If you own a startup, you’ll be familiar with the challenges you’re faced with in different cities and areas within a city.
You might get a lot of options if you open a general store near a residential area. On the other hand you won’t get the necessary traction if you open the same general store in an industrial area or a food street.
Global Startup Ecosystem Report
To make it easier for you to know where to start your business, Startup Genome (a research company) has produced and published their “2017 Global Startup Ecosystem Report”.
The report was produced after evaluating 55 startup ecosystems in 28 countries and 10,000+ startups. The report gathered insights from these ecosystems including;
- Region-specific data which shows the regions current state.
- Rankings and benchmarks based on funding, talent, market reach, corporate involvement, ambition, overall performance, and more.
How Each Region is Ranked
Startup Genome classified the startup ecosystem’s potential into the areas of major factors that affect the growth and sustenance of an ecosystem – the classes are performance, market research, talent, and startup experience.
Silicon Valley holds the first position, dominating the startup ecosystems of the world. It surpassed all ecosystems in Performance, Funding, Market Reach, and Startup Experience. It ranked 2nd in Talent behind Singapore.
Vancouver climbed 3 spots and is now at 15th place while London is ranked at number 3 in the overall rankings. Beijing and Shanghai from China were not assessed before but now hold the 4th and 8th rank respectively.
Stockholm made the biggest jump attaining 14th place. Thanks to its impressive market reach, it has the potential for great startups if the right combination of funding and talent is incorporated.
Top Tier Startup Ecosystems
Silicon Valley, London, and New York are at the top of the list and are the top-tier startup ecosystems. One-quarter of startups in the world have multiple links to London. New York has one in every five startups linked to it (30% are US-based). Only these two ecosystems have an “inbound” global connection attribute.
9 of the top 20 chosen ecosystems are in North America, six are in Europe and the remaining five are in Asia – 45% North American, 30% European and 25% Asian.