India Positioned 20th in Global Startup Ecosystem Index

02 July 2021 Current Affairs:India stands at the 20th spot amongst the top 100 nations that have been ranked in the Global Startup Ecosystem Index for the year 2021 by Startup Blink. The country was in the 17th spot in 2019, after which it slid six spots down and stood at 23 in 2020. According to the report, India needs to better its infrastructure and Internet speed in order to similarly support its start-up ecosystem.

Ranking of the Indian Cities: India presently has 43 of its cities listed in the top 1000 globally, with Bengaluru(10th), New Delhi (14th) and Mumbai (16th) in the top 20.
Country-wise ranking: Like the past year, the US, the UK, Israel, Canada and Germany are in the top 5 spots this year too and continue their lead.

About the report:
♦ The file has a score for each location, which is calculated as the sum of three parameters: quantity, quality and business environment. The extent parameter comprises factors such as number of start-ups, number of start-up related meet-ups, quantity of co-working spaces, number of accelerators, etc.
♦ On the other hand, the first-rate parameter considers factors such as the variety of employees per start-up, the presence of unicorns, exits and pantheon companies, global start-up events, and presence of global start-up influencers, among other factors.
♦ The commercial enterprise rating evaluates factors such as ease of registering organizations and doing business, internet pace and freedom, degree of English proficiency, research and development investment, quantity of patents per capita, availability of a variety of science services such as charge portals, ride-sharing apps, cryptocurrency, etc.

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