Global startup ecosystem map and research center, Startup Blink has ranked India at 17 among 100 countries, based on the strength of its startup ecosystem. The top 5 startup ecosystem countries are — the U.S., the U.K., Canada, Israel, and Australia.
According to data released by Startup Blink which tracks startup ecosystems on a number of parameters, 3800 new startups were launched in India during the last year. Overall, Indian startups received $11 Bn of funding through 743 deals in 2018. The sectors which received the most funding were – E-Commerce, consumer services (hyperlocal) and Fintech.
In India, the strong performing cities globally are — Bangalore with 11th position followed by New Delhi at 14, Mumbai at 29, Chennai at 74, and Hyderabad at 75. It is to be noted that, Chennai and Hyderabad registered highest growth in two years as the cities moved more than 100 positions up in comparison with 2017. Delhi increased its ranking from 23 to 18 in 2018, Mumbai also jumped up from 32 to 29 in 2018.
In comparison to its 21st position last year, Bangalore is 11th best city for start-ups in the world ahead of Tokyo, Paris, Moscow, Beijing and Hong Kong, according to the StartupBlink 2019 report.
According to the report, the major challenge for India “will be improving the overall quality of startups, and increasing the number of unicorns than currently exist”.
There are more than 400 US cities on the list, with San Francisco at number 1 spot with a total score of 262 followed by New York, LA, Boston and Chicago all appearing in the top 10. No other country has more than 50 cities appearing on the map, the report says.
In Australia, Sydney takes the crown, coming in at 19th in the world.
The rating methodology considers the number and quality of startups, infrastructure, business climate and public support for innovation.
The report, which considered 1,000 cities and 100 countries, considered not just startups, but also other critical players of the startup ecosystem like co-working spaces, accelerators, investors, leaders, and more.