The GSER 2023 confirms India’s continued growth as a startup nation. The nation has two cities in the top 30 GSER 2023 global rankings and one in the runners-up list, all moving up at least two places from the 2022 report. Mumbai had particularly high growth, climbing an impressive five places due in part to an increase of 60% in the number of exits over $50 million and a jump in unicorns from six to 15.

To create the 2023 rankings, we measured six Success Factors in each ecosystem:

• Performance
• Funding
• Connectedness
• Market Reach
• Knowledge
• Talent & Experience

Each of these factors is assessed and awarded a score of 1 to 10, with 1 being the lowest and 10 being the highest. For more information, please see the Methodology.

Here are the top Indian startup ecosystems.

Learn more about how India compares to other global ecosystems in the GSER 2023.