23 minute read
* Article updated
Baronial 22, 2022
with new content and an updated list of startup cities.
A startup is more than a business. Each unique startup brings innovation to an industry and to the cities around the world. There are many ingredients that contribute to a healthy entrepreneurial startup ecosystem. Just what makes a
attractive to entrepreneurs?
The ingredients of a healthy entrepreneurial ecosystem
The digital technology sector is exploding on a global scale, surpassing most business segments over the past two decades. This development is steady and continuous with the digital industry becoming an increasingly important growth sector for startups.
In order to understand what makes startup revolutions possible, people focus on numbers, merely they should as well focus on the quality of life and unique specifics that each city tin bring to a startup. Beneath we accept a peek behind the scenes. We’ll search in depth to empathise what makes each startup ecosystem so special.
The rise of entrepreneurial countries around the globe
The all-time startups in the world are spread across many cities, and the reasons for this are complex and multi-dimensional. As business dynamics represent a constant flux, the ratings below are approximated instead of fixed. Every urban center has the right to become a part of the global startup revolution and reap the benefits of chore creation, innovation, and economic growth.
Below Valuer explains the vibrancy of the startup cities mentioned, what tin exist washed to sustain the uniqueness of the existing ecosystem, and what makes them the best cities for entrepreneurs.
This list is compiled from data collected from the Valuer platform in society to detect cities with a high number of startups per capita. In addition to these new insights, we have used our previous startup city listing from 2019 as a reference, while introducing new cities and rankings for 2021. If you are curious every bit to encounter what the l all-time startup cities in 2019 were, our ebook on the matter is free for download.
The all-time cities for startups around the world
50. Bengaluru, India
Formerly known as Bangalore, Bengaluru is considered one of India’southward well-nigh progressive and adult cities. The metropolis is often referred to as the
Silicon Valley of India
due to the big number of information technology companies located in the city.
With an economic growth of ten.3% and being the 2nd fastest-growing major metropolis in India, information technology will exist no surprise you lot’ll exist seeing this metropolis make information technology’s style to the pinnacle in the near futurity. Government initiatives have helped made this possible. The metropolis has incredibly affordable housing solutions and take grown into a dynamic city that is growing at a phenomenal pace.
Startups: Zoomcar, FreshMenu, OYO
Accelerators/Incubators: GINSERV, IIIT, Khosla Labs
49. Hangzhou, China
Hangzhou is the upper-case letter of the Zhejiang province and its most populated city. It is also domicile to the ecommerce giant Alibaba. Becoming i of China’due south international ecommerce cities has seen Hangzhou develop into a high-tech hub for startups.
The city’southward GDP k
rowth rate was simply nether 4% in 2020 generating around 245 billion USD. The tech startup manufacture in Hangzhou benefits from governmental policies granting taxation breaks to tech firms, housing subsidies, and support events to generate strange investment.
Startups: Beidian, Tongdun, dtdream
Co-working spaces: Alibaba Innovation Heart, Fenghui Consulting, Liangcang Accelerator
48. Shenzhen, Mainland china
Shenzhen has been referred to equally the “Silicon Valley of Hardware”, due to the sheer number of factories and resellers. However, the metropolis itself has seen a massive transformation over the last thirty years. Now the city is a major center of innovative startups in Prc, with infrastructure and incentives put in place to support the startup ecosystem in Shenzhen.
The Chinese government in 2010 opened the city’s special economic zones to comprehend the entire city, allowing for the growth we have seen over the concluding decade and making the city a hub for hardware-based startups globally.
Startups: OnePlus, DJI, Orbbec
Incubators/Accelerators: ParticleX, Innohub, SOSV
47. Lisbon, Portugal
Supported by the local regime, Lisbon has go aheaven for startups, with accelerators and incubators scattered over the city. It is in role helped past Web Summit moving to Lisbon, which was previously held in Dublin, and by creating a national network of tech hubs and
new companies in Lisbon
through the StartUP Voucher initiative that gives more than 400 entrepreneurs a one-yr fellowship to pursue their ventures.
Today Lisbon scores high on access to talent, affordable housing, and adequate public transportation. Should we mention the gorgeous weather?
Startups: Unbabel, Triller, Muzzley, Aptoide
Incubators/Coworking spaces: Startup Lisboa, Building Global Innovations, INOVISA, Beta-i
The Santiago startup surround is accepting of failure, and they have adopted this attitude as a way to learn and abound. The Chilean ecosystem has been dubbed “Chilecon Valley”, only don’t be fooled by the proper noun. It’due south estimated that around xc% of the startups are housed in the country uppercase, Santiago. What made them and so successful?
The wealth primarily comes from the copper and mineral mines. But they are making a name for themselves in the technology sector. Thanks to the adoption of the modern values of collaboration, they are booming. Disinterestedness free funding, cheap accommodation, and gratuitous coworking spaces are only some of the traits that accept fabricated this identify so attractive for startups.
