Bengaluru ranks 22nd in global startup ecosystem; 5th for tech VC investment, says report
According to the report, Bengaluru scored highly on categories such as funding, connectedness, market reach, talent and experience, and knowledge.
According to a report released by policy advisory and research firm Startup Genome, Bengaluru has moved up to 22 from 23 last year in the Global Startup Ecosystem ranking.
Startup Genome published its first Global Startup Ecosystem Report (GSER) in 2012. The 10th edition of the GSER-2022, in partnership with Crunchbase and Global Entrepreneurship Network, was released on June 14, 2022, at the ongoing London Tech Week-2022, ranking the top 30, 10 runner-up global ecosystems, and the top 100 emerging ecosystems.
According to the report, Bengaluru has moved up one place to 22 compared to last year. The city scored highly on categories such as funding, connectedness, market reach, talent and experience, and knowledge.
“This ranking mirrors the confidence entrepreneurs and investors globally have in Namma Bengaluru's ecosystem. We continue to grow and expand our global footprint,” Dr Ashwathnarayan CN, Minister for Higher Education; IT & BT, Science & Technology; Skill Development, Entrepreneurship & Livelihood, Government of Karnataka, said.
Bengaluru is also among the top 15 global ecosystems in funding and is among the top 25 global ecosystems in performance, according to the GSER-2022.
Bengaluru’s ecosystem saw eight $50 million + exits—three more than in the GSER-2021 period and improved in market reach.
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Research by London & Partners and Dealroom showed that Bengaluru is the leading Asian city and ranked 5th globally for tech venture capital (VC) investment in 2022.
In 2021, Bengaluru outperformed both Beijing and Shanghai in the amount of venture capital raised and number of rounds.
The UK-based research agency also found that Bengaluru ranks 8th in fintech VC investments globally. The city's massive growth in 2022 is largely attributed to greater access to funding with major funding rounds in 2022 for scale-up tech companies. Its median seed funding (2019H2-2021) was $5 million as compared to the global average of $4.7 million.
Edited by Megha Reddy
