Wednesday, October 4, 2023

Find out which are the best countries for startups and where Colombia ranks

Startups gain strength in the world and in Colombia. This is seen in the latest installment of the Global Startup Ecosystem Index 2023 In which the country managed to climb four places out of 40 in the ranking of 100 countries with the best ecosystems for entrepreneurship.

The report prepared by StartupBlink evaluates the quantity and quality of ventures and the business environment (with investments earmarked for the purpose). Top 100 from each of 1,000 countries and 1,000 cities to be submitted.

The first place in terms of nations was taken by the United States, a position the country has held for four years in a row. And managed to get more than 100 cities a place in the ranking. another appears United Kingdom, which is maintained and the top three are closed Israel.

“Countries understand that a large startup ecosystem is an engine of economic growth and the government should play an active role. In supporting the development of their new companies. Those who ignore this responsibility and fail to budget for infrastructure to grow the ecosystem are paying a heavy price in brain drain,” says Eli David, CEO of Startupblink.

Canada is in fourth place, Which according to the study is a difference of more than 25% compared to the countries that follow it in the ranking and Sweden in fifth place, which managed to go undefeated Germany, thanks to its position in the development of startups in the European region.

This position caused a big commotion in terms of position. For example, Singapore was ranked sixth, climbing up 10 places. Germany was ranked seventh after slipping in the rankings, followed by France, Australia and the Netherlands.

The greatest resource, says David, and the one that has supported leading nations, is innovation that “doesn’t happen by chance,” But thanks to the advances of the government. “Not everyone can be in the best ecosystem,” he said.

Among the findings of the study is that the industry where startups focus the most is software and data, representing more than 31.95% of the world total. In addition, a large number of new companies are in the healthtech industry (12.83%) and fintech with a 10.43% share in the world.

for a country’s economy The status of startups generates a positive environment from the point of view of innovation and in the development of the labor market”, commented Roberto Leon, CEO and co-founder of Healthatom.

cities in the top 10

The position of eight out of 10 cities included in the ranking this year remains the same as last year. First on the list is San Francisco, followed by New York, which has held this position since 2017 and London, which closes the top three.

“It is clear that the tides of the global startup ecosystem have turned. Unsurprisingly, valuations plummeted as high interest rates ended the era of cheap money. and forcing new companies to focus on what really matters: profitability and sustainable business models”, said David.

further down the list Los Angeles, Boston and Beijing, which achieved largely similar scores, With which the report highlights that there is “quite interesting competition” that has persisted in recent years.

Shanghai, the second-ranked Chinese ecosystem, ranked seventh, followed by Bangalore, Paris and Tel Aviv, which round out the top 10.

The report reminded that ecosystems with massive populations and markets can scale very large startups without having to compete internationally. Examples he provided are the ecosystems of countries such as China, India, Indonesia, Brazil, and Russia.

“Although they rank high in their total production, these places are mainly innovating locally and supplying their large scale domestic markets,” he says.

How’s Colombia doing?

Despite the fact that Colombia is not in the top 10, its launch is growing and five cities support it. First appears the case of Bogotá, which managed to climb five places from 70 to 65 globally, then Medellin, who jumped 35 spots, reached the 168th spot in this instalment. Cali was ranked 282, Barranquilla 411 and Cartagena 871.

With regard to Latin America, Bogotá has moved up two places this year from fifth to third in the region, behind São Paulo and Mexico City.

Eli David, who directed the distribution, emphasized in his analysis of the report that The city “is becoming a central regional center with the best pace among the main cities of Latin America., This year, in addition, it climbed over Buenos Aires and Santiago de Chile.

Esteban Vasquez, category manager at Colombian startup Habi, explained for his part “At a time when new technologies play a vital role in the development of any economySometimes startups are high-growth companies”.

Nation World News Desk
Nation World News Desk
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