Moscow, the capital of Russia, is the 10th best city in the world for startups, followed by Bengaluru, StartupBlink Startup Ecosystem Ranking said on Wednesday.
Moscow moved up from 14th position in 2017 to 10th position, while Bengaluru moved from 21th position to 11th position, bypassing cities such as Tokyo, Paris and Hong Kong.
San Francisco has been crowned the world’s best city for startups. The list features more than 1000 cities in 100 countries. At number two on the list is New York, followed by London at number three.
Strong performers in India included New Delhi (14), Mumbai (29), Chennai (74), Hyderabad (75). Chennai and Hyderabad moved more than 100 positions up in comparison with 2017.
There are more than 4,500 startups in Moscow, according to the Moscow Agency of Innovations, which provided statistic, expert and analytical information to the Ranking. “Moscow boasts a developed innovation ecosystem, which is growing rapidly”, says Alexei Parabuchev, CEO of Moscow Agency of Innovations.
“It’s not only about the number of startups”, says Eduard Lysenko, Head of Moscow’s Smart City Department. “Moscow is creating favorable conditions for developing technology at large.”
Head of Center for Indian Studies of Institute of Oriental Studies of the Russian Academy of Sciences Tatiana Shaumyan calls for Indian and Russian cities to exchange experience in the field of innovation. “Moscow and Bangalore shall be proud of going head-to-head in such a prestigious rating,” she said. “Bangalore, Chennai and Hyderabad are one of the centers of high technology industry. I am sure that Moscow is willing to share experience with Indian cities.”
The rating system evaluates IT data from startups, accelerators and coworking spaces registered on IT platforms and aims to identify the cities with the strongest startup ecosystems. The rating methodology considers the number and quality of startups, infrastructure, business climate and public support for innovation.
Previous StartupBlink Startup Ecosystem Ranking was published in November 2017, the next report will be annual as well in April 2020.
See the full 2019 StartupBlink Startup Ecosystem Ranking: