Start-up ecosystem: Kerala ranks top in Asia in global report

Providing a boost for Kerala’s start-up ecosystem, the State has been ranked first in Asia in Affordable Talent in Global Startup Ecosystem Report (GSER).

The State has also been ranked fourth in global ranking in the GSER, drawn up jointly by policy advisory and research organisation Startup Genome and Global Entrepreneurship Network. 

The GSER was released on Tuesday in the backdrop of the ongoing London Tech Week 2022, which brings together global governments and corporate leaders, inspirational start-up 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.

Govt. support

Kerala is highlighted in the report on enriching start-up and economic growth. The ranking measures the ability to hire and retain tech talent. It cited the government support and tech talent as reasons for start-ups to move to Kerala and flourish.

“Startup Genome is thrilled to see such incredible growth in Kerala’s startup community coming out of the COVID-19 pandemic,” said Marc Penzel, Founder and President of Startup Genome.

“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,” said KSUM CEO John M. Thomas.

During 2019-21, Kerala was able to create a start-up ecosystem valued at ₹1,037.05 crore. The government support and attractive incentives for the early-stage start-ups considerably helped the ecosystem to flourish in the State, the report said.

The report includes ranking of the leading 140 ecosystems, continental insights, and founder-focussed 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.