Telangana is among the Top 30 Global Ecosystems for Affordable Talent in 2020; Hyderabad is among the Top 100 Emerging Ecosystems Ranking in 2020 and Startup Genome evaluated about 300 ecosystems globally
The 2020 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was launched at The Ecosystems Couch Conference. The GSER is the world’s most comprehensive and widely-read research report on startups. Out of the 300 ecosystems that were studied, a Global Top 30 Ecosystems ranking and a Top 100 Emerging Ecosystems ranking were drawn up. The release comes at a critical time when four out of every ten startups globally have three months or fewer of liquidity in the wake of the COVID-19 pandemic.
In May, T-Hub, which leads India’s pioneering innovation ecosystem, and Startup Genome, announced that they would foster Telangana’s innovation ecosystem and showcase success stories of the state’s entrepreneurs. Startup Genome has benchmarked Telangana’s performance.
The state’s pool of innovation hubs and startup support organizations are cited as the reasons a startup should move to Hyderabad. Its regional sub-sector strengths include Life Sciences and AI, Big Data & Analytics. Telangana has created $759 million in Ecosystem Value with $65 million in total early-stage funding over the last 2.5 years. Telangana has built a strong startup base over time, and Hyderabad alone houses over 4000 startups. Known for its IT reputation, Telangana’s innovation and tech ecosystem has enormous potential to redesign the economy nationally and globally.
With an expanding footprint, the 2020 GSER provides insights and guidance to public and private leaders about how to foster thriving startup ecosystems, particularly furthering the conversation on how governments can support and leverage tech ecosystems to restart economies recovering from the COVID-19 lockdowns.
Ravi Narayan, CEO of T-Hub and Chief Innovation Officer of the State of Telangana, said, “We are proud that Telangana is among the top startup ecosystems in the world. Over the last five years, Hyderabad has emerged as a startup hub, and the city has seen a growing push towards new-age technology startups. Telangana is at the forefront of creating demand for innovative startups to scale up in the Indian and International markets. Along with T-Hub, the Telangana innovation network partners, such as TSIC, WE Hub, TASK, RICH, and T-Works are actively working towards strengthening Hyderabad’s innovation ecosystem in India and the world.”
T-Hub is an innovation ecosystem enabler, driven by creating meaningful impact for startups, corporates, governments, academia, amongst others. Through T-Hub’s initiatives, Telangana has been successfully driving collaborations with many leading corporates, government bodies, academic institutions, and other key stakeholders. It has also been contributing to the growth index across other ecosystems in different geographies. Also, T-Hub has built an open innovation platform that brings the best of the world’s latest technology solutions from startups and curated problem statements from the corporates. The open innovation approach will enhance competitiveness and accelerate growth for startups.
“This is the time for policymakers, community leaders, and foundations to double down on their support of local startups — the #1 engine of job creation and economic growth,” said JF Gauthier, Founder & CEO of Startup Genome. “The Global Startup Ecosystem Report is the foundation of global knowledge where we, as a network, come together to identify what policies actually produce economic impact and in what context.”
