Nigeria is ranked 61 in the latest Global Startup Ecosystem Index by StartupBlink which this week announced the startup ecosystem rankings of 100 countries and 1000 cities in the Global Startup Ecosystem Index 2022.

The US leads in the ranking followed by the UK and rest of Europe and Asia notably China and India. Emerging spots are the Middle East notably the UAE while Africa still struggles below the top 50 mark except for South Africa.

RELATED: DWTC Africa Startup Roadshow – Fostering partnerships for growth and opportunities  

According to the StartupBlink ranking, the top ten best cities for startups are San Francisco Bay, United States with 550.269 points followed by New York, United States with 217.002 points;  London, United Kingdom with 125.637 points; Los Angeles Area, United States with 113.855 points; and Boston Area, United States with 108.050 points.

Others are Beijing, China with 102.695 points, Shanghai, China with 70.617 points, Bangalore, India with 63.282 points, Tel Aviv Area, Israel with 54.890 points and  Paris, France with 52.877 points.  No city in Africa is among the top ten.

On a country-to-country basis, South Africa, “although declining by one spot to 49th, is still the only African country in the global top 50.  Nigeria is ranked 61 while Kenya takes the 62nd  spot.”

Lagos startup ecosystem lifts Nigeria above Kenya

According to the report, “helped by the massive leap of the Lagos startup ecosystem, Nigeria switched places with Kenya to become the second highest African country in the index after increasing 2 spots to 61st globally.”

The Global Startup Ecosystem Index 2022 features the most comprehensive research of the global startup economy of 1000 cities and 100 countries. The research is based on the cooperation with Global Data Partners including CrunchBase, SEMrush, UNAIDS and Meetup, and the support of more than 100 governments, municipalities, and economic development organisations.

ALSO READ:  Lagos dethrones Nairobi as Africa’s startup capital; Ibadan takes Nigeria’s No. 2 spot

The Index contains detailed information on the startup scene of 100 countries and includes insights on their most innovative cities, best performing startup industries, unicorns, and notable organizations that contributed to local innovation.

“Some Startup Ecosystems are now fragmenting. Some aspects of this trend are positive. Emerging regional hubs such as Singapore and Dubai are building

technologies catering to their geographies. People around the world are now using solutions that were customized specifically for their tastes and local preferences, that were built by local entrepreneurs, instead of patronizing a handful of powerful global corporations.

“We believe countries that decide to isolate their startup ecosystems from the world will not thrive in the long term. If currently the cycle is leaning towards increased fragmentation, it will shift at some point, and those who have stayed connected will be in a much better position,” said CEO, StartupBlink, Eli David.

StartupBlink is the world’s most comprehensive startup ecosystem map and research center.

More in News

You may also like