The GSER was released on Tuesday in the backdrop of the ongoing London Tech Week 2022, which brings together global governments and corporate leaders, inspirational start-up founders and investors to discuss the power of technology for societies.
What worked for Kerala
The ranking is drawn up jointly by policy advisory and research organization Startup Genome and Global Entrepreneurship Network
In the first GSER published in 2020, Kerala was ranked 5th in Asia and 20th in the world.
In the report, Kerala is highlighted on enriching startup and economic growth. The ranking measures the ability to hire and retain tech talent. It also cited Government support and tech talent as reasons for startups to move to Kerala and flourish.
Kerala is the third largest recipient of enterprise capital. Kerala has been ranked within the prime 30 within the rising group, excellence, expertise and expertise in funding mobilization, it noted.
During 2019-21, Kerala was able to create a startup ecosystem valued at Rs 1037.05 crore. The government support and attractive incentives for the early-stage startups considerably helped the ecosystem to flourish in the state, the report said.
“Startup Genome is thrilled to see such incredible growth in Kerala’s startup community coming out of the COVID-19 pandemic,” said Marc Penzel, Founder & President of Startup Genome.
Kerala Startup Mission
“This major global honour recognises the creative steps taken by the Kerala Startup Mission (KSUM) to position the state as a startup power house. This ranking will help the state to build a strong network of startups that will play a key role in the growth of the state”, said KSUM CEO John M Thomas.
About the ranking
The report includes ranking of the leading 140 ecosystems, continental insights, and founder-focussed articles from thought-leading experts. Top Asian emerging ecosystems were measured on the basis of talent, experience, long-term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem.
While Bengaluru ranked 22nd in the global startup ecosystem index due to major improvements in its market reach and access to funding, Delhi moved up an impressive 11 places coming in at No. 26, with Mumbai at No. 36.
“It's fantastic to see startup growth across the whole of India as this creates lots of opportunities for collaboration with London,” said Hemin Bharucha, Director of India for London and Partners.