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1、ECOSYSTEM REPORTLEARN MORE AND GET CONNECTED ATSTARTUPGENOME.COM2024THE GLOBAL STARTUPPowered by the worlds most comprehensive dataset on startup ecosystems.01 05 Introduction06 About Startup Genome11 About Global Entrepreneurship Network12 About Our Global Partners14 A Note From a Founder16 A Note

2、From Global Entrepreneurship Network 02 18 Global Insights&Rankings19 The State of the Global Startup Economy 27 The Future is Here:Navigating an AI-Driven World30 Global Startup Ecosystem Ranking 2024 (Top 40)42 Emerging Ecosystems Ranking 2024 (Top 100)46 Regional RankingsContents 03 49 Regional I

3、nsights50 Asia 51 Tokyos Dynamic Ecosystem Propels Tech Startups into Global Success54 Yokohama:Bringing the World Together through Green Transformation56 Ecosystem Pages 105 Europe 106 Unraveling Azerbaijan:From Oil Empire to Eurasian Tech Hub 109 Copenhagen Emerges as a Top Global Fintech Hub112 G

4、eorgia:The Rising Star of Startup Innovation at the Crossroads of Europe and Asia114 Malta:The Mediterranean Island Powering Large-Scale Startup Dreams116 Ecosystem Pages160 Latin America161 Ecosystem Pages180 MENA181 Ben Guerir:An Ideal Tech Hub for Global Innovators183 Ecosystem Pages210 North Ame

5、rica211 Indiana Poised to Showcase Its Startup Ecosystem at 2025 Global Entrepreneurship Congress214 Ecosystem Pages 258 Oceania 259 Ecosystem Pages275 Sub-Saharan Africa 276 Ecosystem Pages 04 292 Methodology,References&Acknowledgments293 Methodology300 References304 AcknowledgementsTHE GLOBAL STAR

6、TUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been pre

7、pared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMEcosystem Pagesby RegionASIA56 Beijing59 Bengaluru-Karnataka63 Kerala67 Kuala Lumpur71 Manila

8、75 Seoul79 Shanghai82 Shenzhen85 Singapore89 Sri Lanka93 Tamil Nadu97 Telangana101 TokyoEUROPE116 Berlin119 Belgrade and Novi Sad123 Budapest127 Greater Lausanne Region131 Istanbul135 London138 Mid-East Region,Ireland142 Paris145 Stockholm148 The Netherlands152 Turin156 ValenciaLATIN AMERICA161 Bogo

9、t164 Buenos Aires167 Crdoba171 Mexico City174 Rio de Janeiro177 So PauloMENA183 Abu Dhabi187 Bahrain191 Muscat195 Palestine198 Sharjah202 Tel Aviv206 TunisiaNORTH AMERICA214 Austin217 Boston220 Calgary224 Chicago227 Edmonton231 Los Angeles234 Montral238 New York City242 Philadelphia246 San Diego249

10、Seattle252 Silicon Valley255 Washington,D.C.OCEANIA259 Adelaide263 Brisbane267 Melbourne271 SydneySUB-SAHARAN AFRICA276 Accra279 Addis Ababa283 Johannesburg286 Lagos289 NairobiTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do n

11、ot reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot b

12、e offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMIntroduction01 About Startup Genome About Global Entrepreneurship Network About Our Global Partners A Note From a Founder A Note From Global Enterpreneurship Network0611121416LEARN MORE AND GET CONNECTE

13、D AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Star

14、tup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than 05Now in its 12th year,the GSER provides insights into the worlds leading startup ecosystems,emerging tre

15、nds,and key challenges facing entrepreneurs.It is based on extensive research and analysis of data from 4.5 million startups across 300 global ecosystems and over a decade of independent research and providing policy advice to more than 160 economic and innovation ministries and public/private agenc

16、ies in over 55 countries.The Global Startup Ecosystem Report 2024(GSER 2024)is a comprehensive analysis of the current state of startup ecosystems worldwide.With the GSER 2024,we hope to provide valuable perspective on the global startup landscape and actionable recommendations for entrepreneurs,inv

17、estors,policymakers,and other stakeholders looking to drive innovation and economic growth even in these challenging times.4.5 millionSTARTUPS300GLOBAL ECOSYSTEMS10+yearsINDEPENDENT RESEARCH167CLIENTS55COUNTRIES6THE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights R

18、eserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as prof

19、essional advice.This report cannot be offered for download on any website other than 0106INTRODUCTION01LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMAbout Startup GenomeStartup Genome is the world-leading innovation ecosystem development organization,having worked with more than 160 economic and

20、innovation ministries and public/private agencies in over 55 countries.We work to catalyze startup success and ecosystem growth and ensure that all cities and countries capture their fair share of the new economy.Our evidence-based ecosystem research,advisory,and scaleup programs are rooted in globa

21、l experience with the worlds largest AI-curated startup dataset and proprietary instruments developed from over a decade of primary research.7Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any ot

22、her electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP ECOSYS

23、TEM REPORT 202401INTRODUCTION07THE GLOBAL STARTUP ECOSYSTEM REPORT 2024LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMCrdoba,ArgentinaAdelaide,AustraliaBrisbane,AustraliaMelbourne,AustraliaNew ZealandSydney,AustraliaVictoria,AustraliaNORTH AMERICABoston,USACalgary,CanadaDetroit,USAEdmonton,CanadaG

24、reater Sacramento,USAIndiana,USAMississippi,USAMontral,CanadaNew York City,USA Philadelphia,USAPittsburgh,USAQuebec City,CanadaLATIN AMERICASUB-SAHARAN AFRICAOCEANIAAddis Ababa,EthiopiaAngolaEUROPEAzerbaijan Belgrade and Novi Sad,Serbia Budapest,HungaryCopenhagen,DenmarkEstoniaGeorgiaGreater Lausann

25、e Region,Switzerland Helsinki Metropolitan Area,Finland Istanbul,TrkiyeLithuaniaLuxembourgMaltaMetro Rhein-Ruhr,GermanyMid-East Region,IrelandPortugalSwedenThe NetherlandsTurin,ItalyValencia,SpainMENAAbu Dhabi,UAEBahrainBen Guerir,Morocco Cairo,EgyptDoha,QatarMuscat,OmanSharjah,UAETel Aviv,IsraelTun

26、isiaASIABengaluru-Karnataka,India Fukuoka,JapanKerala,IndiaKuala Lumpar,Malaysia Manila,Philippines Odisha,IndiaSapporo,JapanSeoul,South Korea SingaporeSri LankaTamil Nadu,India Telangana,IndiaTokyo,JapanYokohama,JapanStartup Genome Global NetworkCopyright 2024 Startup Genome LLC().All Rights Reserv

27、ed.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professio

28、nal advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED ATSTARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 20240801INTRODUCTIONWe work with forward-looking governments and private sector organizations to accelerate the success of their startup

29、 ecosystems to fuel the growth of more startups,sustainable economic growth,and job growth.Establishing a global network of innovation policymakers in 50+countries Providing access to the latest research and policy best practices,and facilitating shared learning Organizing member meetings and leader

30、ship workshops for networking and collaboration Enhancing ecosystem visibility and strategic positioning Focusing on attracting entrepreneurs,talent,and investors through targeted efforts Achieving global reach through our reports,events,and media outreach Utilizing renowned frameworks and data scie

31、nce capabilities for decision-making Assessing ecosystem performance and strengths through data analysis Benchmarking against peers for competitive advantage and growth opportunities Developing strategies for ecosystem development and differentiation Conducting scenario modeling to determine economi

32、c impact Creating clear and aligned-upon multi-year roadmaps for implementation Supporting local leadership in executing key policies and programs Measuring and reporting the impact of initiatives Delivering services in collaboration with global thought leadersOur ServicesKnowledge ExchangePositioni

33、ngAssessmentStrategyExecutionWant to speak with someone from our team to find out more?Contact Adam Bregu,Head of Growth,at Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or

34、physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENO

35、ME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 20240901INTRODUCTIONOur data-driven reports showcase startup ecosystems around the world and take a closer look at specific areas of technology.They offer unique insights and expert opinions alongside rankings and data interpretation.Discover More in Our Oth

36、er Reports01INTRODUCTIONCopyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prep

37、ared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 202401001INTRODUCTIONThe Global Entrepreneurship Network o

38、perates programs in 200 countries aimed at making it easier for anyone,anywhere to start and scale a business.By fostering deeper cross-border collaboration and initiatives between entrepreneurs,investors,researchers,policymakers and entrepreneurial support organizations,GEN fuels healthier start an

39、d scale ecosystems that create more jobs,provide education,accelerate innovation,and strengthen economic growth.GENs comprehensive global footprint of national operations and global verticals in policy,research and programs ensures members have uncommon access to the most relevant knowledge,networks

40、,communities,and programs relative to size of economy,maturity of ecosystem,language,culture,geography and more.01INTRODUCTIONAbout Global Entrepreneurship NetworkCopyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,websi

41、te download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE

42、GLOBAL STARTUP ECOSYSTEM REPORT 202411THE GLOBAL STARTUP ECOSYSTEM REPORT 2024LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMCrunchbase is the leading platform for professionals to discover innovative companies,connect with the people behind them,and pursue new opportunities.Every day investors,jo

43、urnalists,founders,and the global business community turn to Crunchbase for information on startups and the people behind them.Dealroom.co is a global provider of data and intelligence on startups and tech ecosystems.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent inv

44、estors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital activity.Our mission is to accelerate entrepreneurship&innovation through data for governments,corporates and VCs,founders.Bella Private Markets is a consulting and advisory firm focuse

45、d exclusively on providing solutions to the challenges facing the private capital industry.Led by Dr.Josh Lerner of Harvard Business School,Bella works closely with the senior management of among others private equity groups,venture capital firms,and institutional investors on complex,customized pro

46、jects.Our approach combines a rigorous academic perspective with real world industry expertise to provide our clients with actionable insights to improve performance and optimize operations.About Our Global Partners01INTRODUCTION0112Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(J

