Global Startup Ecosystem Report 2023: Hot And Not

Republished By Plato

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In the world of tech, change is the only constant. The Global Startup Ecosystem Report (GSER) for 2023 by Startup Genome brings us the latest insights from the global tech scene. Let’s hop on to see what’s going on.

Silicon Valley, New York City, and London have maintained their dominance since 2020, together representing an astounding $4 trillion in Ecosystem Value. However, change is afoot as Boston and Beijing step down from their top-five positions, allowing Los Angeles and Tel Aviv to rise to fourth and fifth place.

Singapore’s meteoric rise

Continuing with the tour, Singapore‘s tech scene has witnessed an astounding ascent, jumping an impressive 10 places to eighth position. This remarkable achievement is driven by a colossal 100% increase in exits of over $1 billion and a significant rise in early-stage deals. Grab, valued at an astonishing $40 billion, leads the way as the highest-valued exit.

Miami’s sunshine state in tech

Aerial view of Miami during sunset by Osmany Mederos (Pexels)

Miami, once known for its beaches and sunshine, is now a thriving tech hotspot. Breaking into the top 30 ecosystems at 23rd place, Miami has surged ahead by 10 positions since the previous year. Notably, it has seen a significant increase in exits exceeding $1 billion and a remarkable uptick in early-stage deals.

India’s tech ascent

The Bandra-Worli Sea Link in Mumbai by Saurabh Parange (Pexels)

India continues to shine in the global tech arena, with Mumbai leading the charge. Climbing five places to secure the 31st position, tied with Salt Lake-Provo, Mumbai’s achievements include a 60% increase in exits over $50 million and Nykaa’s successful IPO at $7 billion. India’s tech dominance is further evident with the rise in unicorns, going from six to 15, contributing to a 57% boost in Ecosystem Value.

Zurich’s remarkable climb

Birds Eye View of Zurich by Marcel Biegger (Pexels)

Zurich, Switzerland’s financial heart, has embarked on a remarkable climb. It ascends 10 spots to make it to the 36th position. The city’s tech scene witnessed an astounding 300% growth in exits of over $50 million. Additionally, new unicorns make their debut, including Blockchain company Dfinity, valued at $9.5 billion. Zurich’s Ecosystem Value has surged by nearly 60% since July 1, 2019.

Emerging Ecosystems

Copenhagen, Denmark. Low Angle Photography of Airplane by Sushil Ghimire (Pexels)

The GSER 2023 report also shines a light on emerging tech ecosystems worldwide. Europe is stepping up its game, accounting for 41% of the top 100 emerging ecosystems. Copenhagen leads the pack among emerging ecosystems, with a 29% increase in Ecosystem Value. Barcelona has moved up five positions, and Estonia has risen a whopping 28 spots.

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