Startups: Junar, GoPlaceIt, ChileTrabajos
Co-working spaces: Start-Upward Chile, Santiago Makerspace Spa, LAUNCH coworking
45. Antwerp, Kingdom of belgium
Antwerp sits in the heart of Western Europe and over recent years has seen growth in the startup ecosystem through various industries including health, smart cities, energy, and cleantech. Besides its diverse mix of culture and language, Belgium is as well revisiting and re-working some of its tax laws to incentivize business with a tax shelter for SMEs of upwards to thirty%.
Other than taxation incentives, Antwerp has invested in concrete incubators and accelerators to support the startup community in the city and is introducing an initiative chosen the “city of things” as a real-life lab where companies and startups tin examination out innovative ideas for creating a smarter city.
In full, Antwerp is becoming an innovative and exciting place for startups, peculiarly within tech and smart urban center applications.
Startups: Centrica, Cashforce, Unifly, FundRequest
Co-working spaces: Start It @KBC, Retrieve with people, imec.istart
44. Beijing, China
The new Silicon Valley in the next 10 years? Here new businesses accomplish gigantic scale rapidly, in calorie-free of the fact that the residential market is around 22 million. That is almost iv times the population of Kingdom of denmark.
et, an expansive market alone does not imply that a place will plough into a startup hub. It is the mix of market place size, combined with extreme consumer-adoption speed of all new services plus the entrepreneurial mindset and hunger for startups to scale. Here, founders use talent from the two best Chinese colleges — Tsinghua and Peking.
They are besides considered equally the largest entrepreneurial ecosystem in the world. Technologically, the city is avant-garde and the country is the leader in AI. Beijing solitary made up for 36 pct of venture funding in Prc.
Startups: Ao Graph, AirVisual, ABC Fintech
Incubator/Accelerator/Co-working: TusStar, TechCode, Garage Cafe
43. Lyon, France
With over 357 startups, the startup ecosystem in Lyon is starting to emerge. Information technology has become a popular destination for seed stage startups finding their feet with bustling enquiry centers, incubators, and accelerators.
And while the salaries are lower, so is the toll of living. Entrepreneurs are outset to enjoy the less hectic environs of Lyon compared to Paris. It is considered as 1 of the meridian cities for innovation in Europe and brings business in life sciences, cleantech, digital, and smart cities.
Not just does the city boast an incredible transportation infrastructure, but the digital infrastructure is as well enviable. The metropolis also has opportunities for mentorship, managerial assistance, and bang-up educational institutes, effectually 40 to be exact.
Startups: Enyo pharma, geolid
Co-working spaces: Ecoworking, La Cordée Coworking Lyon
42. Moscow, Russia
Coming in at number 42 on our listing is Moscow. Russian federation has a massive economy and is ranked every bit the 9th most populous country on the planet. Of course, there are clear drawbacks of business in Russia that are always revolving around the political climate.
Nonetheless, at that place take been efforts made in contempo years to make Moscow increasingly inviting to startups, such equally increasing co-working spaces and a national tax rate that is lower than the U.S., making Moscow ever more than attractive to startups going frontwards and the reason why there are over 1900 startups in the city currently.
Startups: Fura, VisionLabs, YouDo
Incubators: Global Venture Alliance, IIDF, Waves Labs
41. Greatcoat Town, South Africa
Cape Boondocks aims to be Africa’s applied science hub with Silicon Cape continuing ‘to promote and grow Cape Town’s tech startup community’ and to stand for the idea of startups in Southward Africa and the community. The biggest obstruction to the startup ecosystem today is mostly regulatory, such as Commutation Control regulations that bear upon investment and venture capital.
Greatcoat Boondocks offers a number of co-working spaces such every bit a Wi-Fi lounge on elevation of Table Mountain where entrepreneurs meet and work on Tuesday’s for free. Cape Town’south unparalleled diversity, infrastructure‚ world-class universities, and vibrant surround accept given the region a competitive edge to attain beyond other startup ecosystems on the continent.
This makes it one of the best examples of businesses choosing vibrant locations for their headquarters.
Startups: Kuba, WeFix, Luno
Co-working spaces: Mest, Workshop 17
40. Seoul, Republic of korea
Southward Koreas startup scene is solid and information technology is standing to develop. More than half a billion dollars a year goes towards subsidizing startups. FinTech and IoT are key research and development territories for Korea, and it is becoming a tech hub for entrepreneurs.
Especially relevant is the increasing number of young Koreans who are starting to become interested in startups. Merely at that place are problems. The startup civilisation is yet non adult as industry high-ranking jobs are associated with honor, rather than starting your ain LLC. And large corporates are not fully embracing mergers and acquisitions with startups.
