India ranks 37th in global startup ecosystem in 2017: Startupblink Report

According to report released by global startup ecosystem map Startupblink, India was ranked 37th out of 125 countries in global startup ecosystem in 2017.
Startupblink is a global startup ecosystem map with tens of thousands of registered startups, coworking spaces, and accelerators. Its report prepared in association with ANSYS Startup Program measures startup ecosystem strength and activity. It includes global ranking index of 125 countries and 900 cities, measuring their startup ecosystem strength and activity. The rankings of country are based on thousands of data points gathered from various sources, such as incubators and accelerators that appear on StartupBlink global ecosystem.

Key Facts

Top 5 Countries in Global startup ecosystem in 2017 are United States (1st), United Kingdom (2nd), Canada (3rd), Israel (4th) and Germany (5th). Small nations of less than 10 million inhabitants like Sweden (6th), Denmark (7th), Switzerland (8th), and Singapore (10th) were placed in the top 10.
In Asia, the list was topped by Singapore (10th) and was closely followed by China (12th), South Korea (17th), and Japan (20th). In Africa, the list was topped by South Africa (38th) followed by Kenya (53rd), Egypt (54th), and Nigeria (57th).
India’s rank indicates that more has to be done in terms of ease of doing business, startup policies, and complicated tax compliance. The Indian startup ecosystem is also yet to see major exits which is seen as important measure to gauge the maturity of a startup ecosystem. India ranked below Latin American countries Mexico and Chile which stood at 30 and 33 respectively. Bengaluru, New Delhi, and Mumbai featured in the list top cities in the global ranking.

Month: Current Affairs - April, 2018