Which Are the Major Movers in the Top 40 Global Startup Ecosystems?
Each year, we create the Global Startup Ecosystem Report, a comprehensive analysis of the current state of startup ecosystems worldwide. Now in its 11th year, the GSER provides insights into the world’s leading startup ecosystems, emerging trends, and key challenges facing entrepreneurs. It also includes a ranking of the world's leading tech startup ecosystems.
Which tech startup ecosystems have moved up and which have declined in ranking?
When comparing the GSER 2023 ranking to the GSER 2022, some fascinating changes are clear.
- The top three ecosystems have maintained their positions from 2020, with Silicon Valley remaining at the top, followed by New York City and London tied at #2.
- Boston and Beijing have both slipped out of the top five to #6 and #7 respectively, losing two positions each. This has paved the way for Los Angeles to rise to #4 and Tel Aviv to #5, both gaining two spots.
- Singapore has entered the top 10 for the first time, moving up an impressive 10 places to #8 from #18 in the GSER 2022, the biggest improvement in the rankings.
- Miami has also made impressive progress, making it into the top 30 ecosystems at #23, an improvement of 10 positions from last year.
- All major Chinese ecosystems dropped in the overall rankings: Shenzhen moved down 12 places, Beijing two, and Shanghai one, now standing at #35, #7, and #9 respectively.
- Indian ecosystems continue to rise, with Mumbai leading the way by moving up five places to tied #31. Bengaluru-Karnataka and Delhi both moved up two places, to #20 and #24 respectively.
- Melbourne has moved up an impressive six places from last year, to reach #33. The Australian ecosystem experienced a 43% increase in Ecosystem Value, to $25 billion.
- Zurich has made remarkable progress and risen 10 places from last year, entering the top 30 + runners-up at #36, and making the biggest year-on-year improvement in Europe.