Startups: ProtoPie, Lunit, Carry Protocol
Incubators/Co-working spaces: Seoul Infinite, WYATT Infinite, WeWork Samseong Station
39. Milan, Italy
It is a city of abundance, with cute rolling hills in the distance, fashionistas, and finance giants roaming the streets. Simply in that location all the same remain barriers stopping this wonderful city from topping the list. Immature entrepreneurs are finding it increasingly difficult to grow their ventures.
How tin can Italy ameliorate its startup scene? Easy. Offset of all, learn from Israel – create a more than open and sharing community, focus on building success stories and then entrepreneurs and investors recognize their economic potential. Furthermore, analyze data on unicorns – understand the reasons backside their success, create hubs, co-working spaces, and entrepreneurial media.
Ever defenseless yourself wondering why do incubator facilities remain very pop with commencement-upwardly businesses and entrepreneurs? Look no further than Milan with its innumerous incubators and accelerators to adjust startups.
Startups: Iconium, Yolo
Co-working spaces: Impact Hub, PoliHub
38. Hong Kong, China
While it’s been rated equally the
most expensive city
in the world for expats, it’s also go a booming hub for startups. ‘Recent
funding rounds demonstrate that HK
is able to produce scaleups i.e.
raising $637 meg in rounds B and C and
raising $100 million in series C.’
Hong Kong as well has an excess of over 200 Fintech companies, according to
Hong Kong Cyberport. So there’southLaunchpad (SULP), Asia’s largest hardware trade fair with over 2000 participants. It is a base of operations for strong partnerships and network building amidst startups and other industry players. Incorporating a company in Hong Kong has benefits, including economic freedom, political stability, and pro-business governance.
Startups listing: startupr, pickupp, easyship
Co-working spaces: WYND CO-WORKING Infinite, the Hive, playground.work
37. Brussels, Belgium
Belgium is dwelling house to a dynamic and apace developing startup scene. The majuscule urban center Brussels houses not merely theEU Parliament,
NATO, it’s a booming hub for entrepreneurs.
Information technology’due south the center of European politics and for European businesses, this provides an excellent opportunity, especially for startups. It’due south proximity to entrepreneurial hubs in Deutschland, France, the Netherlands, and the UK as well make Brussels a favorable location for entrepreneurs.
R&D incentives are common in the capital letter, just for many, the average cost of living is but too loftier. But this doesn’t stop tech entrepreneurs from sharing accommodation. With initiatives like
Health Tech,Fintech Hackathons, and
IoT seminars, Brussels has become an agile actor on the global startup scene.
Startups: Citizenlab, eFounders, Medicheck
Incubators/Co-working spaces: eebic, Sirris, Co.station
36. Budapest, Republic of hungary
This beautiful metropolis with an intriguing history is a major startup hub. It is a top city for tech startups in Europe, particularly due to its strategic location on the river Danube which is a major trade route for Europe, and the wide range of educational institutes.
The authorities has recognized its ascent popularity with young companies, introducing a monitoring program, and funding local incubators and startups. But the success of these programmes are debated as entrepreneurs have abused the funding and instead created incubators close to the capital, but piece of work exterior of the city.
Budapest has appeal, just the problems are apparent and with a lack of proper mentorship, entrepreneurs are left to figure out the startup landscape for themselves. But the upper-case letter is still flowing with investment from the government. Some entrepreneurs are quite wary of this and instead search for private funding.
Startups: Antavo, AIMotive
Incubators/Co-working spaces: Impact Hub Budapest, Digital Manufacturing plant
35. Cologne, Frg
Cologne has an reward in the startup scene in comparing to Berlin. It is not as stressful and overpopulated every bit Frg’s capital. Many giant corporations find a abode here, like Deutsche Telekom, Electronic Arts, and Deutsche Mail service.
The metropolis has a history of heavy investments in media and tech. In terms of trying to concenter global investments, the metropolis can follow Berlin’south example and make an effort to enable networks amid entrepreneurs, equally well as connections among investors and founders.
Local startups: flowtify, envelio
Co-working spaces: CoWork-Lab, STARTPLATZ, Ehrenspace
34. Washington D.C., United states
The Washington D.C metro area boasts well for startups in 2021. It is one of the most tech-diverse cities in the USA and it is no wonder when you consider the location and incentives of setting up shop in D.C.
D.C. sits at the middle of the U.S. government and intelligence communities, which is probably why the city boasts a large concentration of federally funded R&D projects. Washington D.C. also boasts a rich VC environment, as in 2020 VC’s invested just under two billion USD into startups within the metropolitan area. If you couple that with favorable taxation incentives, information technology’due south no wonder why so many startups call D.C. domicile.
Startups: Optoro, Mapbox, Virtru
Incubators/Co-working spaces: Halcyon, Global Development Incubator, Fortify Ventures
33. Bucharest, Romania
The local startup ecosystem is stable and growing, cementing Bucharest’s place every bit one of the acme tech hubs of the world.