47、une 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.Thi

48、s report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024London&Partners is the business growth and destination agency for London.Our mission is to create economic growth that is resilient,sustainable,a

49、nd inclusive.We are a not-for-profit company and operate as a social enterprise,half funded by the Greater London Authority(GLA)and half from other sources including our portfolio of commercial ventures.Informa Tech connects,informs and inspires the business technology community to build a better,mo

50、re sustainable world and start conversations that matter.Through our in-depth expertise and engaged audience community,we help business professionals make better technology decisions and marketers reach the most powerful tech buyers and influencers in the world.Founders Forum Group is a global commu

51、nity and group of businesses empowering entrepreneurs at every stage of their journeys.Our community includes the worlds most inspiring founders,pioneering investors,inventive CEOs,and impactful leaders.Together,we champion entrepreneurial innovation and put the needs of todays founders first,via ne

52、tworking&events,education,professional services,investment and philanthropy.01INTRODUCTION0113Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the pri

53、or written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSY

54、STEM REPORT 2024A Note From a FounderJF GAUTHIERFounder and CEO Startup Genome“History tells us that those who invest during or immediately after a downturn reap the highest benefits.Now is the time to start building,capitalizing on the unique opportunities that arise in times of transition.”14Copyr

55、ight 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informationa

56、l purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 202401INTRODUCTIONWhether you are an entrepreneur,investor,policymaker,or ecosystem bui

57、lder,our team proudly offers the GSER 2024 to help you contribute to and benefit from the global startup community.As we present Startup Genomes 2024 Global Startup Ecosystem Report,we find ourselves at a pivotal moment in the tech world.The rapid growth of generative AI has been transformative,rais

58、ing both exciting prospects and important concerns.Ethical AI is at the top of our minds,but the re-concentration of global startup ecosystems is also an essential issue for us,considering our mission to ensure every city and country captures its fair share of the new economy.Silicon Valleys renewed

59、 dominancewith San Franciscos Mission District attracting top AI talent in a new gold rushprompts questions about global equity in innovation.Yet,the broader perspective offered by our global work also makes us optimistic,as we find remarkable AI models and startups emerging worldwide,from Abu Dhabi

60、 to Montral,Tokyo to Bangalore.These diverse ecosystems are thriving,demonstrating that groundbreaking technology knows no borders.Another crucial trend is the increasing commitment of entrepreneurs and ecosystems,with the support of governments,to address the climate crisis.Cleantech has emerged as

61、 the only growing startup sub-sector besides AI.This response to urgent environmental challenges underscores the potential of startups to develop solutions and drive substantial global change,not only in technology,but also in sustainability.Thankfully,along with our economies,global startup ecosyst

62、ems are on the brink of a new growth cycle.A slight yet significant uptick in investments in the first quarter of 2024 suggests that we may have reached the bottom of the recent funding downturn.History tells us that those who invest during or immediately after a downturn reap the highest benefits.N

63、ow is the time to start building,capitalizing on the unique opportunities that arise in times of transition.Finally,we have undeniably entered the era of scaleups.Governments worldwide recognize that their long-term investments in startup ecosystems will only pay off if their homegrown startups succ

64、eed globally.This necessitates global mentorship and commercialization support from governments and startup communities.The Startup Genome Scaleup Report provides a compass to navigate the characteristics and strategies that enable startups to scale globally.For instance,our global research shows th

65、at early-stage startups with a majority of foreign customers are more than twice as likely to reach valuations exceeding$50 million and become unicorns.Whether you are an entrepreneur,investor,policymaker,or ecosystem builder,our team proudly offers the GSER 2024 to help you contribute to and benefi

66、t from the global startup community.Looking forward to a new cycle of growth,JF and the Startup Genome Team15Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means

67、without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP ECOSYSTEM REPORT 202401INTRODUCTION15LE

68、ARN MORE AND GET CONNECTED AT STARTUPGENOME.COMThe Global Entrepreneurship Network(GEN)is delighted to continue its longstanding collaboration with Startup Genome,marking the ninth consecutive year of our joint publication.We invite you to delve into the reports findings to engage with the data and

69、trends that we use in designing and improving programs,policies,and strategies to unleash innovation and opportunity around the world.Entrepreneurs Navigate the VC WinterIt will come as a shock to no one that the waters entrepreneurs operate in are far choppier than in recent years.Global conflict,i

70、nflation,and the threat of recession have undoubtedly left their dent on the volume and value of deals in 2023.Yet longtime observers of the global startup ecosystem will attest that trouble is opportunity and that often,the most skilled entrepreneurial minds thrive in times of austerity where they

71、innovate to overcome barriers that seem insurmountable to others.01JONATHAN ORTMANSFounder and President Global Entrepreneurship Network(GEN)“Creating more entrepreneurs is the most important thing that we can do as an ecosystem of enablers and policymakers.”A Note From Global Entrepreneurship Netwo

72、rk16THE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This ma

73、terial has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMINTRODUCTIONThe past year has been a testament to the tenacity of entrepre

74、neurs worldwide,who have navigated through the“VC Winter”with the same spirit of innovation that has always been the hallmark of this vibrant community.In the face of decreased funding,startups have continued to push the boundaries of possibility,proving that even during economic downturns,the seeds

75、 of progress are sown.Concentrating on the Technological Revolution Scientist Roy Amara once said,“Technological revolutions are invariably overestimated in the short term and underestimated in the long term.”Many are predicting this to be the case with AI,where the long term work being conducted co

76、uld far outweigh the initial bang created by ChatGPT.Indeed,the data shows that while funding has decreased overall,investors consolidated around critical sectors such as generative AI and Cleantech in 2023.This level of discipline and precision is essential from entrepreneurs,investors,and policyma

77、kers alike in this challenging environment.Smaller Ecosystems ThriveWe created the Global Entrepreneurship Network to spread entrepreneurial culture to all communities across the globe.My belief now as it was then is that no single culture or ecosystem has a monopoly on good ideas and,more important

78、ly,that every person excluded from entrepreneurship is a loss to the entire global community.Big ecosystems have led for many years,but a new picture is emerging that shows our mission is bearing fruit with an increased proportion of funding going to ecosystems outside of the Top 10.Creating more en

79、trepreneurs is the most important thing that we can do as an ecosystem of enablers and policymakers.Entrepreneurs are naturally attracted to the most important challenges of the day and seek to apply the best ideas and technologies for solutions.The progress we make on these issues in the next decad

80、e will determine the success of the next 100 years and beyond.The prize is finding solutions to global needs faster.It is why we stay the course and work day and night to build an environment where ordinary citizens are empowered to become entrepreneurs and to flourish in healthy,advancing ecosystem

81、s.I hope this report will also provide you with insights about how to contribute to this crucial mission.Entrepreneurs are naturally attracted to the most important challenges of the day and seek to apply the best ideas and technologies for solutions.The progress we make on these issues in the next

82、decade will determine the success of the next 100 years and beyond.0117THE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical mean

83、s without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than INTRODUCTIONLEARN MORE AND GET CONNECTED AT STARTUPGENOM

84、E.COMGlobal Insights&Rankings02 The State of the Global Startup Economy The Future is Here:Navigating an AI-Driven World Global Startup Ecosystem Ranking 2024(Top 40)Emerging Ecosystems Ranking 2024(Top 100)Regional Rankings192730424618THE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup G

85、enome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and

86、 is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMThe State of the Global Startup Economy2023 was a year of conflicting stories for the global startup economy.When inflation eased in most regi

87、ons and global GDP grew more than expected,many were optimistic that growth would return at the end of 2023 and in early 2024.Instead,the tech winter endured,with exits and funding showing no signs of recovery toward pre-Covid levels.Yet there are plenty of positive stories as well,particularly for

88、early-stage startups.While global Series A funding fell 46%in 2023 compared to 2022,average Series A deal size increased in H2 2023 compared to H2 2022.Q1 2024 shows signs of further improvement.The Cleantech and Generative AI(GenAI)sub-sectors offer another positive note,demonstrating that frontier

89、 innovation can still attract investor enthusiasm regardless of global funding conditions.02GLOBAL INSIGHTS&RANKINGSGlobal Startup Ecosystem Faces Challenges Amid Exit Slowdown and Funding ConcernsIn a strong global startup economy,large exits($50 million+)free up financial and human capital that ca

90、n support newer ventures.Conversely,in a tighter exit environment,capital and talent remain locked in for longer instead of moving on to their next venture.The exit slowdown therefore diminishes ecosystem growth potential as early-stage startups struggle to secure adequate funding and late-stage sta

91、rtups languish,having to decide if they should try to secure another round in the current down funding climate or exit early at a lower valuation.This has been the landscape for exits since Q1 2022 when stock markets started declining.The annual value of large exits decreased 86%in 2022 compared to

92、2021,followed by a 47%decrease in 2023 compared to 2022.However,the value of large exits has shown some signs of improvement in Q1 2024.19Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other

93、electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED

94、AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 202402GLOBAL INSIGHTS&RANKINGSTwo years of underwhelming performance has taken its toll on investors.When a period of weak exit activity is sustained,VCs tend to become more conservative.With less available capital and concerns about future exi

95、t viability,investors are more demanding,asking for stronger fundamentals or a clearer path to profitability.This results in startups closing Series A rounds at a later age.In 2019,only 18%of Series A deal startups were between six and nine(6-9.9)years old,but by 2023 this increased to 31%.The media

96、n age of startups that secured a Series A deal was 3.4 years old in 2019,but moved to 4.2 years old in 2023.Though the age of startups that obtained Series A deals began skewing older before 2022,this trend has accelerated over the last two years in top global ecosystems.Among the top three 2024 GSE

97、R ecosystems Silicon Valley,New York City,and London 25%of Series A deals startups were between six and nine years old in 2023,up from just 15%in 2019.This shows that the early-stage VC crunch is being felt in even the best resourced ecosystems.This is really interesting data which I think reflects

