Press Release.
The 2020 Global Startup Ecosystem Report (GSER) from Startup Genome and the Global Entrepreneurship Network (GEN) has launched today at the Ecosystems Couch Conference, introduced by JF Gauthier of Startup Genome, Martina Larkin of the World Economic Forum, Jonathan Ortmans of the Global Entrepreneurship Network, Rajesh Agrawal of London City Hall, and Eui-Seung Kim of the Seoul Metropolitan Government.
The GSER is the world’s most comprehensive and widely read research on startups with 250 ecosystems studied, a ranking of the top 30 and 10 runner-up global ecosystems, and a top 100 ranking of emerging ecosystems. Since 2012, this research effort has provided rich insights and guidance to public and private leaders in startup ecosystems. The 2020 report shows how governments can support and leverage tech ecosystems to restart stalling economies that are recovering from COVID-19 lockdowns — as four out of every 10 startups globally have only three months or fewer of cash runway in the wake of the pandemic.
Bahrain’s results in the report are exciting, and include:
- Created $164 million in Ecosystem Value over the last 2.5 years
- Wage subsidies and Liberal tax regimes are cited as reasons a startup should move to Bahrain.
- Fintech is a regional sub-sector strength
Key highlights from the #GSER2020 include:
- A major beneficiary of the democratization of tech is the Asia-Pacific region, which has gone from having 20% of top ecosystems in 2012 to 30% of them today.
- In 2013, only four ecosystems produced unicorns or billion-dollar exits. Today, over 80 ecosystems have done so.
- Major movement within the Top 30 ranking: Seoul and Tokyo ascended into the Top 20; Washington, D.C., saw the largest gain, leapfrogging eight positions; and Seattle and Amsterdam-Delta both gained three positions. Berlinand Bangalore had the most substantial drops but stayed within the top 30.
“This is the time for policymakers, community leaders, and foundations to double down on their support of local startups — the #1 engine of job creation and economic growth,” said JF Gauthier, founder and CEO of Startup Genome. “The Global Startup Ecosystem Report is the foundation of global knowledge where we, as a network, come together to identify what policies actually produce economic impact and in what context.”
The #GSER2020 ranks the global top 30 and 10 runner-up startup ecosystems on seven Success Factors, including Performance and Talent. The top five startup ecosystems globally in 2020 are Silicon Valley, London, New York City, Beijing, and Boston, respectively. Additionally, the 2020 GSER includes the first-ever Top 100 emerging ecosystems rankings of startup ecosystems. The top five emerging ecosystems in 2020, in order, are Mumbai, Jakarta, Zurich, Helsinki, and Guangzhou.
“In GEN’s work to build smarter entrepreneurial ecosystems in every national economy, the Global Startup Ecosystem Report has become the most invaluable source of actionable insights that we can translate into better-informed policies and programs,” said Jonathan Ortmans, founder and President of the Global Entrepreneurship Network.
Find out how more than 100 entrepreneurial ecosystems across the world stack up and view the full report here: startupgenome.com/report/GSER2020.