Cardinal industries in the expanse are ecommerce, Cybersecurity, Hardware, Games, and Social Media Marketing. In improver, the about successful startups are within SaaS, Fintech, Healthcare, Aggrotech, Consumer Apps, On-demand App Evolution, Big Data, HR Management, AR, VR, and AI.
In that location’s a lot riding on the opening of additional hubs and accelerators. With then many talented specialists available in one region, Bucharest is ready for a surge in startup funding.
Startups: Froala, UiPath, Artistic Tim
Co-working spaces: TechAccelerator, Carbon
32. Madrid, Spain
During the last few years, the Castilian startup ecosystem demonstrated that it tin concur its ain on an international stage. But is “fine” adept enough? Although the bonding between founder and investor is starting to pay off, the procedure is slower than information technology should be.
Why? A few unique elements injure the local business ecosystem. Local young talents shrink in the face of fear and have no confidence in the powerful forcefulness decision-making their professional destiny. Individual success in Madrid is confronted with mistrust and suspicion, instead of being supported, respected and celebrated.
As a effect, when local entrepreneurs engage in startups they focus on adventure minimization instead of innovation. This mindset prevents them from executing ideas on a larger scale and telescopic.
Startups: billin, tewer, nyuron
Co-working spaces: FLAG COWORKING, Spaces, Utopicus Colegiata
31. Warsaw, Poland
Poland is becoming a hotbed for great tech startups. Warsaw tin be proud of its big startup community, but it is non united. The local startup ecosystem offers a ton of Eastern European development talent. Local people are open and helpful, and the multifariousness in this city will go out you lot incoherent.
From compages to people there is something for everyone. Shops working 24/seven. Expert public transport. Cheap price of living. Competition for talent. Smooth constabulary and local taxes could pose a problem for entrepreneurs along with the local currency.
Startups: Minebest, Telemedi.co
Incubators/Co-working spaces: AIP Warsaw, Twój Startup, Mindspace
30. Melbourne, Australia
To say that Melbourne is startup-friendly is an understatement. According to
Medium, the city has seen a massive increment in incubators and accelerators, with a 900% growth in available coworking spaces.
This has resulted in one accelerator for every 41 tech-based startup and 15 coworking spaces for every 100 tech startups. Melbourne has long been viewed as a tech startup hub in Australia and has consistently been in the pinnacle livable cities in the globe list for a couple of years, all of which make this urban center a great option for startups.
Startups: Waddle, CanWork
Incubators: YBF Ventures, Mktplace Ventures, Hatch Quarter
29. Prague, Czech republic
Prague is an boggling place for entrepreneurs and investors. It is mainly due to modest living costs and low wages, making information technology less enervating to showtime a concern. Prague also offers the best transportation system on the continent.
The city is beautiful, rich in culture, and safety. Plus, most people speak English. The didactics system is bang-up, providing a plethora of talented individuals. Its popularity among travelers has added to its vibrant and diverse expat community, bringing valuable ideas and global feel.
Startups: Supernova, Budgetbaker, Angee
Accelerators/Co-working spaces: Locus Workspace, CoWorking Prague, Bear on Hub Prague
28. Vienna, Austria
They take consistently been labeled as the city with the best quality of life, and they are gaining the interest of “early-phase investment upper-case letter”. With Vienna winning the most liveable city under the
quality of life survey, it is picayune wonder why
of the cities population are foreign nationals.
The door to a wide marketplace of ideas and innovation volition open every bit more and more entrepreneurial-minded expats decide to call the city their habitation, making Vienna the beneficial winner of brain drain.
Startups list: Byrd, JobRocker, Zommsquare
Co-working spaces: Impact Hub Vienna, Frequentis, A1 Startup Campus
27. Paris, French republic
Startups and innovation have gradually become an of import segment of France’s business culture. With excellent venture capital networks, financing options on the rising, plenty of incubators, co-working spaces and improving regulations, they have a lot to offer.
Startups and innovation have gradually become an of import segment of French republic’s business civilization. With first-class venture uppercase networks, financing options on the ascension, enough of incubators, co-working spaces, and improving regulations, they have a lot to offer.
Something to await forrad to for startups in Paris is that the French taxation charge per unit for businesses will drop from
33% to 25% by 2022
why you should fix shop in Paris.
Local startups: Qonto, Feed, Alan
Co-working spaces: Ventech, AGORANOV, PARTECH SHAKER,
26. Barcelona, Spain
Accepting and facing challenges is a part of any startup ecosystem. In Barcelona, founders and investors are trying to play information technology safe and miss out on opportunities. Still, the startup economy hither is strong.
Information technology employs almost 12,000 people within industry sectors similar IT, Mobile Software and Services, ecommerce, Big Data, and Tourism.
In conclusion, with investment in startups hitting over $700 million in 2017, Barcelona takes its off-white place on this list.