98、three trends.One is companies are raising much larger seed rounds,which gives them a long runway before needing to raise Series A.The second is that many VCs are looking only for perfection at Series A,with perhaps unrealistic expectations of companies which are still early.Finally,there is a differ

99、ent mindset post-2022 where many founders want to get to default alive earlier in the companys journey.”Rob Moffat,Partner,Balderton Capital20Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any ot

100、her electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNEC

101、TED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 202402GLOBAL INSIGHTS&RANKINGSThe Global Startup Ecosystem in 2024:Reasons for OptimismThe dizzying funding heights of 2021 are unlikely to return in the near future;ecosystem stakeholders should adjust their expectations accordingly.Howeve

102、r,this does not mean that the global startup economy is stuck in continual decline.Conditions have stabilized and are starting to show signs of improvement,with Series A and exits beginning to go up.Simultaneously,history suggests that VCs that recognize the first-mover advantage of a more bullish a

103、pproach may reap higher returns compared to those who remain conservative.Generative AI might lead the way.Acquisitions of AI startups like Run:ai,Manta,and nod.ai by large public companies in late 2023 and early 2024 are positive signals.Additionally,the post-IPO financial success of the AI hardwar

104、e company Astera Labs has broken a recent streak of underwhelming IPOs of VC-backed startups.While these deals would not be enough on their own to trigger significant global capital availability,they can boost investor sentiment that better days are ahead.One sign of improving conditions is Series A

105、 funding amount,which is on track to increase 18%from Q4 2023 to Q1 2024.Encouragingly,investor sentiment also appears to be improving.An April 2024 Kauffman Foundation survey of 200 firms,two-thirds of which were based in the U.S.,found that 53%of respondents planned to increase their number of inv

106、estments in 2024,while only 6%expect to decrease their deals.What advice are you giving early-stage founders right now?First,build solid products before raising and scaling.Focus on getting Product-Market Fit with one specific client.Get the best advisors and angels on board to help design your fund

107、ing strategy and to help you set up your organization for scaling.”Constantijn van Oranje,Special Envoy,TechleapQ1 2024 Series A funding amount estimated due to data lag in global databases21Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribu

108、te the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on

109、 any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024New Unicorns Decline but Show Signs of Recovery in Q1 2024Unicorns are startups that have achieved a valuation of$1 billion before exiting.In 2023,the number of newly-minted unicorns cont

110、inued its downward slide from the previous year.2023 saw 58%fewer new unicorns than 2022,and 87%fewer than the unicorn peak of 2021.However,there was a slight uptick in unicorns in Q1 2024,with 25 new unicorns the most since Q4 2022.02GLOBAL INSIGHTS&RANKINGSWe also note the changing nature of start

111、up sub-sectors and investor preferences.In 2023,more than half of new unicorns were in the GenAI and Deep Tech sub-sectors,a higher rate than 2021.Deep Tech startups require more capital at earlier stages to develop their products which,combined with the global excitement around GenAI startups,is le

112、ading to bigger deals and higher valuations.The participation of corporate venture capital(CVC)at the early stages also tends to boost startup valuations as it implies the immediate business case applicability of these frontier technologies.While CVC participation in startup funding is up slightly o

113、verall,large firms have been involved in some of the highest-profile Deep Tech of the last couple years.Some examples include the French GenAI startup Mistral.ai,which received funding from Microsoft and BNP Paribas,and Eavor,the Calgary-based geothermal Cleantech startup that was backed by BP Ventu

114、res and OMV.As in the past,the U.S.led all countries in new unicorns for 2023,with 57%of the global share.This was up slightly from 2022 when it had a 52%share.Though the total number is down,China nearly doubled its global share of new unicorns,from 6%in 2022 to 11%in 2023.The country attribution o

115、f each unicorn is based on where the startup is headquartered.With 15 unicorns,Silicon Valley again led all ecosystems for the most new unicorns in 2023,though this was down 80%from 2022.The Tashkent,Lyon,and Rhineland startup ecosystems welcomed their first unicorns in 2023.For Tashkent,this was th

116、e Ecommerce platform Uzum;for Lyon,the battery producer Verkor;and in Rhineland,the AI translation service DeepL.22Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical

117、means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE

118、 GLOBAL STARTUP ECOSYSTEM REPORT 202402GLOBAL INSIGHTS&RANKINGSPositive Startup Sub-Sector Stories for 2024While startup funding was down in 2023,there were several positive sub-sector stories.The Cleantech and GenAI sub-sectors proved resilient,outperforming peer sub-sectors even as they tend to be

119、 more capital-intensive than traditional software startups.Cleantech Sub-Sector Shows Growth Amid Global Funding ChallengesCleantech startups provide sustainable solutions in the fields of energy,water,transportation,agriculture,and manufacturing.Having experienced a previous peak in 2018,the sub-se

120、ctor has re-emerged,showing late-stage growth in H2 2023.This is a promising sign given the capital and innovation needed to combat the climate crisis.While late-stage Cleantech funding has not yet fully recovered to its 2021 peak,it has proven incredibly resilient compared to other sub-sectors,incl

121、uding ones that far outraised Cleantech in absolute funding in recent years.Late-stage Cleantech startups raised 2.5x more funding in H2 2023 than in H1 2020 a steeper increase than Advanced Manufacturing&Robotics.23Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do n

122、ot reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot b

123、e offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Europe Leads Early-Stage Cleantech Funding,Driven by EU Policies and Initiatives The success of Cleantech is also a regional story.Unlike most other sub-sectors t

124、hat tend to be dominated by U.S.startups,Europe has taken the lead on early-stage Cleantech funding.When combined,the three most active Cleantech countries of Europe the U.K.,France,and Germany have overtaken the U.S.and China.These“Euro Leaders”increased their Cleantech Series A funding 02GLOBAL IN

125、SIGHTS&RANKINGSCleantech startups,finance providers,and forward-thinking corporates globally are looking to the EU for climate innovation policy best practice in themes including circular economy,sustainable finance,and carbon accounting.Lucy Chatburn,Principal,Ecosystem Consulting,Cleantech Groupam

126、ount by nearly 50%in 2023 compared to 2021,while China and the U.S.decreased by 40%and 20%,respectively,over this time.Globally,about 15%of Cleantech Series A funding went to startups located in the Euro Leaders,compared to just 4%in both the U.S.and China.The advancement of European Cleantech start

127、ups reflects the EUs longstanding commitment to driving innovation through policy.For example,the cap-and-trade Emissions Trading System,introduced in 2005 and set to be expanded in 2027 presents added compliance costs,but also created a market for startups that develop carbon reduction solutions fo

128、r corporations.The EUs Horizon program,running from 2021 to 2027,supports Cleantech startups through funding initiatives such as the LIFE program,which has co-financed more than 5,000 projects helping Europe to become greener.While the U.S.still devotes the most total VC funding to Cleantech startup

129、s,its lead has slipped relative to Europe and China.This may reverse in the coming years,however,as funds from the Biden Administrations Inflation Reduction Act make their way to investment-ready startups.Starting in 2023,the act has allowed startups and small businesses to claim up to$500,000 in R&

130、D tax credits for research-intensive activity including Cleantech.In March 2024,the Biden Administration announced a$6 billion investment into industrial decarbonization for Cleantech companies and startups to develop these technologies.Numerous other Cleantech policies exist globally,ranging from f

131、unding programs like Canadas Breakthrough Energy Solutions Program,which has funded many successful Cleantech startups such as CarbonCure and BIOME,to regulatory measures such as Singapores 2023 Green Economy Regulatory Initiative sandbox.The proliferation of climate policies is providing special su

132、pport to the Cleantech sub-sector.GenAI Startups Surge in 2023,Capturing 18%of Global VC FundingOne of the major startup stories of the past year was the surge of GenAI.The data certainly supports this narrative:in 2023,18%of all VC funding went to GenAI-focused startups.Even as global funding was d

133、own,GenAI had its best funding year to date by far.Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.

134、This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 20242402GLOBAL INSIGHTS&RANKING

135、S25GenAI VC funding increased 3x in 2023 compared to 2022.Deal counts nearly doubled.While this surge in AI funding was the result of several factors,the release of ChatGPT 3.5 for the general public on November 30,2022 served as a launch point for the year to come as investors and enthusiasts alike

136、 turned their attention to this cutting-edge technology.However,the story of GenAI is also one of increasing concentration,at least over the last two years.In 2023,U.S.-based GenAI startups increased their share of all VC deals to 65%,an increase from 57%in 2022.How much this concentration continues

137、 will be one of the biggest startup questions in coming years.Countries such as France with Mistral.ai are hoping their ecosystems can secure a piece of this surging market.Governments Around the World Grapple with GenAI Regulation As world leaders start to grasp the potential of this new technology

138、,it is becoming an increasing concern for both domestic and global politics.This may place some GenAI startups in a difficult position as these considerations fall beyond the scope of the typical startup business model.The emergence of national strategies for GenAI startups indicates that more gover

139、nments are grasping the importance of competing in this space.On March 13,2024,the European Parliament passed the Artificial Intelligence Act(AI Act),the worlds first comprehensive legal framework for AI.The AI Act will soon ban prohibited GenAI activities such as social scoring and the use of real-

140、time biometric data for all EU countries.It will also establish codes of practice and obligations for high-risk systems around risk management,data security,human oversight,and transparency.Non-EU startups will also need to comply with this regulation.Before its passage,European founders expressed c

141、oncern that the proposed AI Act would slow innovation and place them at a disadvantage compared to U.S.firms.However,it is too early to determine the acts impact as some of its requirements wont be finalized for another few years.The U.S.has not yet implemented comprehensive AI legislation.On Octobe

142、r 30,2023,President Biden announced an executive order containing some guidance for a coordinated federal AI strategy,but most existing legislation has come from individual states.Meanwhile,China has implemented several specific AI regulations,including the Generative AI Regulation,which came into e

143、ffect on August 15,2023.It is now Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has

