Global Rankings & Insights

Selected Analyses

India (APEXE G20 Rank: 4th)

India’s Startup Ecosystems Performance is very high compared to its Innovation Potential, positioning it third in Lab-to-Startup Conversion among the G20. A very high EV/GDP ratio of 10.8% and having three startup ecosystems ranking in the Global Startup Ecosystem Report Top 40 both exemplify this conversion. However, India’s overall APEXE rank is lowered to #4 by relatively low startup Policy Actions.

China (APEXE G20 Rank: 7th)

While the traditional innovation output and quality of China’s top cities is very high, at the country level — with its very large GDP and population — its normalized Innovation Potential is lower than peer average. However, its Startup Ecosystems Performance is above average with, for instance, four ecosystems in the Global Startup Ecosystem Report Top 40. If it fixed key gaps in startup policies, China could contend for a top three APEXE rank.

Germany (APEXE G20 Rank: 9th)

Germany’s normalized Innovation Potential is the highest among the G20. Yet, its Startup Ecosystems Performance is barely above average with, for instance, an EV/GDP ratio of 5.2% and only two Global Startup Ecosystem Report Top 40 startup ecosystems vs. three for Canada. In addition, its startup policies show several important gaps.