Startups: CornerJob, wesmartPark, Coverfy
Incubators: Betahaus, MOB, Talent Garden Barcelona South.L
25. Frankfurt, Germany
Although Berlin is the unarguable center of the German startup ecosystem, there is another underdog looking to climb the ranks of the German startup ecosystem and that urban center is Frankfurt.
It is a preparation footing for entrepreneurs with its vast number of corporate headquarters in the finance manufacture. Still, when information technology comes to the number of local Venture Capitals, Angels, and Investors, startups in Frankfurt are facing hard times while trying to find funding.
Withal, here entrepreneurs tin find excellent conditions. And it is abode to a growing number of expats, making it a friendly place for internationals. You’ll also find a number of prestigious universities, like the University of Mainz.
Startups: Clark, covomo, Flixihub
Co-working spaces/Incubators: Unibator, CoWo21, BEEHIVE
24. Chicago, USA
What makes Chicago and then unique is that it is one of the almost diversified economies in the world. The diverse nature of the cities industries has immune startups to sell across sectors, which is one reason why the startup landscape in Chicago has flourished.
It is the Midwest hub of the U.s.a. and has more than fortune 500 companies in the expanse than anywhere else in the state. This poses a peachy spot for startups and corporations alike looking to innovate through collaboration and for startups looking for acceleration. There are also plenty of coworking spaces in Chicago, which makes it one of the best cities for entrepreneurs.
Startups: Tempus, VillageMD, Uptake
Co-working spaces: TechNexus, 1871, mHUB
23. Atlanta, USA
Atlanta’due south affordability and admission to resources is what makes the metropolis grab the number 25 spot on our list. Access to VC funding is in no shortage every bit in 2019 VC investments in Atlanta-based startups reached 1.8 billion USD.
Quite only, your dollar goes further in Atlanta then compared to other major U.Due south. cities. This is also helped along by favorable taxation breaks startups receive in the land of Georgia, such equally the Angel investor tax credit, which grants investors a 35% revenue enhancement credit incentive to invest in companies.
However, the increased competition ascent in Atlanta’s startup hub could get in harder for new startups to accept reward of the favorable entrepreneurial mural the urban center has produced.
Startups: Greenlight Finacial Technology, Popmenu, Bakkt
Co-working spaces: ATDC, Atlanta Tech Village, Atlanta Ventures Studios
22. Sydney, Australia
Australia is a vibrant country with exciting energy, and the local startup scene is booming. Australia’s economic system is strong. It’s theearth’southward 13th-largest economic systemwith the9th-highest income.
The job market is solid, salaries are high, and the minimum wage is higher on average comapred to most countries. Amazingly, the land hasn’t had an economic recession in more than
Sydney is the largest of the Australian startup hubs with 35% of the nation’south startups, followed by Melbourne. The area is filled with incubators and accelerators with one spreading 11 floors and 16,722 square meters. All-time of all, it’southward correct in the heart of the city.
Startups: Hivery, Veromo, SproutStack
Co-working spaces: Coworking Infinite Sydney, Fishburners Sydney Coworking Space, Work Guild Sydney
21. Copenhagen, Kingdom of denmark
The Danish startup ecosystem is incredibly interconnected and if you are a startup in the city, there is no dubiety that you’ll exist on a start name basis with most of the founders in your surface area. Danish startups are receiving fewer investments from business angels.
But this is not necessarily a bad thing. The investments are getting bigger! There is government support bachelor to newly formed businesses too. The “Danish Startup Fund” uses authorities funds to loan, fund, and requite VC financing to startups. Workers receive loftier salaries too.
But there are some changes that need to take place for the city to dominate. A major one beingness the limited admission to early-phase funding.
Startups: Valuer, SOUNDBOKS, OrderYoyo, Peakon
Co-working spaces: Thinkubator, Go Grow, Accelerace
twenty. Tel Aviv, State of israel
Tel Aviv is the business capital of Israel and it is considered i of the meridian entrepreneurial destinations for innovation. Many Us-based companies accept moved their research offices to Tel Aviv because of their notorious pool of talent and renowned startups in technology.
Equally far as cultural differences get, Israeli businessmen and women are tearing negotiators and taking risks is role of their culture. It is both highly appreciated and encouraged, especially within the startup environment.
The metropolis is a unique mixture of highly advanced startup ecosystems with the Mediterranean civilization on the side. Everybody speaks perfect English and many world-famous venture capitalists are located hither.
Startups: Cloth, LawGeek, Lemonade
Incubators/Co-working spaces/Accelerators: 500 Startups, 8200 EISP, By The People
19. Los Angeles, Usa
Los Angeles is its own startup beast with over ten,000 startup businesses, according to the Valuer platform
. Venture uppercase is readily bachelor, businesses have a lot of freedom, and the teaching is exceptional, simply also incredibly expensive.
There is no doubtfulness that this city is a popular destination for startups and job seekers. If you are a Software Engineer, y’all would exist enticed past the average bacon over 97,000 USD.
