20 Top Cities In The World For Tech Startups
The world is moving at a fast pace in the development of tech. Over the years, several underrated cities all around the world had hasten their pace, hence overtaking some major tech cities ahead of them. A typical example of these cities are Toronto-Waterloo, and Seoul which had both propelled in recent times from number 18 to 14 and number 20 to 16 respectively. The World Health Organization predicts that in less than 35 years, several underrated cities all around the world would join the race in tech startups and two-thirds of the world population would dwell in urban communities, hence building a world wired with technologies.
Are you a tech founder, developer, or co-founder looking for the best cities to erect your startup(s)? Or perhaps, you are just an inquisitive learner who wants to have at least an iota of knowledge about everything that goes on in the world? If you fall into any of these strata, then you are reading the right piece! This video tends to lists the top 20 cities all around the world for a tech startup. Whilst ranking from lowest to top, this piece will address all cities concisely, with the attachment of factual ranking rubrics that made each city rank in their respective positions.
According to the Global Startup Ecosystem Report, the following cities emerge as the top 20 runners-up.
20 Top Cities In The World For Tech Startups
20. Austin
No doubt, Austin is basically a hub of tech startups. With its tech-savvy workforce staggering over 100,000 from a minimum population of 1.8 million, Austin had built herself a reputation worthy of emulation for other tech-aspiring cities. Additionally, ivy league business companies, like Dell and IBM, are major factors that had widened the tech horizon in this city. Hence Austin ranks #20 with the below-ranking rubrics. It is the 20th city in the world for Tech Startups
Ranking Metrics & Rubrics
Performance: 4
Funding: 5
Connectedness: 7
Market Reach: 5
Talent: 6
19. Shenzen
Known to be the central hub of China’s manufacturing industry, Shenzen has become one of the most highly innovative and tech-creative cities, with its communities stacked with creative and mindblowing entrepreneurs. Sequel to its creativity, the city is gaining vast recognition in the global space of science and technology.
Ranking Metrics & Rubrics
Performance: 8
Funding: 5
Connectedness: 1
Market Reach: 1
Talent: 7
18. Singapore
Recognized as Southeastern Asia’s trillion-dollar climate-tech and digital commerce home of opportunities, Singapore maps up top tech talents, wealthy investors, and regional digital experts into its ecosystem. See below its ranking rubrics for emerging our 18th position.
Ranking Metrics & Rubrics
Performance: 4
Funding: 8
Connectedness: 6 –
Market Reach: 6
Talent:5
17. Stockholm
What makes Stockholm special is its phenomenal human capital strength enshrined in the spirit of its ever-increasing entrepreneurs. As a matter of fact, the city’s greatest weapon and secrets are its growing pace of its resourceful, young and upcoming techy individuals who have the momentum of pushing the city to compete with top techy cities in the world.
Ranking Metrics & Rubrics
Performance: 7
Funding: 6
Connectedness: 5
Market Reach: 7
Talent: 6
16. Seoul
Government intervention in Seoul had been a major part of the city’s tech history. For instance, in February 2022, an investment promotion agency was launched by the Seoul Metropolitan Government to allow sophisticated investors to settle in Seoul. This action, and other several innovative milestones hence a great feat for the city.
Ranking Metrics & Rubrics
Performance: 6
Funding: 5
Connectedness: 9
Market Reach: 5
Talent: 5
15. Chicago
An epicentre for corporate titans like State Farm and Walgreens, Chicago’s tech innovations and creativity are no doubt worthy of emulation by other aspiring tech cities. 2021 witnessed Chicago-based startups amounting to a tune of $1 million in estimation, hence becoming a pacesetter in the unicorn industry.
Ranking Metrics & Rubrics
Performance: 5
Funding: 6
Connectedness: 6
Market Reach: 6
Talent: 7
14. Toronto-Waterloo
Quite amazing how the city had propelled from the 18th position to the 14th. Toronto has been a hub of tech since its inception. Although, the city had been less responsive in the tech space in aforetime due to government regulations and inadequate access to funding. Nonetheless, in recent times, the city had taken everyone aback by its massive turnaround and improvement. Check the ranking rubrics for an analysis of why we rank the city fourteen.
Ranking Metrics & Rubrics
Performance: 5
Funding: 8
Connectedness: 7
Market Reach: 3
Talent: 6
13. Amsterdam-Delta
For a city like Amsterdam-Delta which had not only sprouted out its tech shrewdness by encamping a major multinational network of startup savvy companies like Startupbootcamp and other tech iconic companies like Uber into its space, but had also made its tech startup intelligence to continue to invite more investors and tourists.
Ranking Metrics & Rubrics
Performance: 6
Funding: 6
Connectedness: 9
Market Reach: 7
Talent: 7
12. Paris
Sustaining majorly with the help of loans and public grants, the most beautiful city in the world, Paris, had maintained its 12th position over the years, and by extension, has been propelled to emerge as the largest startup ecosystem in Europe, overtaking London and Berlin with the tune of 12,000 startups. See below its ranking rubrics.
