Overall, 2022 was successful for the UK startup scene despite adverse external facts like political uncertainty and Brexit. By continuing to browse this webpage or closing this notice, you consent to the use of cookies. Countries Registering The Most New Businesses Per Capita Low rates of corruption, less paperwork, cheaper costs, proper infrastructure encourage new businesses There are also qualified professionals that help to manage businesses for individuals and corporations after start-up. The author is an expert in their field and we are honored to feature and promote their contribution on the Crunchbase blog. This article is part of the Crunchbase Community Contributor Series. Israel has long been known as the Startup Nation with more than 6,000 active startups, making it the world leader for startups per capita. As of 2023, Chile exhibits a GDP per capita (PPP) of $29,613, reflecting a solid economic infrastructure underpinned by robust market-oriented policies. There is an availability of good infrastructure such as communication systems and electricity which facilitate business operations. Innovation itself is a key driver of the welfare of consumers, the Startup Estonia has been honoured to work with these organisations over the years and is excited about the many ways they bolster the local startup scene. The No. Thats the good news. Buenos Aires, the nation's capital, has become a hotspot for tech start-ups and green initiatives. Do I qualify? We recently took an in-depth look at the nations ecosystem, identifying 10 startups you should be keeping a close eye on. More than 77% of unicorns valued above $10 billion are categorized directly in tech-related fields, primarily in financial and commerce software. Thats 7.7 unicorns per million capita. 2. Access your favorite topics in a personalized feed while you're on the go. While Crunchbase collects funding rounds from all geographies worldwide, our ability to track financings in some countries may be more expansive than in others, due to factors including language, public availability of funding data, and other externalities. 4.1%. Among mid-sized countries, meanwhile, the U.K. was the standout, with an investment rate that works out to just under $500 per person. WebThe USC Marshall Center for Global Innovation is the leading center in the world for research on global innovation. 9 ranking: Average corporate income tax rate: 5.5%. People like myself who had forgotten to bring ID photos along for their license were queuing up outside. In fact, we have called 2022 the year of global startup ecosystem uncertainty. Below are some key insights: 1. Menlo Media S.L. Leading U.S. startup accelerators by investments as of July 2021, Leading European startup accelerators by investments as of July 2021, Leading Latin American startup accelerators by investments as of July 2021, Private equity firms with most exits in the U.S. 2023, Total private equity exit deal volume in Europe 2016-2021, Leading U.S. universities by number of graduates founding a start-up 2020, Gender distribution of African startup co-founders 2020, Leading start-ups of female entrepreneurs in India in 2020, by funding value, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022. Israel was a whisker away from overthrowing the U.K. in 2021, and is now not only far from it, but also has seen the national ecosystem of Canada, ranked fourth, narrowing gaps from it. This text provides general information. Moreover, foreign investments, especially in infrastructure development projects, have also played a significant role in bolstering Guyana's economy. What Smart Businesses Do In Tough Economic Times, Comparing And Contrasting AI And Human Translation, The Employee Experience Formula For Success, What Investors And Wealth Managers Need To Know About Wine Investing, Using A Content Supply Chain To Keep Up With Demand For Content, Why The Supply Chain Crisis Positioned India For Global Trade Growth. Despite considerable progress, wealth inequality and regional disparities in quality of life are an ongoing conflict for the nation. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, Countries Registering The Most New Businesses Per Capita, Countries With The Most Automobiles Per Capita, Countries With The Most Doctors Per Capita, Countries With The Most Nurses And Midwives Per Capita, Countries With the Most Police Officers Per Capita. Currently, the energy, textiles, food processing, and financial sectors are primary contributors to Colombia's economic structure. 