We’ve just released the Global Startup Ecosystem Index 2025, ranking over 110 countries and 1,400 cities using real data across the quantity of startup activity, success of the activity, and business environment for startups. In our latest podcast episode, StartupBlink CEO Eli David Rokah joins Andrej Vaklinski to break down what the numbers actually mean — the shifts in the global top 10, the regions gaining traction, and why these changes matter for founders, governments, and investors alike. If you’re looking to understand where global innovation is headed — and why some ecosystems are pulling ahead — this episode is a must-listen for you.
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Key Trends from the Global Startup Ecosystem Index 2025
United States: Signs of relative stagnation
While the United States remains the world’s leading startup ecosystem, it showed the lowest growth rate among the top 50 countries, at just 18.2%. Many U.S. cities declined in the rankings, and only 22% of the top 1,000 startup cities are now in the U.S. — continuing a multi-year downward trend.
Asia Pacific Records the strongest average annual growth for its startup ecosystems.
In Asia, Singapore reached a major milestone, climbing to 4th place globally and overtaking Canada. The country posted a 44.9% ecosystem growth rate, the highest among the global top 10. Singapore City itself grew by more than 50%, jumping to 12th place — continuing its impressive five-year rise from 10th to 4th.
China followed closely with a national growth rate of 45.9%. Beijing climbed to 5th globally, overtaking Boston, while other cities like Shanghai, Guangzhou, and Hangzhou each recorded growth rates above 30%, cementing China’s regional dominance.
Saudi Arabia: The biggest leap globally
Saudi Arabia recorded the most dramatic national improvement in the Index’s history, climbing 37 spots to rank 38th. With a growth rate of 236.8% making it the only country to more than double its ecosystem size this year, Saudi Arabia was named Startup Ecosystem Country of the Year.
On the city level, Baku in Azerbaijan was awarded City of the Year, following a 47-spot climb and a growth rate of over 40%, making it the fastest-growing ecosystem in the South Caucasus.
London Leads Europe as Regional Growth Surges
In Europe, London maintained its position as the continent’s top city, with nearly 30% growth. Despite early concerns that Brexit might undermine the UK’s innovation economy, the data tells a different story. The UK increased its lead over Israel and posted one of the highest growth rates in the global top 20 at 26.3%, suggesting that its startup ecosystem has not only recovered but grown stronger in the years since its exit from the EU. Sweden, Switzerland, and France also performed well, each posting growth rates above 30%. France’s capital Paris rose to 8th globally, marking its highest-ever position in the Index.
For more highlights from this year’s Index, read our featured articles on the Top Countries for Startups and the Top Cities for Startups in 2025.
Ecosystems to Watch
Beyond the top-ranked locations, a number of ecosystems have shown steady improvement and strong growth trajectories, positioning them as emerging players on the global stage. While they may not yet rank in the upper tiers, their performance in this year’s Index signals potential for future impact, especially for investors, founders, and policymakers looking to engage early.
Colombia: Latin America’s Steady Climber in the Startup Ecosystem
Colombia continues to be one of Latin America’s most consistent climbers. Ranked 36th globally, it has now improved for four years in a row, supported by a growth rate above 20% and strong public-private collaboration across cities like Medellín, which posted the region’s highest ecosystem growth at over 40%. Colombia stands out for its disciplined, long-term approach to ecosystem building, with a coordinated national strategy and strong entrepreneurial foundations that have helped it pull ahead of regional peers.
Cyprus: EU’s Fastest-Rising Country
Cyprus has achieved the largest global climb among EU countries for the second consecutive year. Now ranked 40th globally after a five-spot jump, Cyprus maintained a growth rate close to 30%, driven by relocation-friendly policies and an increasingly vibrant innovation scene. With well-crafted incentives and high engagement from ecosystem builders, Cyprus has emerged as one of Europe’s most dynamic small-market ecosystems, quickly becoming a preferred base for founders relocating from abroad.
Cabo Verde: Western Africa’s Fastest Growing Country
Cabo Verde, a small island nation of just over 500,000 people, climbed three spots to rank 75th with a growth rate of 22.8% — the highest in Western Africa. Its consistent upward trend reflects the effectiveness of focused national strategies and targeted ecosystem programs. Cabo Verde is becoming a compelling case study of how smaller nations, with the right coordination and vision, can develop credible startup ecosystems and gain international visibility.
Barcelona: Southern Europe’s Rising Star in the Global Startup Scene
Barcelona also stands out for its continued momentum within Southern Europe. With a 40.4% growth rate, the city climbed five positions and is now ranked 33rd globally, ahead of several larger metropolitan peers. Barcelona’s growing appeal is driven by its ability to attract international talent and maintain global relevance.
What’s New in the 2025 Report
This year’s edition introduces several upgrades that improve both analytical depth and usability. The most important addition is the Annual Ecosystem Growth Score, a new metric that compares each location’s total score in the 2024 and 2025 Indexes. This allows users to track not just rankings, but year-on-year momentum.
The dataset behind the Index has also expanded significantly, with nearly double the number of mapped startups and ecosystem entities compared to the previous edition. This has improved the accuracy of rankings and added more detail at the country and city level.
Each country page now includes a data box with key performance indicators: total startup funding in 2024, growth rate since 2024, number of unicorns, billion-dollar exits since 2015, leading industry, and the number of Y Combinator–backed startups. These additions make it easier to benchmark ecosystem performance and identify specific areas of strength.
Finally, the 2025 edition includes the naming a Startup Ecosystem Country and City of the Year, based on both quantitative data and qualitative insights.
Strategic Lessons for Policymakers and Ecosystem Developers
The 2025 Ecosystem Index offers an opportunity to benchmark startup ecosystems for governments, economic strategists, and ecosystem developers.
This year’s top performers approached ecosystem building as a proactive, high-priority mission. They treated their ecosystems the way startups operate: building visibility, generating momentum, and acting with urgency. These governments didn’t wait for growth to happen rather they enabled it through targeted infrastructure investments, founder-friendly policies, and consistent global outreach.
Crucially, they also avoided the common pitfalls seen in maturing ecosystems: policy instability, underinvestment, or complacency once initial progress is achieved. Sustained execution and a long-term outlook were essential ingredients for success.
Examples from this year’s Index illustrate how different strategies yield different results. Singapore rose from 10th to 4th over five years by creating a stable, low-friction environment for founders and avoiding self-inflicted setbacks. Saudi Arabia’s unprecedented 37-spot jump shows how ecosystems can accelerate rapidly with a strong strategy, intentional focus, resources, and execution.
The data also reveals a widening gap: ecosystems ranked 10–30 are now growing faster than both the top 10 and bottom 20. Growth is not guaranteed, it must be earned through strategic action. Countries that fail to invest risk stagnation, while those who act decisively can redefine their innovation trajectories.
For policymakers and ecosystem stakeholders, the takeaway is clear: startup ecosystem development is not a luxury or an add-on, it’s a foundational strategy for shaping economic futures in a fast-changing world.
