Pitchbook's rankings spotlight the premier cities worldwide for startups, where vibrant ecosystems and ample funding opportunities fuel entrepreneurial dreams.
Whenever we talk about a startup in a city, it is important that the city should have a decent number of venture capitalists, community of founders, and tech workforce. For the rankings, each city was analyzed from the maturity of their start-up in a six-year time which ended in Q2 of 2023. So, according to these rankings, San Francisco is the top city in the world with $427.6 billion capital which was raised in the last six-years. It has a development score of 89.5.
The second best startup city in the world is New York, Followed by Beijing. Both cities have a development score of 76. New York raised $179.9 billion capital in the six years while Beijing raised $161.2 billion in capital. New York is a home to many popular companies like SkillShare and Hugging Face which are well-known examples for a startup. Beijing, which is a city in China, is home to ByteDance which is a parent company to TikTok. This company is one of the most valuable companies in the world right now. Another city from China, Shanghai, is also in the top five best startup cities in the world. Most of the startups in China are fully funded by the government and are based on hard tech.
Other startup cities in the top ten list of best startup cities in the world include Los Angeles, Boston, London, Shenzhen, Seoul and Tokyo. It is seen that most countries in the top twenty are from China and the USA. Singapore is also set to becoming a tech startup hub for many companies. It is the fourteenth best city for a startup in the world with a development score of 52. A good $45.7 billion capital was raised in Singapore in just six years and it has an impressive venture funding of $1060 per person.
Source: The world’s top startup cities / pitchbook - April 18, 2024
Read next: Reputation Matters: How Hardware Giants Outshine Social Media Platforms
Whenever we talk about a startup in a city, it is important that the city should have a decent number of venture capitalists, community of founders, and tech workforce. For the rankings, each city was analyzed from the maturity of their start-up in a six-year time which ended in Q2 of 2023. So, according to these rankings, San Francisco is the top city in the world with $427.6 billion capital which was raised in the last six-years. It has a development score of 89.5.
The second best startup city in the world is New York, Followed by Beijing. Both cities have a development score of 76. New York raised $179.9 billion capital in the six years while Beijing raised $161.2 billion in capital. New York is a home to many popular companies like SkillShare and Hugging Face which are well-known examples for a startup. Beijing, which is a city in China, is home to ByteDance which is a parent company to TikTok. This company is one of the most valuable companies in the world right now. Another city from China, Shanghai, is also in the top five best startup cities in the world. Most of the startups in China are fully funded by the government and are based on hard tech.
Other startup cities in the top ten list of best startup cities in the world include Los Angeles, Boston, London, Shenzhen, Seoul and Tokyo. It is seen that most countries in the top twenty are from China and the USA. Singapore is also set to becoming a tech startup hub for many companies. It is the fourteenth best city for a startup in the world with a development score of 52. A good $45.7 billion capital was raised in Singapore in just six years and it has an impressive venture funding of $1060 per person.
