Startup Genome’s data illustrates the democratization of tech ecosystems, or regions with a lot of tech startups and the infrastructure to make them viable.
This democratization is most evident in Asia-Pacific, which now boasts 30% of the world’s tech ecosystems, compared to just 20% in 2012. On top of that, in 2013 only four ecosystems produced unicorns (startups with billion-dollar exits). Today, more than 80 ecosystems have done so. These ecosystems are huge contributors to economic prosperity. All told, the global startup economy is valued at nearly $3 trillion, a figure on par with a top G7 nation. Silicon Valley’s tech ecosystem is valued at $677 billion, compared to $92 billion for London and $47 billion for Tel Aviv.
Seven of the top 10 companies in the world are in technology, and 2019 saw close to $300 billion in venture capital investments across the globe, Startup Genome said. Among the top ecosystems, Seoul and Tokyo have ascended to the top 20. Washington, D.C. saw the largest gain, jumping eight positions, and Seattle and Amsterdam-Delta both advanced three positions. Berlin and Bangalore had the most substantial drops but stayed within the top 30. China has four cities in the top 30: Beijing, Shanghai, Shenzhen, and Hangzhou. Sydney and Melbourne are runner-ups.
Read More at Venture Beat
Read the rest at Venture Beat