Few key insights from the recently launched "StartupBlink Global Startup Ecosystem Index Report of 2024", which ranks the ecosystems of 1000 cities and 100 countries:
1) Silicon Valley's Renewed Dominance:
After years of decline, Silicon Valley has increased its relative gap over other ecosystems. In 2023, it was 2.5 times better than New York; in 2024, it is now 2.8 times better. This growth is significantly driven by its leadership in AI.
2) Singapore's Rapid Rise:
Singapore has climbed to the top 5 in the country rankings, up from 16th in 2020. The development policies and strategy there are very smart.
3) China Continuous Decline:
In 2019, I regarded Beijing as the only potential city that could top Silicon Valley within ten years. This is no longer in the cards. Beijing is now ranked 6th globally, and China is no longer ranked in the top 10. Despite being a great ecosystem, without going global, China won't break into the top 3.
4) Countries Showing Strong Momentum:
Several countries have shown significant progress this year, including Switzerland, Estonia, India, UAE, Colombia, Cyprus, and Azerbaijan. Paraguay has entered the top 100 for the first time.
5) Cities with Significant Momentum:
Cities demonstrating notable growth and momentum include Austin, Seoul, Mumbai, Miami, Barcelona, Jakarta, Sofia, Dubai, Cairo, and Riyadh. Arab countries, in particular, are showing positive trends in their startup ecosystems.
The world is constantly changing.