144、 been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP ECOSYSTEM REPORT 2024LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COM02GLOBAL INSIGHTS&RANKINGSin the process of

145、drafting a more comprehensive AI law.The Chinese government has drafted an advisory version of this future law,which includes a“negative list”of AI products that companies should avoid unless they have explicit government approval.Although China has previously signaled it may crack down on AI techno

146、logy,some of its recent language has softened in response to public feedback and concern that excessive regulation could limit the economic benefits of the technology.Other countries have taken a more proactive AI development strategy.For example,Abu Dhabi and Saudi Arabia recently pledged$100 billi

147、on and$40 billion,respectively,to invest in AI technology,including startups.These strategies include incentives to attract AI startups to relocate to their countries.Given all the investment,the GenAI space is poised to continue at its recent pace well into 2024 and beyond.Top Startup Ecosystems Do

148、minance Declines as Emerging Ecosystems Capture Larger Share of Series A FundingFrom Startup Genomes first GSER in 2012,the dominance of top startup ecosystems has been evident across all metrics.These leading ecosystems consistently held the lions share of funding resources,flexing their strengths

149、and attractiveness to investors and entrepreneurs alike.However,recent years have witnessed a shift in this dynamic.In 2023,the Series A funding amount share for Top 40 Ranked GSER 2024 ecosystems was 65%,down from 79%for these ecosystems in 2019.Comparatively,the share of Series A funding amount fo

150、r the Top 100 Emerging Ecosystems reached 19%in 2023 vs.13%in 2019.This is a very encouraging development,in line with Startup Genomes mission for all ecosystems to capture their fair share of the new economy.The startup revolution continues to spread,enabling entrepreneurs all over the world in way

151、s not possible just a few years ago.26Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material

152、 has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 202402GLOBAL INSIGHTS&RANKINGSThe Future is

153、Here:Navigating an AI-Driven WorldAn Interview with Daniel Doll-Steinberg,Co-Founder and Partner of EdenBaseWe are in the midst of an exponential technological revolution fundamentally transforming every aspect of society,business,and governance as we know it.As a technology entrepreneur,investor,an

154、d author,Daniel Doll-Steinberg has seen firsthand how emerging technologies such as artificial intelligence,quantum computing,Blockchain,and metaverse/immersive tech are ushering in a new era that he calls the“cognitive revolution.”Startup Genome interviewed Daniel to hear more about his experience

155、and the insights laid out in his 2023 book,“Unsupervised:Navigating and Influencing a World Controlled by Powerful New Technologies.”Startup Genome:Youve called our current technological era a“cognitive revolution,”preferring that term over the more often used“next industrial revolution.”Can you ela

156、borate on that distinction?Daniel:The concept that we are entering a new industrial revolution Industry 4.0 is a misnomer.We are instead continuing on a trajectory initiated with the personal desktop computer in 1973.This development marked a significant shift,bringing the power of personal computer

157、ization into personal and professional spaces and setting the stage for the exponential growth in technology weve observed over our lifetime.The internet,Ecommerce,Blockchain,and now,AI,have been the next logical steps in the sequence that started with the PC.However,we are just now beginning the se

158、ction of the curve of exponential technological growth where it starts to match our cognitive abilities.As humans,we tend to think of progress as linear,and many of the institutions we have built to manage technological change conceived during the Industrial Revolution reflect that linear view.They

159、will be too slow to harness the vast potential of these new technologies and ill-equipped to make informed judgments on how best to regulate them.In the meantime,we will suffer a constant stream of buzzwords,like AI,metaverse,and quantum,that mask what is truly happening underneath the structures,pr

160、ocesses,and governance weve built over the last two centuries.Startup Genome:You co-founded the investment firm EdenBase.What were your motivations,and what opportunities did you spot?What problems are you seeking to solve?Daniel:EdenBase emerged from recognizing the vast uncertainties around the fu

161、ture of technology,coupled with a keen understanding of the ethical implications inherent in who is building tomorrows innovations.We focus on creating ecosystems of diverse values,views,and perspectives among both our investing partners and the founders we fund,allowing us to spot opportunities and

162、 check assumptions through a wide range of perspectives.Because we never know what new technologies will emerge,and what their true impacts will be,we initially take a binary approach to reduce investing risks.We look at criteria we can answer“yes”or“no”to,such as if they have a solid team,dedicated

163、 customers,financial stability,and innovative product offerings.When the answer is“yes”to these questions,they will more likely overcome the short-term fluctuations in the technology hype cycle.We then work with the founders to understand how their products can solve the future 27Copyright 2024 Star

164、tup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes onl

165、y and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP ECOSYSTEM REPORT 2024LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMproblems and address future opportunities these technologies will present.The partners of EdenBas

166、e invest in asking themselves and their founders not just how the industry will change,but how the base level structures of law,finance,and education will look by 2035.The companies we invest in thus define what they want to deliver to their customers today while realizing there is an entirely diffe

167、rent future coming.Startup Genome:Do you have a few examples of companies youve funded where you introduced AI/Frontier Tech to their business model?Daniel:EdenBase makes selective yet strategic investments in companies poised to redefine their sectors.By 2040,Frontier Technologies will be thousands

168、 of times more powerful than they are today,and many innovators are trying hard to create new,superior designs.For instance,Amazons R&D investment is greater than the total GDP of 40 countries.Looking ahead,EdenBase is currently eyeing investments in banking and travel,signalling a broader vision th

169、at transcends industry boundaries to reimagine the future of finance,law,storytelling,and education by 2035.This approach reflects a pivotal transition from an industrial to a cognitive world,inviting startups to envision products and services within a future where computational intelligence redefin

170、es what is possible.Our initial investments are helping companies realize that the future is changing and find where they fit within it.Our first investment helped a 3D asset company in Ecommerce expand its market opportunities by integrating more efficient technologies.EdenBases second venture is i

171、nto a collaboration tool that addresses the limitations of Data and Large Language Models(LLMs)in teamwork.Both investments aim to solve problems that will challenge future technology on a larger spectrum,creating a new trajectory and mindset for its founders.Startup Genome:Are you seeing a concentr

172、ation of AI tech innovation in certain geographies?Are you concerned about what that would mean for the proliferation of artificial intelligence?Daniel:The real value has always emerged from applications developed atop foundational technologies,be it software for PCs or services utilizing internet p

173、rotocols.Historically,being geographically close to these foundational technologies and tech hubs like Silicon Valley afforded distinct advantages,facilitating faster and better access to these cutting-edge technologies and networks.Today,however,the landscape has transformed with the advent of clou

174、d computing and widespread internet access,providing faster,better and more equal access to innovate and leverage base The next wave of technological breakthroughs could as likely originate from rural India or Africa as from traditional powerhouses like California or London.This heralds a new chapte

175、r of global innovation driven by accessibility.02GLOBAL INSIGHTS&RANKINGS28Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authoriz

176、ation of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024tec

177、hnologies such as quantum computing and LLMs from anywhere globally.This shift notably benefits regions previously marginalized in the tech boom.Where these jurisdictions face fewer existing structures and regulatory and institutional barriers,they can potentially accelerate the adoption and innovat

178、ion of technologies in more structural areas such as education,health,and finance.Geographies and economies that experience fewer restrictions from legacy infrastructure,established mindsets,and regulation compared to mature markets benefit from an opportunity for equal technological access without

179、having to address the inertia inherent in traditional structures.Here,the advantage of developing nations is the enablement of faster growth in some key areas without the burden of traditional legislation to slow them down.For the first time,the playing field is levelling,opening an era in which the

180、 next wave of technological breakthroughs could as likely originate from rural India or Africa as from traditional powerhouses like California or London.This heralds a new chapter of global innovation driven by accessibility.Startup Genome:Whats your perspective on current regulatory frameworks for

181、AI being introduced around the world?Daniel:The development of regulatory frameworks for emerging technologies in the U.S.,U.K.,France,Germany,and beyond presents a complex challenge as governments attempt to balance public concerns with the need for innovation;and short term status quo with long te

182、rm opportunity.The pressure mounts when job losses trigger political uproar,compelling regulators to act judiciously to avoid stifling progress,particularly in places such as the EU,where the economic focus on commodities and physical goods misaligns with the digital future.Policy-wise,we need fast-

183、moving,intelligent,informed governance frameworks and ethical guidelines to help steer the cognitive revolution in a positive direction.This is not the norm for bureaucracies which have been designed for maintaining stability.Also,regulation must be designed thoughtfully in collaboration with citize

184、ns,industry,and academia to avoid stifling innovation,especially as this is now a global competition.Countries and regions that fail to embrace these technologies and create fertile environments for entrepreneurship and experimentation risk being left behind.But we also cannot afford a race to the b

185、ottom.International cooperation and shared baseline principles and standards will be essential.However,the world has no forums suitable for this.By 2040,AI and other Frontier Technologies will be thousands of times more powerful than they are today.Leading tech companies are investing billions in R&

186、D to push the boundaries of whats possible.At the same time,innovative startups aim to leverage AI,Blockchain,and other technologies to disrupt and automate entire industries and business processes.This is a global race with the highest stakes.Those who harness these technologies effectively will re

187、ap huge productivity gains and shape the trajectory of the 21st-century economy.New superpowers will be born.Startup Genome:What advice would you give startup founders and corporates trying to navigate the rapidly evolving tech landscape?Daniel:For founders and corporate leaders,this means radically

188、 rethinking your strategies,operating models,and workforce development for an AI-driven future.Dont underestimate the velocity of change or overestimate your ability to adapt.As futurist Roy Amara noted,we overestimate the short-term impact of new technologies and vastly underestimate the long-term

189、effects.Proactively explore how AI and other exponential technologies can be applied to transform your business.Invest now in upskilling and reskilling your talent to work effectively alongside AI.Build“future-ready”organizational cultures of agility and continuous learning.Developing a diverse set

190、of stakeholders that can foster effective AI solutions is essential for all those invested in ecosystem success.We must all be proactive in designing and collaborating within a diverse ecosystem of various stakeholders and viewpoints.This will inform a thoughtful trajectory that encompasses all need