Ranking Metrics & Rubrics
Performance: 6
Funding: 8
Connectedness: 9
Market Reach: 6
Talent: 8
11. Washinton DC
Albeit the city is famously known for its political activities, nonetheless, the Washinton DC startup ecosystem has leveraged its proximity to Federal Government departments and Fortune 1000 companies’ apex branches scattered across the city to build a renowned and resourceful ecosystem for itself.
Ranking Metrics & Rubrics
Performance: 7
Funding: 7
Connectedness: 6
Market Reach: 8
Talent: 8
10. Seattle
Amazon and Microsoft’s home base and territory, Seattle has become a befitting hub of a tech startup, and by extension, feeding other cities across the world, in and outside the United State with huge investment birthed from its tech and innovative activities. See ranking metrics below why we rank it our 10th top tech city.
Ranking Metrics & Rubrics
Performance: 9
Funding: 7
Connectedness: 7
Market Reach: 8
Talent: 8
9. Tokyo
The government’s intervention alongside the Ministry of Economy, Cabinet Office, and the boom of digital technology in 2014 orchestrated Tokyo’s acceleration in tech startups. Additionally, policy changes have also contributed greatly to Tokyo’s ecosystem boom.
Ranking Metrics & Rubrics
Performance: 8
Funding: 9
Connectedness: 1
Market Reach: 8
Talent: 9
8. Shanghai
Ranked as the 2022 #1 Smart City by Juniper Research, Shanghai city is not only notable for its mythical and historical culture, but also for its tech-savvy and creative individuals. No doubt Shanghai is leveraging on its strengths which include a good transportation system, energy, infrastructural facilities, urban connectivity, city management, and technology to broaden the horizon of its startup ecosystem.
Ranking Metrics & Rubrics
Performance: 10
Funding: 7
Connectedness: 1
Market Reach: 9
Talent: 9
7. Tel Aviv
Recognized as the heart of Isreal, the world’s most flourishing nation with the highest per capita in tech startups more than any other country in the world, Tel Aviv is the commercial epicentre for tech and digital innovations. However, the major factors contributing to this astounding growth include but are not limited to (1) an educated population (2) strong government involvement, and (3) phenomenal R&D capacity. Please review the city’s scorecard below.
Ranking Metrics & Rubrics
Performance: 8
Funding: 9
Connectedness: 8
Market Reach: 10
Talent: 8
6.Los Angeles
Breaking forth out of its shell against all odds, Los Angeles has not only become a startup magnate to reckon with in the United States but in its endeavour has also gained solid ground in the global startup ecosystem. Hence, not only are movies and entertainment the pride activities of the city but also, tech and innovation contribute greatly in this regard, however, this might perhaps be majorly influenced by its proximity to Silicon Valley, the motherland of all tech cities.
Ranking Metrics & Rubrics
Performance: 9
Funding: 9
Connectedness: 9
Market Reach: 9
Talent: 10
5. Boston
Being a startup powerhouse and hub for Robotics and Life Science, including the ivy lead universities like Harvard, Boston has maintained a consistent place in the GSER ranking of top five global leaders. This great feat is however characterized by adequate funding from both government and private individuals, investment, education, et cetera.
Ranking Metrics & Rubrics
Performance: 9
Funding: 9
Connectedness: 9
Market Reach: 9
Talent: 10
4. Beijing
With great advancement in such areas as Robotics, self-driving vehicles, telemedicine, 5G, and AI, Beijing has remained a behemoth in technology and startup, hence making its ecosystem attract more investors and entrepreneurs.
Ranking Metrics & Rubrics
Performance: 10
Funding: 9
Connectedness: 5
Market Reach: 9
Talent: 9
3. London
Majorly, the ecosystem boom in this city is characterized by the influx of business titans in the field of the digital industry, accrued capital from Silicon Valley, education, and government, amongst others. As of now, London is recognized #1 in Europe Startup Capital, and 4th in the VC global investment ranking.
Ranking Metrics & Rubrics
Performance: 9
Funding: 10
Connectedness: 10
Market Reach: 10
Talent:10
2. New York City
The 2nd largest tech hub in entire America, New York has raised the bar by estimating a whopping $ 1.6 billion from New York-based VC firms, and another astounding $55 billion from venture-backed startups.
Ranking Metrics & Rubrics
Performance: 10
Funding: 10
Connectedness: 10
Market Reach: 10
Talent: 10
- Silicon Valley
The world’s motherland and headquarters of the startup ecosystem. Silicon Valley had never run out of fresh and mindblowing intellects, all thanks to Stanford and other ivy league universities located in this area. Silicon Valley avails the world with several tech opportunities and startup events like TECHSPO Silicon Valley, the founder summit 2022, the Pal Alto founders meetup, the women of city valley conference, et cetera.It is the best city in the world for Tech Startups
Ranking Metrics & Rubrics
Performance: 10
Funding: 10
Connectedness: 10
Market Reach: 10
Talent: 10
Conclusion
All being said, we hope that you are able to get all the goodies we promised in the introductory part of this video. However, it is quite imperative to note that, the aim of the above ranking does not in any way tend to downgrade any cities as all the cities listed here all have their strengths and weaknesses. However, the sole aim is to give you a glimpse of the ranking model.
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