 25 Global Ecosystem and Top 10 Asia Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• Top 40 Global Ecosystem and Top 10 Asia Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors

• Top 40 Global Ecosystem and Top 20 Asia Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 10 Asia Ecosystem in Knowledge — measures innovation through research and patent activity

• The Fintech, Life Sciences, and Cleantech sectors are highlighted for their density of talent, support resources, and startup activity

• An established tech scene and skilled talent are cited as reasons a startup should move to the ecosystem

"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.

The report highlights Bengaluru has an established tech scene that is home to over 80% of India’s global IT offices. The city’s strategy has attracted venture capitalists and fostered a thriving startup environment, contributing to 40% of India's IT exports and producing 43 unicorns, including Zerodha, Cred, PhonePe, Flipkart and Big Basket. In addition, Bengaluru hosts more than 400 Global Capability Centers out of India's total of 1,500, employs 1.3 million workers, and contributes $33.8 billion to the economy, approximately 1% of India's GDP.

"Entrepreneurs, policymakers, and community leaders worldwide are pushing the limits of possibility – evident in the latest strides in both Life Sciences and Cleantech in Bengaluru-Karnataka," remarked JF Gauthier, Founder & CEO of Startup Genome. "We are thrilled to work with the Karnataka Digital Economy Mission to foster economic growth and global leaders from the region."

For more insights and an overview of Bengaluru-Karnataka’s startup landscape, visit the Bengaluru-Karnataka ecosystem page.