Mumbai has 636 startups in our sample database. This represents about 15% of India’s startups. Mumbai is the 3rd best startup ecosystem in India.
While Mumbai decreased by 8 spot in its global rank in the Global Startup Ecosystem Index of 2023, its ranking in India remained stable at 3 nationally since 2022.
With a growing number of startups being created in India each year, the country is bustling with more startup energy than ever. The Mumbai startup ecosystem is playing a very important role in India’s burgeoning startup scene and is its financial capital.
The startups in the Mumbai Startup Ecosystem mostly revolve around the financial, consumer services, media and retail sector. The abundance of venture capitalists, growth funds, educational institutions and incubators has propelled Mumbai’s growth in the startup scene.
One of the success stories in Mumbai’s startup ecosystem is one Acko General Insurance, a digital insurance company with a license to underwrite and distribute bite-sized insurance products which succeeded to exceed US $1 billion in valuation. Another example is Upstox, a fintech company that allows innovative investment options for its users. These success stories are proof showcasing Mumbai`s specialization in the fintech industry.
Mumbai also houses the head offices of a number of giant corporations, which means easy access to capital and experienced professionals. The city also offers startups an interesting mix of management and engineering talent, new as well as old. Every year, the city attracts students from all over India, who choose to study in the city owing to its many cosmopolitan attractions and opportunities. The city is home to premier institutes for engineering as well as management.
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The health check tables allow you to look at the performance Mumbai has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
Mumbai is ranked within the top 30 startup ecosystems globally.
Mumbai’s startups excel particularly in Edtech where it ranks 9 and in Fintech, and Foodtech. Find out more
2023 National Rank & Change | City | Global Rank & Change | Total Score | Quantity Score | Quality Score | Business Score |
---|---|---|---|---|---|---|
1st 0 | 8th 0 | 64.232 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 13th 0 | 44.560 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 25th - 8 | 30.154 | 00.00 | 00.00 | 00.00 | |
4th 0 | 78th + 12 | 8.482 | 00.00 | 00.00 | 00.00 | |
5th 0 | 89th + 8 | 7.946 | 00.00 | 00.00 | 00.00 | |
6th 0 | 102nd 0 | 7.118 | 00.00 | 00.00 | 00.00 | |
7th 0 | 181st + 31 | 3.449 | 00.00 | 00.00 | 00.00 | |
8th 0 | 195th + 28 | 3.020 | 00.00 | 00.00 | 00.00 | |
9th 0 | 239th + 28 | 2.049 | 00.00 | 00.00 | 00.00 | |
10th + 2 | 371st - 7 | 0.930 | 00.00 | 00.00 | 00.00 |
Within Mumbai there is an increased attraction for entrepreneurs to set up their startups in industries such as Edtech, Fintech, Foodtech. These three industries represent about 27% of the startups represented on the Startup Ecosystem Map of Mumbai.
Mumbai is India's 3rd best startup ecosystem and is ranked 3rd in South Asia. With a population of undefined, Mumbai is ranked 25th in the world. The city has some notable startup success stories including PharmEasy.
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