New Delhi: In Startup Genome’s The Global Startup Ecosystems Report (GSER) 2023, Bengaluru climbed 2 spots coming to 20th place. In the report, New York City and London were spotted at No 2.

The Global Startup Ecosystem Report 2023 is an extensive analysis stating the current state of startup ecosystems around the world, in the emerging ecosystems, Pune lay in the 31-40 range in 2023, earlier it lay in the 51-60 range in 2022.

The report is in its 11th year, giving a detailed look into the world’s top startup ecosystems, at the same time tracking ongoing trends and challenges faced by entrepreneurs.

As India’s digital infrastructure becomes more efficient, many Indian cities enhance their rankings.

Meanwhile, for generating 2023 rankings, Startup Genome evaluates six factors in each of the ecosystems, which are performance, funding, market reach, connectedness, talent and experience with knowledge. The report presents rankings that identify the top 30 global ecosystems and ten runner-ups.

Ecosystems mentioned in the report are valued at more than $50 million in funding activity.

“The Covid-led growth in tech impacted countries to very different degrees and this is reflected in movements in the global rankings,” inked JF Gauthier, founder and CEO of the startup Genome in the 2023 edition report.

“India is up due to its world-leading growth in 2021 and 2022 and this trajectory may well continue. China, however, grew at a significantly slower pace,” Gauthier said.

Adding further, Gauthier explained that Silicon’s Venture capitalists (VC) and their limited partners (LP) ceased investing. Meanwhile, Gauthier said, “The dramatic shutdown and nail-biting rescue of Silicon Valley Bank in March only underlined the level of the turmoi l in the sector.”