191、s even those that cannot yet be anticipated.We must listen to those who see the world differently.The more people we can involve,the better,and in doing so,we will create a future that is inclusive of all people.While I am positive for our future,this is no time for complacency.We must all be proact

192、ive in designing and collaborating within a diverse ecosystem of various stakeholders and viewpoints.02GLOBAL INSIGHTS&RANKINGS29Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electroni

193、c or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTU

194、PGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Global Startup Ecosystem Ranking 2024(Top 40)The top three ecosystems have maintained their same positions from 2020,with Silicon Valley remaining at the top,followed by New York City and London tied for#2.Tel Aviv has moved up one rank and is now t

195、ied with Los Angeles at#4.Tokyo has entered the Top 10 for the first time,moving up an impressive five places to#10 from#15 in the GSER 2023,marking the most significant improvement among the Top 10 ecosystems.Seoul has moved up three spots and is now ranked#9,entering the Top 10 ecosystems.Key Find

196、ings Miami has also made impressive progress,reaching#16 in the Top 20 ecosystems,an improvement of seven positions from last year.The top two Chinese ecosystems have dropped in the overall rankings:Beijing by one place and Shanghai by two,now standing at#8 and#11,respectively.However,Shenzhen has s

197、hown impressive growth,moving up seven spots to rank#28.Paris has moved up an impressive four places from last year to reach#14.Both Zurich and Munich have moved up by five and four positions,respectively,entering the top 35 at#31 and#33.02GLOBAL INSIGHTS&RANKINGSThis ranking identifies the Top 40 g

198、lobal ecosystems.These ecosystems are more mature than other ecosystems globally,featuring more large exits(valued over$50 million)and more funding activity.For more information about how this ranking is created,please see the Methodology section of this report.Tokyo has entered the Top 10 for the f

199、irst time,moving up an impressive five places to#10 from#15 in the GSER 2023,marking the most significant improvement among the Top 10 ecosystems.Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or an

200、y other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP EC

201、OSYSTEM REPORT 202430LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMECOSYSTEMSOVERALL RANKINGPERFORMANCEFUNDINGTALENT&EXPERIENCEMARKET REACHKNOWLEDGESILICON VALLEY1101010109LONDON2(tied)1010101010NEW YORK CITY2(tied)101010108TEL AVIV4(tied)1089107LOS ANGELES4(tied)910996BOSTON6991097SINGAPORE78981

202、01BEIJING810610910SEOUL9910979TOKYO10878910SHANGHAI11959610WASHINGTON,D.C.1286786THE NETHERLANDS1368786PARIS1459677BERLIN1558773MIAMI1677381CHICAGO1785755TORONTO-WATERLOO1848665SAN DIEGO1971677SEATTLE2066834Global Startup Ecosystem Ranking 2024(Top 40)CONTD.IMPROVEMENT FROM GSER 2023+1+1+3+5+1+4+7+2

203、02GLOBAL INSIGHTS&RANKINGS31Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been

204、prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024ECOSYSTEMSOVERALL RANKINGPERFORMANCEFUNDINGTALENT&

205、EXPERIENCEMARKET REACHKNOWLEDGEBENGALURU-KARNATAKA21(tied)59253SYDNEY21(tied)65561STOCKHOLM2362584DELHI2477351PHILADELPHIA2555466SO PAULO2674341AUSTIN2737511SHENZHEN2814819ATLANTA2924411DENVER-BOULDER3023512ZURICH3116118MELBOURNE3241331MUNICH33142110VANCOUVER3422231SALT LAKE-PROVO3541411HANGZHOU3611

206、614MUMBAI3743111DALLAS3821115MONTRAL3931211COPENHAGEN40(tied)11131GREATER HELSINKI40(tied)11111IMPROVEMENT FROM GSER 2022+2+7+5+1+4+2+1+102GLOBAL INSIGHTS&RANKINGS32Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,web

207、site download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LE

208、ARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Global LeadersNorth America remains the globally-leading region regarding the number of tech startup ecosystems in the ranking(18 of the Top 40).The top five global ecosystems remain unchanged from 2020,with Silic

209、on Valley at#1 and New York City and London tied at#2.Last year,GSER 2023,Los Angeles was#4,followed by Tel Aviv at#5 however,this year,they are tied at#4.These top five account for a collective$4.4 trillion in Ecosystem Value,54%of the total of the Top 40 ecosystems.The remaining 35 ecosystems are

210、collectively worth$4 trillion in Ecosystem Value.Silicon Valley accounts for 59%of the total Ecosystem Value within the Top 5 global ecosystems up 3%since last year.A significant factor in Silicon Valleys success has been its late-stage funding(Series B+).Global late-stage funding amount decreased 3

211、9%in 2023 compared to 2022,but only 6%in Silicon Valley.As a result,in 2023,Silicon Valley increased its global share of late-stage funding to 26%,even as its deal count share has decreased.Since 2022,fewer startups are securing late-stage deals in the worlds top ecosystem,but those that do obtain l

212、arger amounts led by Silicon Valley-based AI companies such as OpenAI,Inflection,Databricks,and Anthropic all securing considerable deals in 2023.London remains Europes leading startup ecosystem.However,2023 was a disappointing year for large exits,as in many ecosystems.London did not have an exit v

213、alued above$1 billion in 2023,compared to three in 2022 and 12 in 2021.Yet it was not all bad 02GLOBAL INSIGHTS&RANKINGSnews.While Londons late-stage funding amount was down 40%in 2023 compared to 2022,H2 2023 saw an encouraging rebound compared to the first half of the year,led by startups such as

214、the AI computer vision startup Metropolis and Relativity Space,an advanced aerospace manufacturing startup.Some exciting early-stage startups may also provide momentum for the ecosystem as we enter 2024.ArtBio,a cancer treatment biotech startup,and Tenpoint Therapeutics,a cell engineering biotech st

215、artup,secured large Series A rounds of$90 million and$70 million,respectively.New York City was the only Top 5 ecosystem to see a slight increase in the value of its large exits($50M+)in 2023 compared to 2022 even as its count of large exits declined.This slight increase was due to the exit of Bette

216、r,the real estate Fintech startup valued at nearly$8 billion.Better was the highest-valued exit in New York City since Braze in 2021,valued at exactly$8 billion.While the number of Series A deals in 2023 was down in New York City,the average deal size was$12.4M,up slightly from 2022 making it the on

217、ly Top 5 global ecosystem to experience an increase.Some leading Series A deals include the Edtech startup Paradigm,which raised a$203M round,and the biotech startup Tourmaline Bio,which raised$112M.Los Angeles maintained its#4 global ecosystem rank from last year,two years after jumping from#6.The

218、value of its large exits($50M+)fell 36%in 2023 compared to 2022,which was less of a decline than London,Silicon Valley,or Tel Aviv.The largest exit was the gaming startup Scopely,valued at nearly$5 billion topping any exit the ecosystem had in 2022.Los Angeles was the only ecosystem to see an increa

219、se in its active unicorns,from 41 to 42,in the 30 months leading to the end of 2023(July 1,2021December 31,2023)compared to the previous 30 month period(July 1,2020December 31,2022).The ecosystem added three new unicorns to its active list:The advanced auto manufacturing startup Divergent 3D The Cle

220、antech startup Newlight Technologies The cloud platform startup Restaurant365 Silicon Valley accounts for 59%of the total Ecosystem Value within the Top 5 global ecosystems.33Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by

221、 email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website oth

222、er than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Tel Aviv moved up one spot from last year,GSER 2023,to tie Los Angeles as the#4 ranked global ecosystem.While its large exits($50M+)were down overall in 2023 compared to 2022,it led all Top 5 ecosystems

223、other than Silicon Valley in the number of large exits it had in H2 2023,with seven.The largest exit was Oddity,the consumer tech brand that exited via an IPO on the Nasdaq stock exchange,valued at over$2 billion.However,this was Tel Avivs only$1 billion exit in 2023,compared to seven in 2021.Hot Sp

224、ots&Rising EcosystemsTwo Asian ecosystems,Tokyo and Seoul,made the most significant strides among the Top 10 ecosystems this year.Seoul improved three ranks to#9,its best performance since 2022 when it was#10.In 2021,Seoul reached$83 billion in Exit Value 4th among global ecosystems which has powere

225、d the ecosystems performance even as its exits have declined.In 2023,it had a$1 billion exit with ALLCAR a consumer auto platform.However,the ecosystem will likely experience an increase in exit activity as its number of active unicorns has increased to 20 over the 30 months ending in 2023,4th among

226、 Asian ecosystems and 11th globally.Tokyo jumped five ranks this year to#10,the most substantial improvement among the Top 10 and its best placement since 2021 when it was#9.In 2023,Tokyo had 11 large exits($50M+),tied with Boston and behind just Silicon Valley and Tel Aviv for the most among the To

227、p 10 global ecosystems.However,it has not had a$1 billion exit since 2021 and currently has only four active unicorns spanning the 30 months to the end of 2023,tied for 40th among all global ecosystems.However,Tokyo can improve its ecosystem scaling conditions by building upon the new capital and ex

228、perience released by its recent large exits.Paris also improved this year,moving four ranks to#14,its best showing since 2022 when it was#15.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.However,its

229、 Exit Value over that period is 24th,demonstrating that its value per exit is low compared to the top global ecosystems.It has not had a$1 billion exit since 2020 with Galileo Global Education.Yet the exciting story out of Paris in 2023 was Mistral.ai,the generative AI startup that raised over$500 m

230、illion,becoming the leading global AI startup based outside the U.S.Miami improved seven ranks to#16,continuing its impressive recent climb,which began at#31(tied)in 2022.Its$2.1 billion Exit Value in 2023 is the 13th highest globally,led by Redzone Software,a digital manufacturing collaboration sta