A massive drawback is Los Angeles’south sprawling city scape and transport congestion. However, this hasn’t stopped the overwhelming masses of exciting startups flooding the startup scene in LA.
Startups: Inspire, TaskUs, Ataxia
Incubators: Opodz, Blank Spaces, Bixhaus
18. Munich, Deutschland
Entrepreneurs have access to resources for every developmental stage and a community supported network system. The city offers accelerators, grooming, architect labs, feedback, and inspirational events.
Munich hosts startups related media channels, workspaces, pitching, and demonstration events. The launch of the online platformmunich-startup.de, brought all actors and activities in the Munich startup community together in a single virtual space.
TheMunich Technology Center (MTZ)
provides premises for technology startups, equally does
in the eastward-end Werksviertel district. Munich is experiencing constant growth. With its electric current population of i.five million, the city is expected to accomplish 1.eight million by 2030.
Increasing urbanization is changing people’s lives and confronting cities with a series of major challenges similar networking, mobility, renewable free energy, the ability supply in general, and the design of public spaces. As a outcome, investor networks, business angels, venture capitalists, and infrastructure are blooming.
Startups: EGym, Userlane
Incubators: Strascheg Middle for Entrepreneurship, Munich Engineering science Center, Werk1
17. Singapore, Singapore
Singapore has a lot to offering, from modern infrastructure and an educated workforce to strategic proximity to many emerging and developed markets. Information technology is also i of the well-nigh innovative cities in the globe.
Recollect the contempo contest between Singapore and Hong Kong? Singapore won by earning recognition amidst investors as the best identify for expanding or starting a new business in Asia. The two are former British colonies, with well-structured governments, free-port trade to foreign investors.
The two have a city megapolis and reach between 5-eight million citizens. Both expanded later on World War II, surpassing even Nippon’s Gross domestic product per capita.
Today Singapore has one of the best didactics systems in the world and has become a startup hub for entrepreneurs, tech companies, and investors.
Startups: Agile.Ai, Liquid, OSOME
Incubators/Co-working spaces: AccelerAsia Pte. Ltd., Clearbridge Accelerator, SG Fintech Bay
16. Toronto, Canada
Toronto is building on its strengths. First of all, information technology offers a healthy and diverse society for multiple collaborative initiatives, and programs that support startups’ ability to commercialize, as well as a fantastic network.
Furthermore, smaller and medium-sized enterprises accept been recognized as the building blocks of the Canadian economy. In addition, Toronto’south Economic Growth Sectionalisation supports entrepreneurial efforts with multiple innovation infrastructure programmes. It has Business Incubators, Hubs, Accelerators, and Shared Working Spaces.
Startups: Discourse, Top Hat, Rumie
Incubators/Accelerators: TheNext36, Artistic Destruction, ideaBOOST
15. Boston, United states of america
It has been an intense decade for entrepreneurs in the expanse. Information technology is odd considering that Boston is dwelling house to MIT, Harvard, and other prominent colleges, and have a long history of software engineering and innovation evolution.
Near of the startups in Boston are, in some way or another, tied to those institutions. This can exist a blessing or a curse for many founders and investors in the expanse. Consequently, the Boston startup ecosystem is trying to make a comeback but they have to overcome their key weakness – the absenteeism of shared driving power.
They are unlike from Silicon Valley in regards to socializing and edifice networks along with focusing on communication and building trust. These differences modify the macro dynamics within numerous organizations.
Startups: Veo Robotics, Alyce, PathAI
Incubators/Accelerators: MassChallenge, Techstars, Necktie ScaleUp
xiv. Seattle, USA
Companies like Amazon, Microsoft, Starbucks, and Boeing are among the many former startups who have establish a home in Seattle. The culture hither is “what are you working on and how can I help”.
And they level it upward and capeesh people who are eager to contribute to their startups and the ecosystem every bit a whole. Seattle is a metropolis rich with talent and that sustains a leading startup ecosystem.
Startups: Skilljar, Glowforge, Gigamon
Accelerators: ATLAS Workbase, CoMotion Labs, SURF Incubator
13. New York, USA
New York is home to many of the best startups in the world, housing many unicorns (Vice Media, Buzzfeed), and startups that have exited the marketplace. This, in part, is attributed to the ever increasing and present VC investments.
It is both a cultural, financial and media hub making information technology an all-around gem for businesses no matter the size or maturity. This too means that the city attracts talent from beyond the world. And best of all, startups and corporations collaborate with one another.
It is an ecosystem that is worlds autonomously from Silicon Valley. But one major downfall is the extraordinarily expensive housing market place making it less than affordable for young entrepreneurs.
Startups: General Assembly, Leaflink,
Accelerators/Incubators: The Farm SoHo, Workville, Croissant Coworking
12. Berlin, Germany
Coupled with a vibrant cultural scene, dynamic economic evolution, and a maturing applied science ecosystem, Berlin is one of the height startup cities in the world.
