Question:What is the rank of India in Global Startup Ecosystem Index 2021?
(a) 12th
(b) 13th
(c) 20th
(d) 13th
Answer:(c)
Related Facts:
- Global Startup Ecosystem Index 2021 is released by Startup Blink.
- India stands at the 20th spot among the top 100 countries.
- The country was in the 17th spot in 2019, after which it slid six spots down and stood at 23 in 2020.
- With this jump, India’s start-up ecosystem makes a re-entry into the global top 20 countries again
- Last year, the US, the UK, Israel, Canada and Germany are in the top five spots this year too and continue their lead.
Facts Related to India:
Ranking of Indian Cities are as follows:
- India currently has 43 of its cities in the top 1000 globally.
- Three countries are in top 20 list.
- Bengaluru is at 10th rank.
- New Delhi is at 14th rank .
- Mumbai is at 16th rank.
About Startup Blink:
- Startup Blink considers “any business that applies an innovative solution.
- It validates a scalable economic model” as a start-up, and the innovation could be a business model, a product, a service or a process.
- The report has a score for each location, which is calculated as the sum of three parameters — quantity, quality and business environment.
- The quantity parameter comprises of elements such as number of start-ups, number of start-up related meet-ups, number of co-working spaces, number of accelerators, etc.
- The quality parameter, on the other hand, takes into consideration elements.
- These are such as number of employees per start-up, the presence of unicorns, exits and pantheon companies, global start-up events, presence of global start-up influencers, among other factors.
- The business score evaluates elements.
- The elements are ease of registering companies and doing business, internet speed and freedom, level of English proficiency, research and development investment, number of patents per capita, availability of various technology services such as payment portals, ride-sharing apps, cryptocurrency, etc.
How India can perform better?
- According to the report, India needs to better its infrastructure and Internet speed in order to further strengthen its start-up ecosystem.
- It also stated that the start-ups must focus on finding innovative solutions that are adaptable across the world, instead of focussing on local markets alone.
By – Amit Gupta
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