The StartupBlink Global Startup Ecosystem Index identifies the best places to start a business and identifies where flourishing entrepreneurial communities already exist to assist and guide entrepreneurs. The StartupBlink Global Startup Ecosystem Index ranks startup ecosystems in 1000 cities and 100 nations worldwide, giving each country and city a ranking.
IAS aspirants can also refer to the Global Indices & India’s Ranking in the same for the year 2022 at the linked article.
Reports and Indexes like the Global Startup Ecosystem are important from the UPSC exam perspective. Candidates must go through the Startup index and its key findings discussed in the article further below.
Kickstart your UPSC 2022 preparation now and complement it with the links given below:
Significance of the Index
Instead of showcasing a few globally renowned champions, the goal of this index is to spotlight and evaluate hundreds of startup centers. This index includes businesses and workspaces, accelerators, funders, leaders, and other key participants in the startup ecosystem. The Startup Ecosystem Analysis is a breakdown of the most critical startup ecosystems by StartupBlink. Many cities in each region have yet to publish a report and accept submissions for all those who desire to do so.
Criteria for the calculation of Global Startup Ecosystem Index
Each location in the study is assigned a score based on three factors: quantity, quality, and business environment. The quantity parameter includes components such as the number of startups, start-up-related meet-ups, co-working spaces, accelerators, and so on. On the other hand, the quality parameter considers characteristics such as the number of staff per startup, unicorns, exits, pantheon firms, global startup events, and the prevalence of global startup leaders, among others. Finally, the business score considers the ease of forming businesses and conducting business, broadband speeds and freedom, English proficiency, R&D investment, patents per capita, and the availability of other technical support such as transaction portals and ride-sharing apps.
Candidates can also refer to the following links in line with the UPSC Syllabus and prepare for the upcoming civil services exam:
About Startup Blink
- Any business that implements an innovative solution,” according to Startup Blink.
- As a startup, it validates a sustainable economic model,” and the idea could be a business strategy, a product, a service, or a process.
- Each location in the study is assigned a score based on the sum of three factors: quantity, quality, and business environment.
- The quantity parameter includes components such as the number of startups, start-up-related meet-ups, co-working spaces, accelerators, and so on.
- The quality indicator, on the other side, considers various factors.
- These include, among other things, the number of staff per startup, the existence of unicorns, exits, and pantheon firms, global startup events, and the existence of global startup influencers.
- The company score assesses various factors.
- The elements include the ease of forming firms and conducting business, broadband speeds and freedom, English proficiency, R&D investment, patents per capita, and the availability of different technical support such as payments gateways, ride-sharing apps, cryptocurrency, and so on.
India’s Current Rank
This year, India has risen three ranks in the worldwide startup list, a probable silver lining among the upheaval caused by the pandemic. India is placed 20th among the top 100 countries in Startup Blink’s Global Startup Ecosystem Index 2021. In 2019, the country was ranked 17th, but by 2020, it had dropped six places to number 23. With this increase, India’s startup ecosystem has re-entered the top 20 countries in the world. The United States, the United Kingdom, Israel, Canada, and Germany are all in the top five rankings this year, as they were last year.
How India can improve its status?
- According to the report, India’s startup ecosystem will benefit from improvements in infrastructure and Internet speed.
- It also claimed that instead of focusing solely on local markets, startups should focus on developing creative solutions that are transferable globally.
- India now features 43 cities in the top 1000 cities in the world, with Bengaluru, New Delhi, and Mumbai among the top 20. Just one additional country has managed to place three of its own cities in the top 20 worldwide: the United States. Only two Chinese cities, Beijing and Shanghai, are among the top 20. China is known for its thriving startup scene.
- There are nine new additions this year, including Vijayawada, Raipur, Patna, Varanasi, Jamshedpur, Aurangabad, Udupi, and Agra, among the 43 Indian cities listed in the top 1,000 worldwide.
Aspirants can visit the linked article and get details about the upcoming government exams that comprise current affairs and general awareness as an important topic in the syllabus.
For the best preparation strategy for competitive exams candidates can visit the linked article and get detailed study material and preparation tips to excel in the examination.
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Frequently Asked Questions on Global Startup Ecosystem Index
What is India’s rank according to Global Startup Ecosystem Index?
India ranked 20th in the Global Startup Ecosystem Index 2021.
How can India improve its rank?
India will benefit from improvements in infrastructure and Internet speed.
How does Startup Blink define “startup”?
As a startup, any company that uses an innovative solution to prove a scalable economic model, and the invention could be a business strategy, a product, a service, or a process.
The StartupBlink Global Startup Ecosystem Index ranks how many startup ecosystems throughout the world?
The startup ecosystem index evaluates 1000 cities and 100 nations.