| City | Development score | Capital raised (in billion) | Growth score | Deal count | Exit value (in billion) |
|---|---|---|---|---|---|
| San Francisco | 89.5 | $427.6B | 28.2 | 19,898 | $766.3B |
| New York | 76 | $179.9B | 41.5 | 13,594 | $171.7B |
| Beijing | 75.6 | $161.2B | 15.4 | 8,835 | $279.2B |
| Shanghai | 72.9 | $130.3B | 26.5 | 7,422 | $186.8B |
| Los Angeles | 71.40 | $144.6B | 39.9 | 9,781 | $181.4B |
| Boston | 70.40 | $117.0B | 34.8 | 6,044 | $172.8B |
| London | 64.00 | $99.0B | 38.8 | 11,533 | $71.9B |
| Shenzhen | 62.70 | $46.4B | 45.3 | 5,020 | $66.3B |
| Seoul | 61.1 | $31.1B | 52.1 | 6,196 | $71.0B |
| Tokyo | 60.20 | $26.2B | 66.6 | 5,590 | $28.0B |
| Hangzhou | 59.10 | $50.7B | 20.5 | 3,361 | $88.7B |
| Washington D.C. | 54.70 | $43.7B | 61.7 | 2,706 | $28.2B |
| Seattle | 53.5 | $31.7B | 26.3 | 2,693 | $35.6B |
| Singapore | 52.20 | $45.7B | 74.8 | 4,507 | $38.0B |
| San Diego | 52.00 | $33.5B | 35.5 | 2,023 | $44.7B |
| Austin | 51.80 | $26.4B | 46.6 | 2,636 | $22.9B |
| Guangzhou | 51.70 | $24.7B | 50.9 | 1,700 | $24.0B |
| Tel Aviv | 51.00 | $21.0B | 39.7 | 1,936 | $32.2B |
| Denver | 50.60 | $26.8B | 51.1 | 2,489 | $29.9B |
| Berlin | 50.40 | $31.2B | 27.9 | 2,469 | $15.9B |
| Suzhou | $49.7 | $15.1B | 49 | 2,207 | $29.2B |
| Paris | 49.50 | $32.8B | 64.4 | 3,677 | $6.6B |
| São Paulo | 48.6 | $17.0B | 46 | 1,685 | $43.9B |
| Chicago | 47.2 | $28.8B | 31.5 | 2,377 | $11.6B |
| Salt Lake City | 46.9 | $13.1B | 18.2 | 1,172 | $24.3B |
| Hong Kong | 46.6 | $19.6B | 27.8 | 982 | $30.9B |
| Stockholm | 44.8 | $28.7B | 26.1 | 1,775 | $27.5B |
| Toronto | 44.3 | $15.2B | 42.8 | 2,024 | $7.1B |
| Philadelphia | 43.1 | $25.8B | 53.2 | 3,014 | $12.9B |
| Miami | 42.6 | $21.7B | 50.3 | 2,216 | $9.4B |
| Nanjing | 42.4 | $16.3B | 58.7 | 1,419 | $15.6B |
| Mumbai | 42.2 | $15.7B | 45.1 | 1,767 | $10.9B |
| Chengdu | 41.8 | $8.3B | 59.7 | 1,259 | $8.1B |
| Bengaluru | 41.1 | $32.2B | 42.7 | 1,668 | $17.6B |
| Amsterdam | 40.7 | $11.3B | 68.7 | 1,176 | $10.6B |
| Dallas | 40.4 | $10.8B | 25.4 | 1,346 | $12.0B |
| Atlanta | 39 | $13.1B | 35.4 | 1,550 | $6.6B |
| Vancouver | 38.3 | $6.7B | 10.4 | 1,010 | $10.0B |
| Changsha | 37.9 | $8.8B | 43.3 | 443 | $10.2B |
| Munich | 37.6 | $11.3B | 48 | 986 | $3.9B |
| Wuxi | 37.5 | $4.6B | 71.8 | 513 | $7.9B |
| Raleigh | 36.6 | $15.0B | 45.6 | 1,075 | $7.3B |
| Sydney | 36.3 | $7.8B | 35.4 | 1,141 | $5.1B |
| Hefei | 36.1 | $9.3B | 86.5 | 735 | $11.1B |
| Phoenix | 36 | $9.8B | 50.1 | 850 | $11.9B |
| Minneapolis | 36 | $11.6B | 44.8 | 987 | $16.1B |
| Montreal | 35.9 | $7.3B | 37.6 | 768 | $3.0B |
| Gurugram | 34.9 | $13.3B | 29 | 826 | $17.0B |
| Portland, OR | 34.6 | $6.1B | 36.1 | 903 | $10.6B |
| Houston | 34.1 | $9.4B | 63.8 | 1,044 | $5.1B |
Source: The world’s top startup cities / pitchbook - April 18, 2024
Read next: Reputation Matters: How Hardware Giants Outshine Social Media Platforms
