Kerala’s startup ecosystem ranks top in Asia: report
In a recognition to Kerala’s vibrant startup ecosystem, the State has been ranked first in Asia in Affordable Talent in Global Startup Ecosystem Report (GSER).
The State is also ranked the fourth in the GSER global ranking, drawn up jointly by policy advisory and research organization Startup Genome and Global Entrepreneurship Network.
The GSER was released in the backdrop of the ongoing London Tech Week 2022, which brings together global governments and corporate leaders, inspirational startup founders and investors to discuss the power of technology for societies.
In the first GSER published in 2020, Kerala was ranked fifth in Asia and 20 th globally.
Kerala is highlighted in the report on enriching startup and economic growth. The ranking measures the ability to hire and retain tech talent. It cited the Government support and tech talent as reasons for startups to move to Kerala and flourish.
The GSER is the world’s most comprehensive, data-driven research on startups with over three million startups in 280 entrepreneurial innovation ecosystems being analysed.
“Startup Genome is thrilled to see such incredible growth in Kerala’s startup community coming out of the Covid-19 pandemic,” said Marc Penzel, Founder & President of Startup Genome.
“This major global honour recognises the creative steps taken by the Kerala Startup Mission to position the State as a startup power house. This ranking will help the state to build a strong network of startups that will play a key role in the growth of the State”, said KSUM CEO John M Thomas.
During 2019-21, Kerala was able to create a startup ecosystem valued at ₹1,037.05 crore. The Government support and attractive incentives for the early-stage startups helped the ecosystem to flourish in the State, the report said.
The report includes ranking of the leading 140 ecosystems, continental insights, and founder-focused articles from thought-leading experts. Top Asian emerging ecosystems were measured based on talent, experience, long-term trends over the most significant performance factors and the ability to generate and keep talent.
The GSER 2022 Edition provides insights and guidance to public and private leaders on how to foster thriving startup communities.
June 17, 2022