Living costs and rental prices for offices are quite affordable, and the atmosphere is ideal for people with an entrepreneurial spirit. If you kickoff a business organization in Berlin, there is a skillful likelihood of gaining support from investors.
The public sector also offers additional initiatives to entrepreneurs and businesses in an effort to foster economical growth and employment. Furthermore, yous don’t demand a local passport or some fancy diploma to live here – Berlin welcomes talent from everywhere.
A startup hub for entrepreneurs, tech companies, and investors.
Startups: chatterbug, N26, Coya
Accelerators/Incubators: Project A Ventures, Hubraum, Betahaus
11. Amsterdam, The Netherlands
If we compare the local startup scene to other leading startup cities, Amsterdam has the highest boilerplate net salary, the fastest mobile cyberspace speeds, and the highest standard of living.
Other factors like the cost of rent, beer, and a loving cup of java, Amsterdam appears effectually the middle amid other startup Eu cities, with London and Dublin coming out equally the nearly expensive.
According to I Amsterdam, the Dutch capital letter has it all: high-tech, scientific R&D, and an innovative mindset which naturally pb to a bright startup ecosystem
Add to that holland remarkable ability to forepart run early adoption of tech and you lot take the perfect environment.
Startups: SkinVision, Picnic, Bux
Incubator/Accelerators: 15KM, Amsterdam Innovation Arena, ACE
10. Vancouver, Canada
Vancouver is the tertiary largest city in Canada and is often chosen the ‘Canadian Seattle’. This is for good reason as almost 3000 startups per twelvemonth flourish here thank you to unlimited admission to world-form talent pools.
Slack, Hootsuite, and Unbounce are a few names that you might recognise. They have a solid entrepreneurial culture, a reasonable rental market, and a global network of clients. The drawback for startups in Vancouver still, is its access to abundant VC funds, like you lot would run across with its
neighbor to the south, Silicon Valley.
The startup ecosystem in Vancouver benefits from its xvi leading universities in the surface area, generous grants from the government, and a startup-friendly tax system.
Startups: Spare Labs,
Accelerators: Spring Vancouver, Victory Foursquare, Futurpreneur
nine. Oslo, Kingdom of norway
Oslo’s fast development is no coincidence and it didn’t happen overnight. It is the fastest growing Nordic country in terms of investment, and Oslo is leading the way.
It is 1 of the all-time places for startups. The startup revolution was recognized by the local government and is heavily supported, peculiarly during the last few years, through collaboration and cooperation.
The government has created an entrepreneurial haven with early on-stage financing, educational activity, and technical support.
Startups: Yearbase, Capassa, Konsus
Incubators/Accelerators: Oslo Cancer Cluster Incubator A/S, Oslo International Hub,
8. Dublin, Ireland
Dublin is fast becoming a tech startup must with its
depression corporate tax rates
and central location. It’south become home to many large American corporations headquarters and popular startup businesses.
With a strong and growing startup sector, Dublin can offer hubs, accelerators, and incubators along with generous funding and seed capital.
Government support through the Enterprise Ireland Agency has has helped prop up the startup ecosystem in Dublin and a reason why the city has a stiff technology industry.
Startups: Genomics Medicine Ireland, Jobbio, Pointy
Accelerators: ARC Labs Waterford, Dogpatch Labs, Ignite Programme
seven. Istanbul, Turkey
Istanbul has a very unique location. Nestled in between the European and the Asian continent, the Turkish capital is an bonny location for starting a business. If you’re strapped for greenbacks like the bulk of entrepreneurs and so you volition find very reasonable and affordable housing.
The metropolis draws talent from around the world as foreign entrepreneurs are able to start their ain private visitor. They besides take
favorable FDI laws
meaning that strange investors have the same investment rights equally local investors.
Startups: Kolay Randevu, Iyzico, Spirohome
Accelerators: Bear upon Hub Istanbul, Workinton
vi. Stockholm, Sweden
Stockholm is often chosen a unicorn factory. Even with its relatively tiny population of one.65 million citizens, Stockholm has been recognized on a global level to exist amid the strongest startup ecosystems today. It is besides known for producing whopping success stories such as Spotify, Skype, Rex, Mojang/Minecraft, and Klarna, just to name a few.
The startup ecosystem in Stockholm is spurred on by the government’s
in innovation and implementing a low corporate revenue enhancement
infrastructure within the land. This is in function why
Sweden also has the second-largest concentration of billion-dollar companies per capita, behind Silicon Valley.
As such, Stockholm shows how a tiny domestic market can shape global mindsets, building unique business models, and engaging with entrepreneurs beyond the globe.
