Which city is the best to open a startup: rating - ForumDaily
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Which city is the best to open a startup: ranking

Experts have identified the best cities in the world for startups. Visual Capitalist talks about the global ranking of startup ecosystems.

Close up of a man in blue drawing a start up sketch on a glassboard. Concept of planning and business development.

Photo: iStock.com/ismagilov

A network of founders, venture capital firms and technical talent are some of the key components driving the ecosystem startups.

These technology clusters are developing on a global scale.

On the subject: Top 7 Good Ideas That Didn't Work: Why Startups Fail

While the world's leading cities areStartups concentrated in the Americas, some ecosystems, such as Beijing and Seoul, are becoming increasingly important. These countries focus on technological progress to stimulate innovation.

Global ranking of startup ecosystems

For determining rating each city was analyzed based on the size and maturity of its startup ecosystem over a six-year period ending in the second quarter of 2023.

Here are the top 10 best cities in the world for a startup:

Photo: Screenshot Visual Capitalist

San Francisco dominates this ranking: over six years, capital has attracted $427,6 billion.

Despite the difficult funding situation, nearly 20 deals were closed, highlighting the company's enormous role in launching technology startups. Both OpenAI and rival Anthropic are headquartered in the city, thanks to a deep pool of tech talent and venture capital firms. In 000, 2023 startups were based in the San Francisco Bay Area, representing about 11% of all commercial startups testing business ideas in America.

Next in line - New York. The city raised $179,9 billion over the same period. Cryptocurrency firm Gemini and machine learning company Hugging Face are two examples of startups based in the city.

As a leading center outside of America, Peking — base for TikTok company, ByteDance. It is one of the most valuable private companies in the world.

In recent years, most startup funding in China has come from government funds. In particular, these funds focus heavily on "hard technologies" such as semiconductor manufacturers and electric vehicle companies. This is in line with the government's strategic long-term goals.

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Another leading technology center, Singapore, has the highest level of venture funding per capita in the world.

In 2023, that figure equated to an impressive $1060 in venture capital funding per person. By comparison, in the US, venture capital funding was $345 per person. This is the second highest figure in the world.

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