The startup ecosystem has started evolving around the world, with a large number of startups starting their journey every week and many raising funding rounds, a lot of action is expected in the coming time. By now when we use to talk about the hub of startups, one place that comes to the mind is/was Silicon Valley, which is the home to many of the world’s largest technology corporations, as well as thousands of tech startup companies. But now with the emergence of startups around the world many cities have come in light that hold the potential to be the next Sillicon Valley.
CB Insights has come out with a report which showcases the cities which can be the next Silicon Valley, and the most interesting thing is that about 7 Asian cities have managed to be part of the rankings.
The list has been made after looking into the cities globally to see which have seen the most growth in deals and dollars over the past two years. It looked into the growth in tech deals from November 2012 to October 2013 versus November 2013 to October 2014. Only the cities with at least 20 deals or more in each time period were considered.
Asian cities dominated the top 3 positions, with Beijing (165% deal growth), Tokyo (126%), and Shanghai (81%) topping the list. Surprisingly few of the established cities in tech saw little or negative growth, like New York (6%), Cambridge (-12%), and Los Angeles (6%).
The Indian Scene
4 Indian cities managed to get in the top 25 including Bangalore (4), Mumbai (12), New Delhi (13) and Gurgaon (24). Well, this was expected as India now has emerged as the third largest base for startups in the world with 3,100 of them just after the US, which is home to 41,500 startups, and the UK, which has 4,000 startups.
Startups have attracted about 300 venture capital/private equity deals and 225 angel investment deals worth over $2.3 Bn since 2010 and over 20 mergers & acquisitions worth $1 Bn in the last 3 years.
According to the recent report by Nasscom, the total number of technology product/digital startups is projected to be 11,500 by 2020, employing over 2.5 lakh people from just 65,000-75,000 in 2014.
Have a look into the complete rankings
|The Next Silicon Valley|
|City||Deal Growth||Dollars Growth|
|Salt Lake City||17%||6%|
So what do you think? Where is the next Silicon Valley going to be?