Despite the ongoing “tech winter” for ecosystems around the world, six Top 40 Ranking Global Ecosystems made huge strides in ecosystem growth. Tokyo, Paris, Miami, Shenzhen, Zurich, and Munich all moved up five or more places in the rankings, reflecting optimism for global recovery to pre-Covid levels.

Insights into the highest jumping ecosystems include:

• Tokyo’s impressive jump of five places to #10 from #15 in the GSER 2023 marks the most significant improvement among the Top 10 ecosystems. In 2023, Tokyo had 11 large exits ($50M+), tied with Boston and behind just Silicon Valley and Tel Aviv for the most among the Top 10 global ecosystems.

• Paris has moved up an impressive four places from last year to reach #14. It is the rare ecosystem that has not had a steep drop in its number of exits since 2021 – its 289 total exits from 2022 to 2023 is 5th most globally.

• After moving up 10 places from 2022 to 2023, Miami moved up another impressive seven places from #23 last year to #16 this year.

• Shenzhen has shown impressive growth, moving up seven spots to rank #28.

• Zurich moved up five ranks to #31 in the GSER 2024. It had five large exits, tied for 8th among European ecosystems.

• Munich moved four ranks to #33 with seven large exits, tied for 5th among European ecosystems.

For more insights into the top performing global ecosystems, read the Global Startup Ecosystem Report 2024.