2023 Global Best Startup Ecosystem Regions: Silicon Valley Takes the Top Spot

Startup Genome, a consulting firm, has evaluated several regions or cities with the world's best startup ecosystems in its *Global Startup Ecosystem Report 2023*.

Silicon Valley, the southern region of the San Francisco Bay Area, California, USA, ranked first. This US innovation hub achieved a near-perfect score.

Using a 1-10 point scale, Silicon Valley received a performance score of 10 points, funding 10 points, connectivity 10 points, market reach 10 points, knowledge 9 points, and capabilities and experience 10 points.

New York City took second place. Of the six categories evaluated, five received perfect scores. Only the knowledge category received a score of 6 points.

London shared the same ranking as New York City. Of the 6 categories, 4 received a score of 10 points. The remaining categories, performance received a score of 9 points and knowledge a score of 6 points.

"The top three ecosystems have maintained their positions since 2020, with Silicon Valley remaining at the top, followed by New York City and London in second place," wrote the Startup Genome team in their report.

Singapore entered the ranking for the first time and is the sole ASEAN representative. Ranked 8th, Singapore climbed 10 places from its 18th-place ranking last year.

Singapore achieved a performance score of 7 points, funding 9 points, connectivity 9 points, market reach 9 points, knowledge 1 point, and capabilities and talent 7 points.

Just below Singapore, the Asian representative, Shanghai, achieved a performance score of 9 points, funding 3 points, connectivity 1 point, market reach 6 points, knowledge 10 points, and talent and experience 9 points.

This ranking identifies the top 30 global ecosystems and 10 runners-up. The research team describes these ecosystems as more mature than others globally, with higher exit values (above US$50 million) and greater funding activity.