The startup culture has grown substantially over the years and has contributed greatly in the economic growth of the coutry as well.
Research shows that many factors go in to determine for a startup to thrive in a country. Foreign relations, Tax incenives and Government fundings are some of the factors that a country can facilitatte in order to ensure a healthy enviroment for startups to grow.
Keeping other factors in mind, these are the top 8 countries that ensure healthy enviroment for budding entrepreneurs.
1. Germany
In 2019, Germany was ranked number one in Europe for startups by NimbleFins. EY reported that Germany’s top 100 startups received a total of $11.1 billion in funding in 2019, a significant increase from the $6.3 billion reached in 2018.
2. Japan
The government of Japan has laid out a 7 step strategy titled “Beyond Limits, Unlock Our Potential” to strengthen the country’s startup ecosystem. It includes the creation of a startup city, providing entrepreneurship education, improved accelerator programs, state procurement, and funding for startups.
3. The USA
Among the top 10 global startup ecosystems in the world, the US has the most states on the list. Silicon Valley maintains the no. 1 position with New York second in the list.
4. United Kingdom
London has one of the world’s most favorable ecosystems to build a globally successful startup according to the latest data from Startup Genome’s The Global Startup Ecosystem Report 2020. The UK capital improved on its joint third place in 2019, to tie in second place with New York this year.
5. Canada
In the June 2020 report by StartupBlink, Canada ranked fourth startup ecosystem globally as Toronto, Vancouver dropped for the second year.
In its rankings report, StartupBlink said the main issue separating Canada from the top three countries is Canada’s ability to create unicorns and “highly popular” startups. Notably, an EdTech startup, ApplyBoard, recently reached unicorn status after raising $100 million and claiming a $2 billion valuation.
6. Switzerland
According to an assessment, a startup company in Switzerland has more positive than negative implications. The ecosystem gives startups an entry to a stable market with direct access to European markets giving it a wider scope.
7. Sweden
As per experts, Stockholm, the capital of Sweden, has a mature value-driven, and true international startup ecosystem built on Swedish innovation excellence, equality values, and pay-it-forward culture.
8. Australia
Crossroads 2020 details the rise of Australia’s most successful startups, the progress of the ecosystem in terms of capital, culture, and talent, the political headwinds facing global technology, and the importance of supporting startups for the future of Australia’s economic prosperity.
