Moscow moved up from 14th position in 2017 to 10th position, Chennai and Hyderabad moved more than 100 positions up in comparison with 2017, while Bengaluru moved from 21st position to 11th position, bypassing cities such as Tokyo, Paris and Hong Kong.
San Francisco has been crowned the world’s best city for startups. The list features more than 1000 cities in 100 countries. At number two on the list is New York, followed by London at number three.
Strong performers in India included New Delhi (14), Mumbai (29), Chennai (74), Hyderabad (75).
There are more than 4,500 startups in Moscow, according to the Moscow Agency of Innovations, which provided statistic, expert and analytical information to the Ranking. “Moscow boasts a developed innovation ecosystem, which is growing rapidly”, says Alexei Parabuchev, CEO of Moscow Agency of Innovations.
“It’s not only about the number of startups”, says Eduard Lysenko, Head of Moscow’s Smart City Department. “Moscow is creating favourable conditions for developing technology at large.”
The rating system evaluates IT data from startups, accelerators and co-working spaces registered on IT platforms and aims to identify the cities with the strongest startup ecosystems. The rating methodology considers the number and quality of startups, infrastructure, business climate and public support for innovation.
Previous Startup Blink Startup Ecosystem Ranking was published in November 2017, the next report will be annual as well in April 2020.
News credit : Indiatimes