1) Great Britain. Tap into the game-changing opportunities and supportive environment to supercharge your business with us! encourages Peeterson. Crunchbase Daily. Every year or so at Crunchbase News, we tally up which U.S. universities graduate the highest number of recently funded startup founders. The services sector, especially in areas such as information technology and telecommunication services, has seen steady growth, further contributing to the rise in GDP per capita. Most Recent Year. China and the United States have the highest number of unicorns worldwide, but one of the most active regions for startups is Latin America. per capita In 2022 Estonia went even further, with investment levels at a 3,6% share of GDP. Around 150 support organisations, from startup incubators to investment funds, are available to help accelerate your business. Uruguay is predominantly an export-oriented economy. WDI Tables. The country is going from strength to strength every year, states Atomicos report. A weekly update of the most important issues driving the global agenda. Estonia leads Europe in startups, unicorns and investments per capita In fact, Estonia is the country of digital signatures and paperless communication with 99% of government services available from the comfort of your home. Australia has transparent political and social policies which attract foreign investments. Richest Countries in South America - WorldAtlas Estonia leads Europe in startups, unicorns and investments The research, by national skip hire company Reliable Skip, analysed the total collected waste in 2022 by each local authority in the country and compared it to the This makes capital readily available for business establishment. According to the Swedish tech report 2022 the value of Swedens startup ecosystem nearly doubled in just a year, now valued at 239 billion.We were able to see some mega-rounds such asNorthvolts2.5 billion Growth Equity, four funding rounds totalling 2.4 billion forKlarna,Epidemic SoundGrowth Equity rounds, andKrys Series D. There are a few reasons why Sweden is so attractive for startup founders. Humanity is thus living "on credit", and it would take 1.75 Earths to meet the needs of the world's population in 2022. Eve Peeterson explains in Life in Estonia magazine that despite Estonias relatively small population of approximately 1.3 million people, the country is big on advanced digital capability and creating an entrepreneurial-friendly environment. We are happy to help. Over the years, Argentina has reoriented its economic strategies with an emphasis on strengthening domestic industries, improving infrastructure, and ensuring sustainable growth. Anna brings international experience in marketing and nonprofit fundraising. Swiss startups are soaring, benefiting from a stable economy, a thriving tech scene, and the infrastructure to back it up. Here is a full list of 10 magnified unicorns born in Estonia or founded by Estonians. Learning From Israel's Successful Innovation Ecosystem - Forbes Due to the fact that this is a Coastal region, there is unlimited access to trade channels such as ports, and this facilitates foreign trade. Despite its small size, Estonia is a heavyweight in the European tech ecosystem. Indeed, about 90%of the Finnish innovations born in the last decade support the realization of the UNs Sustainable Development Goals. Major trends in U.S. cities (represented in the index with 258 cities), include the increase of rankings of Chicago (ranked 13th), and the continued decrease of the ecosystem of Austin (ranked 20th), which still does not manage to close the gaps from the other topyet less trendyecosystems in the U.S. In its annual study, research and analysis firm NimbleFins looked at data from a variety of publicly-accessible sources, including the World Bank, World Economic Forum and They can have limited resources available at hand and must be resourceful and find new innovative ways of doing things in a more optimized manner. India. Moreover, it has significantly impacted our business ecosystem since 25% of Estonian startup founders are now of foreign citizenship. Estonia's deregulation policy equally reduces government involvement in businesses. , the multinational ride-hailing, delivery and microbility platform that is headquartered in the capital city of Tallinn and raised nearly $700 million in its last funding round in August. This is a testament to this ecosystems dominance across all sectors of the startup economy. The textile industry, led by companies such as Arturo Calle and Leonisa, contributes to the manufacturing sector. Global startups - statistics & facts | Statista Whether startups have offices in the UK, consider the UK market a large target audience, or work with partners across the channel, the UK is a key location for startup success. This flexibility provides a wide range of ideas for entrepreneurs. Zurich-based EthonAI gets 6.3 million boost to improve manufacturing quality management, Helsinki-based Hostaway raises 164 million to expand its leadership in the rebounding vacation rental sector, Finnish early-stage investor Lifeline Ventures closes a 150 million fund to back next-generation success stories, Startup Call invites new businesses and founders to set up base in Turku, Finland (Sponsored), Finnish startup Inven secures 1.5 million to shake up M&A processes, Swedish fintech ArK Kapital extends capital pool to 400 million and expands non-dilutive financing model to Germany, Finnish startup Carbonaide lands 1.8 million to make carbon-negative concrete manufacturing possible. Climeworks, specializing in carbon dioxide air capture technology, raised 600 million. The oil industry remains central to the economy, with Ecopetrol, the state-owned petroleum company, as a significant contributor. The Social & Leisure industry represents 10.4% of total startups but has only managed to create 31 Unicorns. Expertise from Forbes Councils members, operated under license. Ranked second in the U.S. and globally, New York formed its own solid and unique global and national tier. As the world's third-largest