Startup Genome has launched its latest report on the global startup ecosystem. The group says the report is a result of an independent research with data on over a million companies across 150 cities. It also said working side-by-side with more than 300 partner organizations, frameworks and methodologies.
Key Highlights Of The Report
- The top five startup ecosystems overall in 2019 are Silicon Valley, New York City, London, Beijing, and Boston.
- Based on Success Factors such as Funding and Knowledge, the top five ecosystems for Life Sciences are Silicon Valley, Boston, San Diego, New York City, and London. This is the very first global ranking of Life Sciences ecosystems.
- Deep Tech startups — those relying heavily on intellectual property — are the fastest-growing group globally.
- The four fastest-growing Startup Sub-Sectors are Advanced Manufacturing & Robotics, Blockchain, Agtech & New Food, and Artificial Intelligence.
- Startup Sub-Sectors showing decline are Edtech, Digital Media, Gaming, and Adtech.
Related: Why Lagos Is The Most Valuable Startup Ecosystem In Africa
- There is no “next” Silicon Valley — instead, there are 30 startup ecosystems around the world that will soon lay claim to a parallel vibrancy and economic productivity.
- Movement within top 30 ranking: Paris cracked the top 10, moving up two spots to #9 overall; Amsterdam-StartupDelta moved up four spots to #15 overall; San Diego and Washington, D.C. cracked the top 20 for the first time.
So Who Are The Next 30?
- The report that some ecosystems show the potential to make the top 30 within five years. The ecosystems are referred to as the Challenger.
- The Challengers ecosystems are currently outside the top 30 ranking but growing rapidly.
- This is a diverse group, with Lagos and Jakarta alongside Moscow and Melbourne.
- Each Challenger ecosystem has at least one company in the billion-dollar club (unicorns and exits).
- They also share key characteristics: – Regional leadership: some are major focus points in their areas of the world, as São Paulo is in South America, Lagos is in Africa, and Jakarta — the 4th most populous metropolitan area in the world and home to four unicorns — is in Southeast Asia.
Charles Rapulu Udoh
Charles Rapulu Udoh, a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organisations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution and data analytics both in Nigeria and across the world.