11th June 2024- Chennai emerges as a global startup hotspot, boasting four unicorns in the past decade, according to the Global Startup Ecosystem Report by Startup Genome and the Global Entrepreneurship Network. Ranked 18th in Asia, the city showcases its prowess in attracting affordable tech talent, securing a spot among the top 25 globally and top 10 in Asia for talent affordability.
Released during London Tech Week, the report positions Chennai within the 21-30 range in the Emerging Ecosystem Rankings worldwide. Notably, Tamil Nadu contributed $27.4 billion to the ecosystem value from July 2021 to December 2023, reflecting substantial economic impact through exits and startup valuations.
Chennai excels in various metrics, ranking in the top 15 in Asia for performance and top 20 for funding. Additionally, it shines in talent retention, appearing in the top 25 Asian ecosystems for talent and experience.
The report aligns with StartupTN’s vision to propel Tamil Nadu into the top 20 global startup ecosystems. Initiatives include bolstering the startup landscape across tier I, II, and III cities, establishing regional hubs in key locations, and setting up a Global Coordination Center in Dubai to facilitate market expansion.
Looking ahead, Tamil Nadu anticipates hosting a Global Startup Summit in early 2025, further cementing Chennai’s status as a thriving entrepreneurial hub.
Source:Link
