In a significant nod to its burgeoning startup scene, Hyderabad has been designated one of Asia’s top destinations for startups, according to the latest “2024 Global Startup Ecosystem Report” by Startup Genome. The report, which evaluated 300 locations across 100 countries, examined key factors such as Performance, Funding, Talent and Experience, Market Reach, and Knowledge.
Leading the pack in Asia is Singapore, securing the seventh position globally. This impressive feat marks a remarkable climb for the Lion City, which had previously ranked 16th, 17th, and 18th in the years 2020, 2021, and 2022, respectively. Silicon Valley maintained its dominant position globally, with New York City and London following closely.
For Hyderabad, securing the 19th spot among Asia’s top 30 startup ecosystems is a testament to its growing stature in the entrepreneurial landscape. Meanwhile, Bengaluru, another Indian tech hub, reaffirmed its prominence by clinching the sixth position on the list, highlighting India’s status as a breeding ground for innovation and entrepreneurship.
The list of top 30 cities for startup ecosystems in Asia paints a vibrant picture of the region’s entrepreneurial dynamism. Alongside stalwarts like Beijing, Seoul, and Tokyo, Hyderabad’s inclusion underscores its emergence as a formidable player in the startup arena.
Hyderabad’s ascent as a startup hub can be attributed to various factors, including a conducive ecosystem, supportive government policies, and a burgeoning talent pool. The city’s vibrant startup community has attracted significant investment, fostering a culture of innovation and collaboration.
With initiatives like T-Hub, an incubator for startups, and the Telangana government’s proactive approach to promoting entrepreneurship, Hyderabad has created an environment conducive to startup success. Additionally, the presence of prestigious institutions like the Indian School of Business (ISB) and International Institute of Information Technology (IIIT) has contributed to the city’s thriving startup ecosystem.
As Hyderabad continues to attract investment and nurture talent, its position as a key player in the global startup landscape is poised to strengthen further. The city’s inclusion among Asia’s top startup ecosystems is not only a testament to its past achievements but also a harbinger of even greater success in the years to come. With innovation at its core and entrepreneurship in its DNA, Hyderabad is well-positioned to shape the future of the startup world.
