Bengaluru has emerged as the 8th most popular city for startups in the world according to Startup Ecosystem Report 2022 released by Israel-based organisation Startup-Blink. It is followed by Mumbai New Delhi (13th), (17th), and Pune (90th) have also featured in the report.
The organisation assessed countries and cities around the world based on three primary parameters – Quality of startups, Quantity of startups, and the Business Environment Score.
The ranking of Bengaluru, India’s topmost city in the report has been going up since 2020. It was 14th in 2020, 10th in 2021. Bengaluru overperforms in the Edtech industry with a global rank of 5.
“While Bengaluru’s rank in the Asia Pacific region remained unchanged at 3rd, its relative position definitely improved. Last year, Shanghai’s score was 66% better than Bangalore’s score.
Now, this gap has been reduced to less than 12%, thanks to the good performance of Bengaluru and less impressive results in Shanghai.” said the report.
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On the global front, India continues to improve its standings in the global index, now ranking 19th after an increase of one spot this year. India is the 4th highest ranked country in the Asia-Pacific region, after Singapore, Australia, and China.
As for the second-tier cities, two new cities from India have entered the top 100 to take the total count to 5. One is Pune which stood at 90th position and Hyderabad at 97th position, this report said. Pune has seen an improvement of an impressive 14 spots and Hyderabad has seen an increase of 9 spots.
Chennai is not far behind, with a significant jump of 31 spots to rank 102nd. The 2nd tier ecosystems of India have all seen healthy growth.
The report further added that, “India’s startup ecosystem is not only a growth engine for its economy. If successful, startups will transform India’s productivity and will change the country beyond recognition. Startups will also be the engine to transform India’s informal economy into a transparent economy, which will allow the government the tax resources to finally make India the superpower that it has a potential to be.”
“The Indian government could take additional steps to improve this critical infrastructure and strengthen its startup ecosystem, as other countries in the region are growing fast. Startup India, the Government’s flagship startup initiative, as well as Make in India signal the public sector’s commitment to building the startup infrastructure.” the report adds.