February 5, 2023

BENGALURU EXPRESS

Truth Triumphs

Stands 5th on the global tech VC investment map

Bengaluru Startup Ecosystem moved one place up in the global ranking

Bengaluru, June 14: Bengaluru Startup Ecosystem has bagged 22nd rank as per the latest Global Startup Ecosystem Report (GSER 2022) moving one place up from they last year. According to the Startup Genome published latest GSER Bengaluru scored highly on categories such as Funding, Connectedness, Market Reach, Talent + Experience, and Knowledge.

The survey finds, Bengaluru among the top 15 Global Ecosystems in Funding and among the top 25 Global Ecosystems in Performance. Bengaluru’s total Venture Capital (VC) Funding (2017-2021) is USD 21 billion touching a new high as compared to the global average of USD 4.5 billion.

Bengaluru now stands 5th on the global tech VC investment map, raising USD 7.5 billion in tech venture capital investment so far in 2022. Investment research has revealed that in the first five months of this year (January to May) Bengaluru’s tech firms have raised USD 7.5 billion in VC funding, considerably higher than the previous record of $5.2 billion during the first six months of 2021.

Dr.C.N.Ashwath Narayan, Minister for IT/BT, expressed his happiness over the ranking attained by the Bengaluru Startup Ecosystem on Tuesday saying, “The city aptly named the ‘Silicon Valley of India’ is now attracting more investment than other global hubs like Singapore, Paris, and Berlin. The government is committed to further the ecosystem with relevant policies, setting up of infrastructure, promoting industry-academia relationship and other several measures.”

“The Report also highlights that India is rising and six of the seven ecosystems tracked by Startup Genome from India have improved their ranking. This is a matter of pride for us and reflects the Hon’ble PM’s mission to make India’s startup ecosystem a global force”, Narayan has opined.

Also, Bengaluru ranks 8th among cities globally in the amount of VC investment attracted by its Fintech sub-sector, according to an analysis by research firm London & Partners and Dealroom. According to one more finding, in 2021, Bengaluru has outperformed both Beijing and Shanghai in the amount of venture capital raised.

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