Startup Genome’s Global Startup Ecosystem Report (GSER 2025) is powered by the world’s most comprehensive and quality controlled dataset on startup ecosystems. Now in its 13th year, the GSER provides insights into the world’s leading startup ecosystems, emerging trends, and key challenges facing entrepreneurs. It is based on extensive research and analysis of data from 5 million startups across 350+ global ecosystems, combined with over a decade of independent research and providing policy advice to more than 187 economic and innovation ministries and public/private agencies in six continents and over 68 countries. 

Ranking the top global ecosystems and emerging ecosystems, the GSER 2025 provides expert insights into the startup landscape. Startup communities are also examined from a regional perspective, separately ranking ecosystems in Asia, Europe, Latin America, MENA, North America, Oceania, and sub-Saharan Africa.

Initial insights reveal that for the first time in five years, the total value of global startup ecosystems has experienced a sharp decline. This marks a significant break from years of sustained growth, and the shift is closely linked to a downturn in major exits and IPOs. Early insights furthermore suggest unexpected ranking movements in key ecosystems, with a particularly notable trend — the resurgence of multiple Asian ecosystems, driven by unprecedented funding levels and a spike in large-scale exits. Additionally, while AI-driven innovation continues to secure massive investment, its impact on exits remains limited, with much of the capital concentrated in large corporations rather than startups. Meanwhile, the number of newly-minted unicorns has hit its lowest level in years, reflecting a challenging investment landscape for high-growth companies.

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