231、rtup acquired at$885M,and Freightos,a supply chain startup,as part of a merger valued at$500M.While its late-stage funding declined in 2023,several Miami startups show strong promise,including the Blockchain startup QuickNode,which raised a$88M Series B round;the Fintech startup NYMBUS raised a$70M

232、Series B round.After falling to#35 in last years rankings,Shenzhen improved to#27.Its Exit Value was$10 billion in 2023,the 5th highest globally,a massive improvement from 2022 when it was less than$100 million.Shenzhens two leading exits in 2023 were UBTech Robotics and Intellifusion both AI-powere

233、d robotics startups that completed IPOs in 2023 valued at nearly$5 billion each.These Shenzhen-based companies should attract more AI and robotics talent to the area as the ecosystem has proven it can effectively scale successful Deep Tech startups.Two European ecosystems also made substantial impro

234、vements this year.Zurich,tied for#36 last year,Tokyo jumped five ranks this year to#10.02GLOBAL INSIGHTS&RANKINGS34Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical

235、means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE

236、 GLOBAL STARTUP ECOSYSTEM REPORT 2024GSER 2023,moved up five ranks to#31.In the 30 months to the end of 2023,it had five large exits,tied for 8th among European ecosystems.Due to its status as a global finance hub,Zurich has a thriving Fintech ecosystem,which is reflected in some of its recent large

237、 exits,including Crypto Finance AG,which was acquired by Deutsche Brse Group in 2021 valued at$280M,and SecurionPay,a mobile payment startup acquired in 2022 for$125M.However,Zurich also has an emergent Life Sciences ecosystem,as evidenced by two 2023 Series A deals$40M for the infectious disease st

238、artup LimmaTech Biologics AG and$36M for the AI-medical imaging startup Laza Medical.Munich is another European ecosystem making strides this year,moving four ranks to#33.In the 30 months to the end of 2023,it had seven large exits,tied for 5th among European ecosystems.Munich is well-positioned to

239、increase its exit count in the coming years as it had 23 late-stage deals(Series B+)in 2023,5th in Europe,and just one behind Berlin and Stockholm.Its leading late-stage funding startups include the AI-defense startup Helsing and the aerospace startup Isar Aerospace,which raised over$100M in 2023.Th

240、e success of these firms shows that Deep Tech is becoming a strength in Munich.Cooling Ecosystems The two leading Chinese ecosystems,Beijing and Shanghai,fell slightly this year.Beijing,ranked as high as#4 in 2022,is now#8.One of its principal constraints is the number of deals its startups obtain d

241、espite its size.In the 30 months leading to the end of 2023,Beijing had 223 Series A deals,11th globally,and just 60 total exits,58th globally.However,despite the few overall exits,Beijing still has a strong future due to the size of its exits.In the 30 months leading to the end of 2023,Beijing had

242、16$1 billion exits,second only to Silicon Valley globally.Shanghai fell two ranks to#11 for similar reasons to Beijing.While its 12$1 billion exits in the 30 months leading to the end of 2023 were 4th globally,it only had 52 total exits over that same period 64th globally.Being closer to consumers a

243、nd responding quickly to changes in market demand have become increasingly important for the development of entrepreneurial companies.”Mr.Wensheng Wu,Chairman of Greatwall Enterprise Institute(GEI)02GLOBAL INSIGHTS&RANKINGS35Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2

244、024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report

245、 cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Taking advantage of the capital and experience generated by these$1 billion exits will be critical to Shanghais future success.Two U.S.ecosystems,however

246、,had the most significant rankings fall among the top 20 ecosystems this year.San Diego fell three ranks to#19.As a Life Sciences hub,it reached#13 in 2022,powered by five$1 billion exits in 2021 all of which were Life Sciences and Medtech startups that investors favored during the Covid era.It had

247、its first$1 billion exit in 2023 when Novartis acquired Dtx Pharma.However,the future is looking up despite declining Life Sciences funding.In 2023,San Diego had five startups that obtained a Series A round greater than$50 million 5th globally.All of these were Life Science-related startups.Seattle

248、fell the farthest among the Top 40 ecosystems 10 ranks to#20.Its ten large exits in the 30 months leading to the end of 2023 were 26th globally.It only had two in 2023.The ecosystem is on a downcycle overall as its Series A deals have also slowed.In 2022,Seattle startups secured 53 Series A deals,6t

249、h among U.S.ecosystems,but in 2023,this has fallen to 25,10th among U.S.ecosystems.Seattles late-stage startups have been more successful.In 2023,Seattle startups secured 49 late-stage deals(Series B+),5th among U.S.ecosystems.With startups like Avalyn Pharma(inhalation therapy),Pivotal Commware(net

250、work connectivity),and Stoke Space(aerospace)all receiving$100 million late-stage rounds in 2023,Seattle has shown that it can still produce scalable Deep Tech startups.Mumbai also experienced a rankings decline this year,falling six spots to#37.In 2021,Mumbais seven large exits were 6th among Asian

251、 ecosystems;however,in 2022,this number dropped to three,and in 2023,zero.Unfortunately,early-stage deals have followed a similar trajectory.While Mumbai startups secured 31 Series A deals in 2021,9th among Asian ecosystems,there were just 11 deals in 2023,tied for 17th.Mumbai still has many strengt

252、hs it can leverage.Because of its market size,B2C startups that achieve product-market fit have tremendous scaling opportunities.The grocery delivery startup Zepto,based in Mumbai,became a unicorn in 2023 following its$200M Series E round.Zepto will undoubtedly be a large exit candidate soon,recycli

253、ng that much-needed capital and managerial talent into the ecosystem.Mintifi,a Fintech startup focused on small business lending,raised$160 between Series C and D rounds in 2022 and 2023,respectively.The grocery delivery startup Zepto,based in Mumbai,became a unicorn in 2023 following its$200M Serie

254、s E round.02GLOBAL INSIGHTS&RANKINGS36Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material

255、 has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024To create the 2024 rankings,we measured

256、five Success Factors in each ecosystem:Performance Funding Market Reach Talent&Experience KnowledgeEach 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 section.Success FactorHighlightsECOSYST

257、EMOVERALL RANKEXITECOSYSTEM VALUESTARTUP SUCCESSSILICON VALLEY191010LONDON2(tied)10109NEW YORK CITY2(tied)91010TEL AVIV4(tied)10910LOS ANGELES4(tied)10108BOSTON68910SINGAPORE71083BEIJING8101010SEOUL9998TOKYO10839SHANGHAI11999WASHINGTON,D.C.12955THE NETHERLANDS13654PARIS14585BERLIN15673MIAMI16862CHIC

258、AGO17767TORONTO-WATERLOO18447SAN DIEGO19778SEATTLE20587BENGALURU-KARNATAKA21(tied)488SYDNEY21(tied)742STOCKHOLM23637DELHI24776PHILADELPHIA25465SO PAULO26682AUSTIN27354SHENZHEN28175ATLANTA29221DENVER-BOULDER30321ZURICH31246MELBOURNE32516MUNICH33232VANCOUVER34324HANGZHOU35156SALT LAKE-PROVO36533MUMBAI

259、37349DALLAS38321MONTRAL39423COPENHAGEN40(tied)122GREATER HELSINKI40(tied)114The Performance Success Factor assesses:Exits:The number of exits over$50 million and$1 billion,as well as the growth of exits.Ecosystem Value:A measure of the economic impact of the ecosystem,calculated as the total exit va

260、luation and startup valuations over a two-and-a-half-year time period.Startup Success:How many startups succeed in the ecosystem.Measured in early-stage success(ratio of Series B to Series A companies),late-stage success(ratio of Series C to A companies,and speed to exits(both to IPO and other exits

261、).Performance02GLOBAL INSIGHTS&RANKINGS37Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This mater

262、ial has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024The Funding Success Factor assesses:A

263、ccessA function of early-stage funding volume and growth.Quality&ActivityThe number of local investors;those investors experience(average years investing and exit ratio);and their level of activity(percentage of investors active in 2022 and the number of new investors.FundingECOSYSTEMOVERALL RANKACC

264、ESSQUALITY&ACTIVITYSILICON VALLEY11010LONDON2(tied)1010NEW YORK CITY2(tied)1010TEL AVIV4(tied)88LOS ANGELES4(tied)109BOSTON6910SINGAPORE798BEIJING8510SEOUL9109TOKYO1069SHANGHAI1148WASHINGTON,D.C.1266THE NETHERLANDS1388PARIS1499BERLIN1587MIAMI1676CHICAGO1757TORONTO-WATERLOO1877SAN DIEGO1921SEATTLE206

265、6BENGALURU-KARNATAKA21(tied)95SYDNEY21(tied)55STOCKHOLM2331DELHI2482PHILADELPHIA2573SO PAULO2654AUSTIN2774SHENZHEN2846ATLANTA2973DENVER-BOULDER3043ZURICH3134MELBOURNE3221MUNICH3334VANCOUVER3434HANGZHOU3523SALT LAKE-PROVO3611MUMBAI3745DALLAS3812MONTRAL3912COPENHAGEN40(tied)23GREATER HELSINKI40(tied)1

266、302GLOBAL INSIGHTS&RANKINGSCopyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been p

267、repared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than THE GLOBAL STARTUP ECOSYSTEM REPORT 202438LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMThe Market Reach Success Factor assesses:75%Local

268、 Reach 45%Scaleup Production-50%ratio of startups with$1 billion+valuations to GDP from H2 20212023-40%ratio of$50 million+exits to GDP from H2 20212023-10%log of ratio of exits over$50 million from H2 20212023 to Series A funding in the first from H2 2021-2023 30%Local Market-90%from the log of GDP

269、 of the country-10%from tiers of average number of days to commercialization of IP assets25%Global Reach 60%ratio of tech startups(formed after 2012)with international secondary offices 20%from the log of tech companies with secondary offices in the ecosystem 20%from the log of international investo

