Hyderabad has stolen the spotlight with respect to startup ecosystem. It has earned 19th place among the top startup ecosystems in Asia covering 300 cities across 100 countries. The milestone was revealed by the ‘2024 Global Startup Ecosystem Report’ from Startup Genome.
Five more Indian cities are featured in the top list and these are Delhi, Bengaluru, Mumbai, Chennai and Pune. The achievement highlights the rapid growth of startup landscape in the country. Bengaluru and Delhi have secured sixth and seventh positions respectively. Mumbai is at the 10th place while Pune at 26th.
The assessment was based on five critical criteria and these were performance, funding, talent and experience, market reach, and knowledge. The five factors together painted a comprehensive picture of the ability of a city to support as well as sustain startup growth.
The journey of Hyderabad in the segment started from 200 startups in 2014. Today, it has more than 7,500 startups. It is a testament to its robust entrepreneurial environment. T-Hub has played an important role in providing startups with essential resources. The innovative hub provided access to investors, mentorship and a supportive network too.
T-Hub CEO Mahankali Srinivas Rao said that the transformation in Hyderabad showcases a focus on fostering an ecosystem for entrepreneurs.
Singapore is the number one in the Asian list. It has been ranked seventh globally. It is just behind global giants like Silicon Valley. New York and London share the second spot globally.
The rise of Hyderabad in the segment is an indication that any city can become a thriving hub for innovation with the help of right support and infrastructure. With six cities ranking in good positions it is evident that India may soon become a global leader in the startup ecosystem.