Startups: Karma, Hedvig, Kry
Incubators/Accelerators: STING, SU Inkubator
five. Helsinki, Finland
Helsinki’s startup ecosystem has it all: talented entrepreneurs, investors, hubs, accelerators, and primal influencers, and there are lots of startups receiving early-stage funding. They offer strong government support to newly formed business.
The “Finnish Startup Permit” (formed in April 2018) is one such initiative that gives high potential entrepreneurs the opportunity to build a startup and integrate into the local ecosystem. With companies like
Clash of Clans,
– Helsinki has a rich entrepreneurial legacy.
And as a result of the Finnish smart city development, multiple new urban center exits were built, a tactic that benefited the concern environment. Yet, the greatest feature is its global connectedness and its significant and meaningful relationships between entrepreneurs in different ecosystems.
Startups: Enevo, Sulapac, Oura
Accelerators/Incubators: NewCo Helsinki Accelerator, Gorilla Ventures, XEdu
4. Tallinn, Estonia
It is piffling wonder why Tallinn is referred to as a startup paradise. What Tallinn offers is the digitalization of well-nigh everything, as you can open up a banking company account in Estonia without going to the bank, or for that affair, even be in the land.
Its tax system is also entrepreneurial friendly, having competitive rates at 21% with no double taxation on dividend income. This is coupled with an affordable cost of living and ranks above average in education, social connections, ecology quality, and work-life residuum according to the OECD index.
There is even gratis public transportation and public wifi in the country. Equally Tallinn is on the smaller side of the European majuscule cities it ranks high in per capita ratio of startups to population, making it picayune wonder why it ranks at number four on our listing.
Startups: Bolt, Paxful, Veriff, Starship Technologies
Accelerators/Incubators: Tallinn Creative Incubator, Startup Wiseguys Tallinn, EIT-Cimate-KIC
three. Austin, U.s.
The upper-case letter of Texas was named the#1 place in America to start a businesspast CNBC, the top metropolis for “small-business vitality”, and the
top urban center for launching a technology startup by Sungard Availability Services.
Locals are altruistic and often make time to help entrepreneurs and the city is continuing to build cocky-supporting networks with over 10 startup incubators, accelerators, and hubs.
There are as well special services provided for seed stage companies. Furthermore, Austin scores college than Silicon Valley in terms of the cost of doing business, a better microenvironment for startups’ success, excellent quality of life and safety, likewise every bit a diverse and skilled labor strength. In addition, people here are extremely hospitable. Y’all will fit in no fourth dimension and why some of the hottest startups are popping upwardly in Austin.
Startups: Diligent Robotics, Threatcare, StoryFit
Accelerators: SKU, TechRanch Austin, Austin Technology Incubator
two. London, United Kingdom
London isn’t just famous for its imperial family, they have a booming startup scene too. They are excelling in the technology sector and are considered the globe’s leading fiscal centre, as they are Europe’s technology capital.
What makes London stand up out is its access to funding with an average seed circular 150k USD college than the global boilerplate and in 2020 attracted x.5 billion USD in funding.
What also makes London one of the best startup cities is that it offers a startup visa programme to entice entrepreneurial expats into the city, creating a larger talent pool. London also has some of the highest numbers of co-working spaces globally.
This leaves little to the imagination equally to why and so many startups call London domicile.
Startups: Trouva, Talentful, Syft
Accelerators/Incubators: Hatch Enterprise, JLab, SeedCamp
1. San Francisco, U.s.
There is little surprise that San Francisco makes it to the number 1 spot on our list. Yes, the overall toll of living has increased over the past years in the bay area, just there is a reason why the San Francisco metropolitan area has the highest amount of per capita startups on our list of the best startup cities.
With 600 unicorns globally, over 170 out of the San Francisco Bay Area. The abundance of VC capital and top VC firms in the expanse would make anyone looking to ain a startup consider the city as a potential home. Out of 123 billion USD that VC firms invested in 2020, 46 billion of that was invested in the startup ecosystem in the San Francisco area.
Home to some of the biggest fortune 500 companies and offering the highest paid salaries for jobs in tech, in total, makes San Francisco the best city for startups in 2021.
Startups: Rentberry, Apptimize, Anchor
Incubators: Founders Space, Matter, AngelPad
Startup cities, digitization, and innovation
You lot can easily spot a startup city: it’due south a place where innovation and job positions thrive, young entrepreneurs walk around with stars in their eyes, and a rumor about the next unicorn is e’er floating by. The pioneers of this movement are numerous business visionaries. They don’t consider a ix-to-5 in a conventional organisation equally a feasible option. They tend to produce generous incomes for those who take invested time, talent and trust in them. The all-time cities for startups allow them to realize these visions.
In a digital world, geographic limits tin can’t hogtie entrepreneurs any longer. Today, new businesses in Australia tin can look for associates from Europe, America, Asia or Africa. Today, the fiscal opportunities presented to startups are limitless. Going global is no longer a matter or
– rather, information technology’s a matter of
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