exporter of soybeans and corn, the agricultural sector contributes significantly to the nation's GDP. Investment totals are for the 12-month period from Oct. 28, 2020, to Oct. 28, 2021. New Zealand also operates a free market economy; businesses are protected by the government, but there is little to no interference by any authority. For example, others and I have observed that Tel Aviv is friendly to the LGBTQ+ community. Uruguay has also shown progress in tourism, with its seaside resorts like Punta del Este attracting a global audience. As a matter of fact, in 2020 alone, Startup Visa applications arrived from 88 countries, meaning that the ecosystem is only going to get increasingly diverse. Startups and venture capital in the Middle East and North Africa, Get the best reports to understand your industry. Look to foster long-term relationships with customers, partners, investors and employees. As of 2023, Chile exhibits a GDP per capita (PPP) of $29,613, reflecting a solid economic infrastructure underpinned by robust market-oriented policies. people, but 4 unicorn start-ups Most Overall, more than 2.2 billion was raised by tech companies in 2022 and the country is counting around 30 unicorns in total:SonarSource, Scandit and Climeworks. There are 413 startups in Estonia. Country. Another standout that requires a bit of explanation is the surprisingly high ranking for Estonia. Estonian healthcare startup Certific is expanding its services with the launch of a digital communication and engagement platform for primary care, making healthcare more accessible than ever. When it comes to Israel, I call it The Island Syndrome.. You may opt-out of your consent at any time by changing the settings of the device you are using and deleting your saved cookies. But we wanted to investigate a little further to find out which nations are the most investment-happy. The country has fostered corporations such as IKEA or Volvo and startup unicorns, including online platform Klarna and sustainable business Northvolt. The report was published in December 2022 when the Estonian Startup Database showed 1,452 startups founded in Estonia. Year by year, these countries demonstrated a constant level of stability and innovation and established strong startup economies. The country is home to a thriving startup scene with over +47 accelerators and incubators, +20 investment funds, +18 events and networking organizations, and many other ecosystem players. Estonia is a perfect place for brave hearts, independent minds, and entrepreneurial souls. CSV XML EXCEL. How is it possible that one country is great in all: founding startups, growing billion-dollar worth tech companies, and raising money? In 2020, the commencement of oil production in the Stabroek Block, located approximately 120 miles offshore Guyana by a consortium led by ExxonMobil, transformed the country's economic prospects. , score rather low on the per capita metric. The average number in whole Europe is 5 startups per 100.000 people. London has long been seen as the startup epicenter of the world outside Silicon Valley. Have a look at our cookie policy. Countries In fact, we have called 2022 the year of global startup ecosystem uncertainty. Below are some key insights: San Francisco remains the undisputed global leader in innovation, but New York, the worlds second-highest ranked, is continuing a trend of closing gaps with San Francisco. Find the right companies, identify the right contacts, and connect with decision-makers with an all-in-one prospecting solution. Cyprus has a favorable tax system, where taxes are relatively low. On a per capita basis, Estonia retains its leadership position as the region's most entrepreneurial country for tech startups, states Atomico's report. But among all countries, the U.S. ranks fourth in per capita startup investment. Explore Our DataBank. The market is just too small to enable a big economical success if one doesnt target international markets from the get-go. May 31, 2023. Despite this, it is pumping out impactful innovation and startups and the country is a regional leader in terms of forward-thinking tech, for instance, 98% of the countrys electricity comes from renewable sources. Currently, there are 167 startups in the country including 45 Foodtech startups in Iceland, 30 Energy & Environment startups in Iceland and 18 Health startups in Iceland. It also means the country has a rich talent pool that has a high level of English for international founders and investors to dive into in search of talent. For more details, review our .chakra .wef-12jlgmc{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;font-weight:700;}.chakra .wef-12jlgmc:hover,.chakra .wef-12jlgmc[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-12jlgmc:focus,.chakra .wef-12jlgmc[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);}privacy policy. The industrial sector, particularly automotive and aviation, has significant international importance, with notable companies such as Embraer and Volkswagen Brazil. The Central Bank of Uruguay's prudent monetary policies, in response to global economic conditions, have helped maintain stability. Due to varying update cycles, statistics can display more up-to-date The low tax system also makes starting a business less difficult. Despite this, there