Bengaluru was in the 20th spot in 2021 and 2023. It has transformed into a global technology hub with global companies, centers, and startups of all sizes.
Known as India's Silicon Valley, Bengaluru has tied with Sydney for the 21st spot in the top 40 global startup hubs, as per Startup Genome's Global Startup Ecosystem Report 2024. New Delhi and Mumbai are also on the list at the 24th and 37th spots, respectively.
The top five global hubs are the same as in 2020. Silicon Valley is in first place, followed by London and New York City in second place. Los Angeles and Tel Aviv are both tied for the 4th position on the list this year.
The top 5 startup hubs account for 54% of the total value of the top 40 ecosystems, or $4.4 trillion. Tokyo has seen a hike in its position on the list and has made its way into the top 10. Miami has also shown progress from last year and has reached the 16th position. Bengaluru's ecosystem value has increased by 22%, reaching $158 billion from December 2021 to 2023.
Bengaluru's tech growth despite low tech salariesBengaluru was in the 20th spot in 2021 and 2023. It has transformed into a global technology hub with global companies, centers, and startups of all sizes.
It has 43 unicorns and is highly ranked for its cost-competitiveness index. Bengaluru has also achieved VC funding of over $32 billion. However, the average salary of a tech professional in Bengaluru was $12,000 last year, which is significantly lower than the global average salary of $47,000.
China's two leading startup hubs, Beijing and Shanghai, are currently facing a decline this year. Beijing was 4th on the list in 2022; however, with the limited number of deals, the city has dropped to 8th position.
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