270、rsMarket ReachECOSYSTEMOVERALL RANKLOCAL MARKETSCALEUP PRODUCTIONGLOBAL REACHSILICON VALLEY1101010LONDON2(tied)51010NEW YORK CITY2(tied)101010TEL AVIV4(tied)21010LOS ANGELES4(tied)1099BOSTON61099SINGAPORE711010BEIJING8793SEOUL9285TOKYO10694SHANGHAI11788WASHINGTON,D.C.121078THE NETHERLANDS132810PARIS

271、14579BERLIN156410MIAMI161066CHICAGO171052TORONTO-WATERLOO18457SAN DIEGO191063SEATTLE201032BENGALURU-KARNATAKA21(tied)566SYDNEY21(tied)375STOCKHOLM231810DELHI24563PHILADELPHIA251029SO PAULO26375AUSTIN271022SHENZHEN28712ATLANTA291031DENVER-BOULDER301011ZURICH31229MELBOURNE32359MUNICH33617VANCOUVER3444

272、6HANGZHOU35718SALT LAKE-PROVO361031MUMBAI37544DALLAS381038MONTRAL39434COPENHAGEN40(tied)159GREATER HELSINKI40(tied)14902GLOBAL INSIGHTS&RANKINGS39Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or an

273、y other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CO

274、NNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024ECOSYSTEMOVERALL RANKCOSTQUALITY&ACCESSSTEM ACCESSLS ACCESSLS QUALITYSCALING EXPERIENCESTARTUP EXPERIENCESILICON VALLEY131046101010LONDON2(tied)710101091010NEW YORK CITY2(tied)110101061010TEL AVIV4(tied)731072910LOS ANGELES4(tied)29

275、1088910BOSTON659101091010SINGAPORE7651061078BEIJING898101061010SEOUL9991093810TOKYO10451051810SHANGHAI1196101051010WASHINGTON,D.C.1244108497THE NETHERLANDS133101091066PARIS14871088110BERLIN1587105467MIAMI1633103243CHICAGO171836575TORONTO-WATERLOO1879108427SAN DIEGO1956102775SEATTLE20210211087BENGALU

276、RU-KARNATAKA21(tied)10111126SYDNEY21(tied)27109844STOCKHOLM2378107764DELHI24101102155PHILADELPHIA2515107953SO PAULO2610234244AUSTIN272621936SHENZHEN281061055610ATLANTA2932331014DENVER-BOULDER304744653ZURICH316924345MELBOURNE3267109732MUNICH3382105713VANCOUVER3454104632HANGZHOU3593107477SALT LAKE-PRO

277、VO366422382MUMBAI3710111122DALLAS384413231MONTRAL3983106351COPENHAGEN40(tied)5223921GREATER HELSINKI40(tied)8132511The Talent&Experience Success Factor assesses:Tech Talent Quality&Access:A function of the number and density of top developers on GitHub,English proficiency,and history of exits.Qualit

278、y is also a proxy for experienced scaled teams in the ecosystem.Cost:Cost efficiency average of software engineer salaries.(Higher salaries lead to lower scores.)Life Sciences Talent STEM Access:Number of STEM students and graduates.LS Access:Number of Life Sciences-focused universities and degree p

279、rograms.LS Quality:A function of Life Sciences quality of instruction and research at local universities as measured by the Shanghai Rankings.Experience Scaling Experience:The cumulative number of significant exits(over$50 million and over$1 billion)over 10 years for startups founded in the ecosyste

280、m.Startup Experience:The cumulative number of early-stage companies started and funded at the Series A stage.Talent&Experience02GLOBAL INSIGHTS&RANKINGS40Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website downlo

281、ad,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AN

282、D GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024The Knowledge Success Factor assesses:PatentsThe volume,complexity,and potential patents generated in the ecosystem.ResearchBased on the H-Index,a measure of publication impact,this metric looks at the production of research

283、 at the country level.KnowledgeECOSYSTEMOVERALL RANKPATENTSRESEARCHSILICON VALLEY1910LONDON2(tied)107NEW YORK CITY2(tied)810TEL AVIV4(tied)82LOS ANGELES4(tied)710BOSTON6810SINGAPORE741BEIJING8104SEOUL9102TOKYO10104SHANGHAI11104WASHINGTON,D.C.12710THE NETHERLANDS1375PARIS1485BERLIN1557MIAMI16210CHICA

284、GO17510TORONTO-WATERLOO1866SAN DIEGO19710SEATTLE20510BENGALURU-KARNATAKA21(tied)52SYDNEY21(tied)25STOCKHOLM2363DELHI2412PHILADELPHIA25610SO PAULO2611AUSTIN27310SHENZHEN2894ATLANTA2994DENVER-BOULDER30310ZURICH31410MELBOURNE3225MUNICH33107VANCOUVER3436HANGZHOU3564SALT LAKE-PROVO36110MUMBAI3712DALLAS38

285、510MONTRAL3926COPENHAGEN40(tied)43GREATER HELSINKI40(tied)3202GLOBAL INSIGHTS&RANKINGS41Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior wri

286、tten authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM R

287、EPORT 2024ECOSYSTEMREGIONRANKPERFORMANCEFUNDINGTALENT&EXPERIENCEMARKET REACHKNOWLEDGEMADRIDEUROPE191010104BARCELONAEurope291010106HONG KONGAsia31098101DUBLINEurope4999102MANCHESTER-LIVERPOOLEurope5109998JAKARTAAsia610101081DETROITNorth America7108879RESEARCH TRIANGLENorth America8996108METRO RHEIN-R

288、UHREurope9988910GUANGZHOUAsia1010510710GREATER LAUSANNEEurope111067109HOUSTONNorth America12109979ISTANBULEurope138101031MILANEurope14810869WUXIAsia15991028ESTONIAEurope16710591BRUSSELSEurope178910510DUBAIMENA18710881BRISTOLEurope19888810OSLOEurope2059993MINNEAPOLISNorth America21-3097889NANJINGAsia

289、21-301071029NEW ZEALANDOceania21-30867104PHOENIXNorth America21-30107549KUALA LUMPURAsia21-3098921MEXICO CITYLatin America21-3089761TAIPEI CITYAsia21-3095587FRANKFURTEurope21-30877510CHENNAIAsia21-30106641ORLANDONorth America21-3085687EDINBURGH-GLASGOWEurope31-40371056PITTSBURGHNorth America31-40978

290、18LISBONEurope31-40743101Emerging Ecosystems RankingEmerging ecosystems are startup communities at earlier stages of growth.The methodology for ranking the Top 100 Emerging Ecosystems is designed to reflect this,showcasing the ecosystems displaying high potential to become top global performers in t

291、he coming years.The factor weights used to rank these ecosystems differ slightly from those used with the top ecosystems to reflect their emerging status and emphasize the factors that have more influence in ecosystems that are just beginning to grow.Less weight is given to the number of exits over$

292、50 million,and startup activity is more focused on early-stage funding than in the Top 40 ecosystems.For more information,please refer to the Methodology section of the report.CONTD.02GLOBAL INSIGHTS&RANKINGS42Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not rep

293、roduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offe

294、red for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024 The Top 100 Emerging Ecosystems collectively have an Ecosystem Value of over$1.6 trillion,a slight increase from 2022.Europe is the most represented region in the Emer

295、ging Ecosystems ranking,with a 42%share in the Top 100 Emerging Ecosystems,followed by North America with a 27%share.Madrid has moved up 12 ranks to claim the#1 position,thanks to large exits and unicorns.Barcelona has moved up two positions since last year,reaching#2.Barcelona is home to three unic

296、orns,with the highest-valued unicorn,TravelPerk,valued at$1.6 billion.Jakarta and Metro Rhein-Ruhr have both entered the Top 10 of Emerging Ecosystems at#6 and#9,respectively.Greater Lausanne Region has moved up 16 positions to reach#11.Milan has climbed 14 positions to reach#14.Key FindingsECOSYSTE

297、MREGIONRANKPERFORMANCEFUNDINGTALENT&EXPERIENCEMARKET REACHKNOWLEDGEBRISBANEOceania31-4076761TAMPA BAYNorth America31-4058738PRAGUEEurope31-4066671LYONEurope31-40649610WARSAWEurope31-4037691MOSCOWEurope31-4084957BIRMINGHAMEurope31-4058629BOGOTLatin America41-5048291CAIROMENA41-50310841PORTLANDNorth A

298、merica41-5047919WILMINGTONNorth America41-50310142CALGARYNorth America41-5066441VIENNAEurope41-5018715LITHUANIAEurope41-5036191HYDERABADAsia41-5066612ROMEEurope41-5072572HAMBURGEurope41-50198110NICOSIAEurope51-6053281RIYADHMENA51-6057341CHARLOTTENorth America51-6083426DURHAMEurope51-6053552STUTTGART

299、Europe51-60446110ST.LOUISNorth America51-6045616INDIANAPOLISNorth America51-6028317ATHENSEurope51-6051291NAIROBISub-Saharan Africa51-6017431SANTIAGO-VALPARAISOLatin America51-6018411LILLEEurope61-7071531ANTWERPEurope61-7013548BUENOS AIRESLatin America61-7035321HARTFORDNorth America61-7062148SACRAMEN

300、TONorth America61-7054217LUXEMBOURGEurope61-7012585CONTD.02GLOBAL INSIGHTS&RANKINGS43Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior writte

301、n authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPO

302、RT 2024ECOSYSTEMREGIONRANKPERFORMANCEFUNDINGTALENT&EXPERIENCEMARKET REACHKNOWLEDGEABU DHABIMENA61-70411101OTTAWANorth America61-7031556KANSAS CITYNorth America61-7052232LAGOSSub-Saharan Africa61-70110411CHENGDUAsia71-80711015NASHVILLENorth America71-8044715PORTOEurope71-8021291MALTAEurope71-80611101

303、ANKARAEurope71-8011481BANGKOKAsia71-8071431WUHANAsia71-8051918CLEVELANDNorth America71-8041256SOFIAEurope71-8013181CINCINNATINorth America71-8065117LAS VEGASNorth America81-9015414MANILAAsia81-9026411COLUMBUSNorth America81-9071316KANSAI REGIONAsia81-9013713BUCHARESTEurope81-9025151SAN BERNARDINONor