are still signs of growth and so far, resiliency is what is standing out. The Estonian startup ecosystem has made significant strides forward, with approximately 30% year-on-year growth over the past 5 years, notes Peeterson. Finnish startup Fiberwood secures 3 million for its ecological insulation and packaging materials. And precisely as Atomico predicted earlier, the number of Estonian startups has continued to grow. Thematic data tables from WDI. This produced the not entirely unexpected result that many very populous countries see only a tiny pittance of venture capital investment. Those are findings from our latest survey of per capita venture capital investment across a sample set of 24 countries that pulled in more than $1 billion in the past 12 months. Startup Nations: The 6 European countries with the most startup investment per capita. .chakra .wef-10kdnp0{margin-top:16px;margin-bottom:16px;line-height:1.388;}What is the World Economic Forum doing about digital trade? Israel has many different cultures represented in its population. But depending on the sector, your startup might also be well located in other UK cities like Manchester, Birmingham or Edinburgh which are also more affordable options when it comes to office space and hiring. No, it would be fewest people per skyscraper. Between 2010 and 2015, the country attracted just around $150 million in total venture funding, per Crunchbase data. She believes that the Estonian startup ecosystem is led by inclusive individuals who are keen on lifting each other and organising incredible events. The Biggest Startups by Industries and Countries. You may opt-out of your consent at any time by changing the settings of the device you are using and deleting your saved cookies. Startup Estonia has been honoured to work with these organisations over the years and is excited about the many ways they bolster the local startup scene. In 2022 a new fintech company, Fly Now Pay Later, raised about 155 million. According to the. To generate the most accurate results, we work closely with more than 100 governments and global data partners, such as Crunchbase. On a population-adjusted basis, Estonia is the clear European capital of start-ups; Among the worlds largest nations, the U.S. has by far the highest rate of startup investment relative to population. Richest Countries in South America Botswana's economy supports all kinds of businesses; as such, anyone can own a business: rich, poor, young, elderly, etc., due to the highly diverse economy. Furthermore, its workforce is reliable and resolute due to educational investments. Average annual wage: $50,993. The programme has been aimed at enabling startup founders to relocate their businesses to Estonia and benefit from the full range of perks of the first country in the world to offer e-Residency and e-voting. Start-up activity at the country level varies significantly in terms of density across Europe. 1 steak consumer per capita despite the painful impact of But in some countries, becoming self-employed is a necessity rather than a dream. The U.S. remains the world leader across multiple industries and startup metrics, and maintains a total score that is 4x that of the second ranked country (the U.K.). The rest of the industries lag behind in both representations in the sample and in the unicorn count. START Estonia is becoming the newest Nordic foodie destination as 180 restaurant became the countrys first Two Michelin Stars experience restaurant, closely followed by the One Michelin Star restaurant Noa Chefs Hall. As a result, Singapore, which is becoming a stronger regional hub every year, ranks seventh after a jump of three spots and is now the top-ranked country in Asia. However, the political situation is uncertain, with a Progressive series of victories in 2022, which may affect Chile's future economic situation. Average annual wage: $50,993. Speaking of which, Estonia is a flagship tax-competitive country in the whole OECD. 9 ranking: Average corporate income tax rate: 5.5%. Speaking of which, Estonia is a flagship tax-competitive country in the whole OECD. The U.K. has solidified its position and substantially increased its gap from the third ranked country, Israel. 2023 Crunchbase Inc. All Rights Reserved. Moreover, Estonia boasts an impressive array of 34 Michelin Guide recommended restaurants across the country. Heres how water, nitrogen and a simple sprayer could revolutionize the production of ammonia, Scientists Discover a New Eco-Friendly Ammonia Production Method, Growth Summit 2023 - Lost Einsteins: Diversifying Innovation - English, The First Mobile Phone Call Was Made 50 Years Ago, This Country Has the Most Women Inventors in Europe, This Egyptian Start-Up Is Recycling Plastic Bags Into Paving Tiles, Chief Economist and Head of the Mastercard Economics Institute, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. as the Best European Country for Startups ", Check out what countries made the list below. There is also no VAT on imported machinery to be used for production. We recently explored Swedens thriving startup scene, identifying 10 promising startups to watch this year. Furthermore, Israel has the highest number of vegans per capita, roughly 4% of the population. The investment rate per capita in Finland is at about 335 per person.