Startup ecosystems are springing up in all corners of the world and everyday, we hear of the growth of the global startup movement. Ambitious founders, creative teams, dying to make a mark on the world, keen to find unique ways to solve the world’s problems.
From city blocks like the Silicon roundabout in London and initiatives like Station F in Paris, there are lots of ecosystems starting to form. But let’s go back to the start of it all- what is a startup ecosystem and what makes up one?
Startups need a whole community; they cannot exist in a vacuum. They are born as part of a network that’s much bigger. They consists of entrepreneurs and their support system- the community of people, organisations and other startups around them. Together, that formulates a startup ecosystem. Members of the ecosystem work together to innovate in their community. An ecosystem usually comprises of the startup, education board/ programs, funding providers, incubators and accelerators, agencies/ consultants, service providers, advisory organisations, government agencies, and corporations amongst a whole host of others.
But be wary, that it’s not as easy to mix together the right ingredients and create the perfect dough. A range of external and internal factors can influence the development of each startup ecosystem; the economy, market size, maturity and risk, government support to name a few.
That being said, with the increase in digital dependency growing, more and more startups are surviving and moving forward. With advances in technology like blockchain and crypto currency, there’s democratization within the startup industry. This in turn, leads the entire startup ecosystem to create new behavioural pattern changes for the consumers. More than two billion people have online identities and established digital footprints through social media. There are over 480 innovation hubs globally and over 1.3 million venture backed companies.
Startup Genome’s Global Startup Ecosystem report, 2020 edition offers even more exciting news for the rise of innovation ecosystems globally. According to the report, more than 80 ecosystems globally have produced a million-dollar startup with London coming in second on the global startup ecosystem ranking and Mumbai as #1 in the emerging global ecosystem list. The report states that “there will be no ‘next Silicon Valley’, there will be 30.”
A number of opportunities for collaboration between the uk and india have emerged with their shared strengths in technology and innovation. London comes in as the second most popular city for Indian companies looking to expand internationally over the last five years and London companies are also increasingly looking to india for international expansion.
That’s where we, JPIN comes in: with presence in over 50 cities in India and others worldwide, we are the largest emerging investment bank, globally, looking to build an unparalleled ecosystem for the growth of startups . We see the collaboration between the two emerging ecosystems- India and the UK, and are building the largest bi-directional UK-India investment and growth corridor for startups and growth companies.
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