India’s Silicon Valley, Bengaluru has slipped down 5 positions from 15th to 20th in the global startup ecosystem ranking by Startup Genome (American Research Firm). For the year 2015, Bengaluru was placed at the 15th spot when it came to the cities that accelerated and nurtured startups.
‘Our research was carried out in 25 countries. We took funding, talent, market reach, performance, and overall experiences as parameters for the ranking. The performance is based on valuations, exits, growth-stage and early-stage successes said an official from Genome.
In context to Bengaluru, and startup ecosystem in India, Startup Genome said, ‘Bengaluru-based startups have strong ties with ecosystems in other countries. Though the engineers in Bengaluru are the most cost-efficient, the city has challenges like quality and access to talent.
The startups struggle to woo international investors. Though the future is bright in Bengaluru, the Indian-startup ecosystem lags the ‘exit route’, making many international investors cautious’.
The list is topped by Silicon Valley, only to be followed by New York City and London. Bengaluru is the only Indian city that is listed in the ‘Top 20’, with 7 US Cities.