Economy

Mumbai emerges top global ecosystem for start-ups: Report

KV Kurmanath Hyderabad | Updated on September 22, 2021

Bengaluru, Delhi, Chennai, Pune, Hyderabad find top slots in GSER 2021 report

Mumbai has emerged as the world’s top ‘Emerging Ecosystem’ for start-ups in terms of performance, funding, experience and talent and experience. Bengaluru is ranked 23rd and Delhi 36th in the Global Startup Ecosystem Ranking, according to the 2021 Global Startup Ecosystem Report (GSER).

Mumbai beat several top cities in the US and Europe in the ‘Emerging Ecosystem’ category. Chennai, Hyderabad and Pune too have found a place in the Top-100 city-based ‘Emerging Ecosystems’.

The report was released by Startup Genome and the Global Entrepreneurship Network in London today.

Valued at $16.3 billion, the Mumbai’s ‘emerging startup ecosystem’ stood at the eight position, with Detroit leading the Top-10 ecosystems by value with $37.2 billion.

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Mumbai ranked sixth in the list of ‘Ecosystems with four or more companies in the $1-billion club’ with four unicorns, while Guangzhou led the Top-10 list with 10 unicorns.

The financial capital of India stood fourth in the category of ‘Top 10 Ecosystems with total early-stage funding’, with an aggregate $843.5 million between the first half of 2018 and the first half of 2020.

Focus areas

Deep tech (Advanced manufacturing and robotics, blockchain, agtech and new food, AI and big data) remains the fastest growing group globally, the report said.

“Fintech also has experienced substantial growth in the last five years. The start-up sub-sectors in the growth phase are witnessing Series A funding deals at the impressive rate of 107 per cent over five years,” the report said.

Telangana’s standing

T-Hub, a start-up ecosystem enabler in Telangana, said Telangana has emerged as Top 15 Asian Ecosystem in Affordable Talent in the report.

“It also figures in the ‘Top 30 Asian Ecosystem in Performance’, which measured the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding,” it said.

Published on September 22, 2021

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