Mumbai, Bangalore and London named amongst World’s high startup hubs


London, Mumbai and Bangalore have featured among the many world’s high startup hubs, in accordance with a complete rating of worldwide startup hubs compiled by Startup Genome for its annual World Startup Ecosystem Report 2021.

Regardless of Brexit and the coronavirus pandemic, London maintained its second-place rating tied with New York for the second yr in a row. Bangalore additionally ranked within the high 30 world tech hubs (#23 globally) and Delhi made it into the highest 40 checklist, coming in at thirty sixth.

Mumbai maintained its first place within the Rising Ecosystems rating (ecosystems in earlier phases of development which have excessive potential to be world performers sooner or later), outperforming different fast-growing ecosystems in areas of funding, efficiency, market analysis, and expertise.

Launched to coincide with London Tech Week, the biggest tech occasion in Europe, the report ranks the main 140 startup ecosystems based mostly on seven success elements together with Efficiency, Expertise and Connectedness.

The findings revealed that London is essentially the most engaging vacation spot to arrange a tech startup exterior of Silicon Valley, with an total ecosystem worth of USD 142.7bn. London has risen up the league desk in the previous few years, climbing from quantity eight in 2012 when the primary rankings have been launched to quantity two in 2020. Silicon Valley held onto the highest spot this yr whereas Beijing and Boston got here in fourth and fifth respectively.

The analysis reveals that Indian startups raised USD 12.1 billion within the first half of this yr, demonstrating the speedy development of India as a worldwide hub for tech and innovation. As of August 2021, India has produced 24 unicorns in 2021, together with 6 in simply 4 days in April.

The town of Bengaluru and the encompassing state of Karnataka can be the world’s 4th largest know-how and innovation cluster and residential to greater than 400+ world R & D centres. Alongside Mumbai, a variety of different Indian hubs made it into the ‘Prime 100 Rising Ecosystems’ checklist, together with Chennai, Pune and Hyderabad.

The findings additionally revealed London is among the finest cities on the earth for entry to funding and high quality and exercise within the funding ecosystem (referring to the variety of native traders, investor expertise and their degree of exercise).

London has already seen document ranges of VC tech funding this yr, with the UK capital’s tech startups receiving USD 13.3bn within the first seven months (January to July), greater than the USD 10.9bn raised in the entire of 2020.

London’s spectacular begin to 2021 has been boosted by main funding rounds for Revolut (USD 800m), (USD 450m) and Hopin (USD 400m). Bangalore’s rating was additionally boosted by wholesome entry to development capital, demonstrated by latest giant funding rounds from meals supply platform Swiggy (USD 1.3bn), social media firm ShareChat (USD 502m) and edtech agency Byju (USD 460m).

In contrast with different worldwide tech hubs, the analysis discovered that startups in London have entry to deeper swimming pools of capital, with a median seed spherical of USD 653k, forward of the worldwide common of USD 494k. London is at the moment house to over 1,370 VC companies – greater than another European metropolis, offering entry to an enormous community of traders and a depth of capital within the ecosystem.

A variety of world funding companies have additionally elevated their presence in London lately, with Index Ventures asserting a USD 3.1bn fund for European start-ups in July and the information that Silicon Valley based mostly VC Sequoia Capital had expanded its footprint within the UK capital.

London can be recognised for its world class expertise pool, with town rating extremely throughout the board for high quality and entry to Tech and Life Sciences expertise. With 4 of the world’s high ten universities situated in or near London, town is house to 484k software program builders in addition to a excessive variety of Life Sciences-focused universities and diploma programmes.

The Mayor of London, Sadiq Khan mentioned, “London is a implausible place to develop and scale a worldwide tech enterprise. We have fun the varied, worldwide nature of our tech ecosystem and it’s nice to see our thriving start-up neighborhood being recognised on this report.

London’s tech sector has a pivotal function to play as we rebuild from the pandemic, and I’m excited to be a part of London Tech Week to debate how our tech neighborhood can work with different start-up hubs to unravel world challenges. Within the face of Brexit and the worldwide pandemic, London has demonstrated its resilience and confirmed itself as soon as once more to be probably the greatest locations globally for tech improvements and start-ups.”

Janet Coyle, Managing Director Enterprise Development, London and Companions mentioned, “India and London have shared strengths in know-how, innovation and entrepreneurship and at this time’s report findings reveal the abundance of alternatives for Indian tech corporations seeking to London for worldwide growth. For startups and excessive development corporations contemplating world growth, London has entry to excessive ranges of funding, expertise and clients multi function metropolis. As one of many world’s main hub for innovation, there’s enormous alternative for London to collaborate with different fast-growing startup hubs like Bangalore and Mumbai.”

JF Gauthier, Founder & CEO of Startup Genome mentioned, “Entrepreneurs, policymakers, and neighborhood leaders in Asia have been working laborious to construct inclusive innovation ecosystems which might be engines of financial development and job creation for all. The World Startup Ecosystem Report is the muse of data the place we, as a worldwide community, come collectively to determine what insurance policies really produce financial impression and in what context.”

Whereas the US and China have lengthy been thought of the worldwide superpowers for startups and tech, the pandemic has accelerated the democratisation of startups, and Europe is shortly cementing its place on the worldwide stage. The report reveals Europe accounts for 17 per cent of the highest 30 ecosystems this yr, with London the one European metropolis to make the highest 10 checklist. Asian ecosystems additionally proceed to rise within the rankings, with Tokyo (from #15 to #9), Seoul (#20 to #16), Shenzhen (#22 to #19), Bengaluru (#26 to #23), and Hangzhou (#28 to #25) shifting forward.

Poppy Gustafsson, Founder and CEO at Darktrace, mentioned, “At Darktrace, we’re proud to be constructing on the UK’s wealthy heritage in tech and innovation. Being a part of the UK’s tech ecosystem affords us entry to an enormous community of traders, researchers and expertise and has been instrumental in constructing a profitable AI enterprise and – particularly – advancing our main place in Self-Studying AI. I am thrilled to be an envoy for London Tech Week, a implausible alternative not solely to have fun the UK’s achievements up to now, however to drive our business ahead.”

The discharge of the newest World Startup Ecosystem Report coincides with London Tech Week, bringing collectively the worldwide tech neighborhood to deal with how tech can clear up a few of the world’s most urgent challenges. Key audio system all through the week embody Hilary Clinton, former US Secretary of State, Sebastian Siemiatkowski, Co-founder and CEO at Klarna, Alex Mahon, CEO at Channel 4 and Maria Raga, Founder and CEO at Depop.

This story is offered by NewsVoir. ANI won’t be accountable in any means for the content material of this text.

(Solely the headline and film of this report might have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)


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