India stands at the 20th spot among the top 100 countries that have been ranked in the Global Startup Ecosystem Index 2021 by Startup Blink. The country was in the 17th spot in 2019, after which it slid six spots down and stood at 23 in 2020. According to the report, India needs to better its infrastructure and Internet speed in order to further strengthen its start-up ecosystem.
Ranking of the Indian Cities:
India currently has 43 of its cities listed in the top 1000, globally, with Bengaluru(10th), New Delhi (14th) and Mumbai (16th) in the top 20.
Like last year, the US, the UK, Israel, Canada and Germany are in the top five spots this year too and continue their lead.
About the report:
- The report has a score for each location, which is calculated as the sum of three parameters: quantity, quality and business environment. The quantity parameter comprises elements such as number of start-ups, number of start-up related meet-ups, number of co-working spaces, number of accelerators, etc.
- The quality parameter, on the other hand, takes into consideration elements such as the number of employees per start-up, the presence of unicorns, exits and pantheon companies, global start-up events, presence of global start-up influencers, among other factors.
- The business score evaluates elements such as ease of registering companies and doing business, internet speed and freedom, level of English proficiency, research and development investment, number of patents per capita, availability of various technology services such as payment portals, ride-sharing apps, cryptocurrency, etc.