304、th America81-9062128SANTA BARBARANorth America81-9061416TURINEurope81-9023121MADISONNorth America81-9041318HO CHI MINH CITYAsia81-9035511RIO DE JANEIROLatin America91-10022711LEIPZIGEurope91-10021175REYKJAVIKEurope91-10021191KYIVEurope91-10022161PUNEAsia91-10026114RENONorth America91-10071111KRAKOWE

305、urope91-10011341CAPE TOWNSub-Saharan Africa91-10013311VALENCIAEurope91-10014111ADELAIDEOceania91-10031171 Ottawa has advanced from the 71-80 range in 2023 to the 61-70 range in 2024.Mexico City,the top Latin American Emerging Ecosystem,has shown impressive growth,reaching the 21-30 range from the 41

306、-50 range in 2023,thanks to an increase in exits over$50 million.Athens has entered the Top 100 Emerging Rankings,reaching the 51-60 range in 2024.Its highest-valued unicorn,the Fintech platform Viva Wallet,was valued at$1.7 billion,helping to increase its Ecosystem Value to$4.2B,a 40%increase from

307、2023.02GLOBAL INSIGHTS&RANKINGS44Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has

308、been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024ECOSYSTEMCOUNTRYECOSYSTEM VALUE($B)NANJINGChi

309、na$125JAKARTAIndonesia$104DETROITUnited States$101HONG KONGHong Kong$59KUALA LUMPURMalaysia$47BUCHARESTRomania$38MINNEAPOLISUnited States$37WUXChina$36PHOENIXUnited States$35ESTONIAEstonia$32ECOSYSTEMCOUNTRYEARLY-STAGE FUNDING AMOUNT($M)WUXIChina$1,902GUANGZHOUChina$1,849PITTSBURGHUnited States$1,59

310、6RESEARCH TRIANGLEUnited States$1,380DUBAIUnited Arab Emirates$1,290NANJINGChina$1,284HONG KONGHong Kong$1,253JAKARTAIndonesia$1,238MEXICO CITYMexico$1,205BARCELONASpain$1,190TOP 10 EMERGING ECOSYSTEMS BY ECOSYSTEM VALUE(H2 2021-2023)TOP 10 EMERGING ECOSYSTEMS BY TOTAL EARLY-STAGE FUNDING AMOUNT(H2

311、2021-2023)EMERGING ECOSYSTEMS WITH FOUR OR MORE UNICORNS IN THE LAST 10 YEARSECOSYSTEMCOUNTRYUNICORNSHONG KONGHong Kong12JAKARTAIndonesia10GUANGZHOUChina8CHENGDUChina8DUBLINIreland7WUXIChina7NANJINGChina7MEXICO CITYMexico7PUNEIndia7DUBAIUnited Arab Emirates6OSLONorway6PHOENIXUnited States6MADRIDSpai

312、n5TAIPEI CITYTaiwan5LUXEMBOURGLuxembourg5SANTA BARBARAUnited States5MANCHESTER-LIVERPOOLUnited Kingdom4DETROITUnited States4HOUSTONUnited States4ESTONIAEstonia4CHENNAIIndia4CHARLOTTEUnited States4RIYADHSaudi Arabia4WUHANChina4HO CHI MINH CITYVietnam4KYIVUkraine4RENOUnited States402GLOBAL INSIGHTS&RA

313、NKINGS45Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general

314、 informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024This years report includes a list of the top ecosystems by region.Thir

315、ty ecosystems are ranked for Asia,Europe,and North America,while fewer than thirty ecosystems qualified in Latin America,MENA,Oceania,and sub-Saharan Africa.The criteria for inclusion in the list are that the ecosystem either needs to be ranked in the Top 40 Global Leaders or Top 200 Emerging Ecosys

316、tems or have an Ecosystem Value greater than$200 million.Top 40 Global Leaders EcosystemTop 200 Emerging EcosystemUnranked EcosystemRegional RankingsAsiaEuropeRANKECOSYSTEMCOUNTRY1SINGAPORESingapore2BEIJINGChina3SEOULSouth Korea4TOKYOJapan5SHANGHAIChina6BENGALURU-KARNATAKAIndia7DELHIIndia8SHENZHENCh

317、ina9HANGZHOUChina10MUMBAIIndia11HONG KONGHong Kong12JAKARTAIndonesia13GUANGZHOUChina14WUXIChina15NANJINGChina16KUALA LUMPURMalaysia17TAIPEI CITYTaiwan18CHENNAIIndia19HYDERABADIndia20CHENGDUChina21-25BANGKOKThailand21-25WUHANChina21-25MANILAPhilippines21-25KANSAI REGIONJapan21-25HO CHI MINH CITYVietn

318、am26-30PUNEIndia26-30TIANJINChina26-30XIAMENChina26-30BUSANSouth Korea26-30HANOIVietnamRANKECOSYSTEMCOUNTRY1LONDONUnited Kingdom2THE NETHERLANDSThe Netherlands3PARISFrance4BERLINGermany5STOCKHOLMSweden6ZURICHSwitzerland7MUNICHGermany8COPENHAGENDenmark9GREATER HELSINKIFinland10MADRIDSpain11BARCELONAS

319、pain12DUBLINIreland13MANCHESTER-LIVERPOOLUnited Kingdom14METRO RHEIN-RUHRGermany15GREATER LAUSANNESwitzerland16ISTANBULTrkiye17MILANItaly18ESTONIAEstonia19BRUSSELSBelgium20BRISTOLUnited Kingdom21-25OSLONorway21-25FRANKFURTGermany21-25EDINBURGH-GLASGOWUnited Kingdom21-25LISBONPortugal21-25PRAGUECzech

320、ia26-30LYONFrance26-30WARSAWPoland26-30MOSCOWRussia26-30BIRMINGHAMUnited Kingdom26-30VIENNAAustria02GLOBAL INSIGHTS&RANKINGS46Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic o

321、r physical means without the prior written authorization of Startup Genome.This material has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGE

322、NOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Latin AmericaMENASub-Saharan AfricaRANKECOSYSTEMCOUNTRY1SO PAULOBrazil2MEXICO CITYMexico3BOGOTColombia4SANTIAGO-VALPARAISOChile5BUENOS AIRESArgentina6RIO DE JANEIROBrazil7CURITIBABrazil8MONTERREYMexico9BELO HORIZONTEBrazil10MONTEVIDEOUruguay11GUADALAJA

323、RAMexico12LIMAPeru13PORTO ALEGREBrazil14CRDOBAArgentina15MEDELLINColombia16QUITOEcuadorRANKECOSYSTEMCOUNTRY1TEL AVIVIsrael2DUBAIUnited Arab Emirates3CAIROEgypt4RIYADHSaudi Arabia5ABU DHABIUnited Arab Emirates6AMMANJordan7SHARJAHUnited Arab Emirates8CASABLANCAMorocco9BEIRUTLebanon10BAHRAINBahrain11+T

324、UNISTunisia11+DOHAQatar11+JEDDAHSaudi Arabia11+ALGIERSAlgeria11+ALKHOBAR-DAMMAMSaudi Arabia11+MUSCATOmanRANKECOSYSTEMCOUNTRY1NAIROBIKenya2LAGOSNigeria3CAPE TOWNSouth Africa4JOHANNESBURGSouth Africa5ACCRAGhana6ABUJANigeria7KAMPALAUganda8+ABIDJANCte dIvoire8+DAR ES SALAAMTanzania8+VICTORIASeychellesOc

325、eaniaRANKECOSYSTEMCOUNTRY1SYDNEYAustralia2MELBOURNEAustralia3NEW ZEALANDNew Zealand4BRISBANEAustralia5ADELAIDEAustralia6PERTHAustralia7CANBERRAAustraliaNorth AmericaRANKECOSYSTEMCOUNTRY1SILICON VALLEYUnited States2NEW YORK CITYUnited States3LOS ANGELESUnited States4BOSTONUnited States5WASHINGTON,D.C

326、.United States6MIAMIUnited States7CHICAGOUnited States8TORONTO-WATERLOOCanada9SAN DIEGOUnited States10SEATTLEUnited States11PHILADELPHIAUnited States12AUSTINUnited States13ATLANTAUnited States14DENVER-BOULDERUnited States15VANCOUVERCanada16SALT LAKE-PROVOUnited States17DALLASUnited States18MONTRALCa

327、nada19DETROITUnited States20RESEARCH TRIANGLEUnited States21-25HOUSTONUnited States21-25MINNEAPOLISUnited States21-25PHOENIXUnited States21-25ORLANDOUnited States21-25PITTSBURGHUnited States26-30TAMPA BAYUnited States26-30PORTLANDUnited States26-30WILMINGTONUnited States26-30CALGARYCanada26-30CHARLO

328、TTEUnited States02GLOBAL INSIGHTS&RANKINGS47Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This ma

329、terial has been prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024We may see more cross-border inves

330、tments and partnerships on the African continent particularly with the opportunities presented by the African Free Trade Continental Trade Agreement which is serving as a blueprint for regional integration and leveraging growth of the digital economy.”Adenike Adeyemi,Executive Director,FATE Foundati

331、on02GLOBAL INSIGHTS&RANKINGS48Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has bee

332、n prepared for general informational purposes only and is not intended as professional advice.This report cannot be offered for download on any website other than LEARN MORE AND GET CONNECTED AT STARTUPGENOME.COMTHE GLOBAL STARTUP ECOSYSTEM REPORT 2024Regional Insights03 Asia Europe Latin America ME

333、NA North America Oceania Sub-Saharan Africa5010114516418422523849THE GLOBAL STARTUP ECOSYSTEM REPORT 2024Copyright 2024 Startup Genome LLC().All Rights Reserved.Version 1(June 10,2024).Do not reproduce nor distribute the report by email,website download,or any other electronic or physical means without the prior written authorization of Startup Genome.This material has been prepared for general in