Startup ecosystem in the state has been ranked on top in ‘Asia in Affordable Talent’ in the Global Startup Ecosystem Report
Kerala’s position as the startup capital of India has yet again been endorsed, this time at the Asian level. In what could be termed a fascinating honour for the state’s vibrant startup ecosystem, the state has been ranked on top in ‘Asia in Affordable Talent’ in the Global Startup Ecosystem Report (GSER).
The state also has also been ranked fourth in global ranking as per the GSER, drawn up jointly by policy advisory and research organization Startup Genome and Global Entrepreneurship Network. The GSER released in the backdrop of the ongoing London Tech Week 2022, brings together global governments and corporate leaders, inspirational startup founders and investors to discuss the power of technology for societies.
In the first GSER published in 2020, Kerala was ranked 5th in Asia and 20th in the world. Kerala is highlighted in the report on enriching startup and economic growth.
GSER cites govt support, tech talent as reasons for growth of startups
The ranking measures the ability to hire and retain tech talent. It cited the government support and tech talent as reasons for startups to move to Kerala and flourish.
The GSER is the world’s most comprehensive, data-driven research on startups with over 3 million startups in 280 entrepreneurial innovation ecosystems being analysed. Startup Genome Founder and President Marc Penzel termed the growth of Kerala’s startup community, coming out of the COVID-19 pandemic, as incredible, and that his organisation is thrilled to witness such a growth.
Kerala Startup Mission’s CEO John M Thomas described the honour as a recognition to the creative steps taken by the KSUM to position the state as a startup power house. This ranking will help the state to build a strong network of startups that will play a key role in the growth of the state, he said.
Kerala, a startup powerhouse
During 2019-21, Kerala was able to create a startup ecosystem valued at Rs 1037.05 crore. The government support and attractive incentives for the early-stage startups considerably helped the ecosystem to flourish in the state, the GSE Report said.
The Report includes ranking of the leading 140 ecosystems, continental insights, and founder-focused articles from thought-leading experts. Top Asian emerging ecosystems were measured on the basis of talent, experience, long term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem.
The GSER 2022 Edition provides insights and guidance to public and private leaders on how to foster thriving startup communities.