GS Paper - 3 (Economy)

Bangalore rose up three spots to be ranked 23rd in an annual analysis of the world’s most favourable ecosystems to build a globally successful startup, according to the Global Startup Ecosystem Report 2021 released on 22 September 2021 that is topped by the Silicon Valley in California.

What the report said

  1. Delhi held on to its 36th position in the ‘Global Startup Ecosystem Report 2021’ by Startup Genome, with Mumbai topping a parallel 'Top Emerging Ecosystems' ranking for the second year in a row.
  2. The Startup Genome report analyses cities around the world where early stage startups have the best shot at building global success.
  3. The research shows that Indian startups raised $12.1 billion in the first half of this year, demonstrating the rapid growth of India as a global hub for tech and innovation.
  4. As of August 2021, India has produced 24 unicorns in 2021, including six in just four days in April.
  5. The city of Bengaluru and the surrounding state of Karnataka is also the world’s 4th largest technology and innovation cluster and home to more than 400+ global R&D centres.
  6. Alongside Mumbai, a number of other Indian hubs made it into the ‘Top 100 Emerging Ecosystems’ list, including Chennai, Pune and Hyderabad.