Context:
Three Indian cities make it to the top 50 Startup cities in Pitch Book’s 2024 rankings.
More on the news
- This surge in startup activity, evident in multi-billion-dollar valuations secured by companies globally, is reflected in PitchBook’s 2024 rankings.
- PitchBook’s 2024 rankings showcase the world’s leading startup ecosystems. Notably, three Indian cities – Mumbai (32nd), Bengaluru (34th), and Gurugram (48th) – secured positions among the top 50, reflecting the country’s growing startup scene.
- This achievement comes as the US dominates the rankings with 20 cities, followed by China with 10.
- The PitchBook rankings, based on Venture Capital (VC) investment activity, offer valuable insights into the development and growth of startup hubs worldwide.
About Pitchbook
- It was founded by John Gabbert in 2007 with a vision for providing transparency into the global private capital markets through data, research, and tools.
- It works as a financial data and software company with offices in London, New York, San Francisco and Seattle.
- Headquarters: Seattle, Washington, United States.
List of Top 5 Cities
| Rank | City | Country | Development Score |
| 1 | San Francisco | United States | 89.50 |
| 2 | New York | United States | 76.00 |
| 3 | Beijing | China | 75.60 |
| 4 | Shanghai | China | 72.90 |
| 5 | Los Angeles | United States | 71.40 |
Methodology for ranking in the report
- The framework provides a scoring system for development and growth by assessing the size, maturity and growth rates of a VC ecosystem using proprietary data points housed in the PitchBook Platform.
- Development Score is derived from two criteria: Size and maturity.
- The Growth Score demonstrates short, medium and long-term growth momentum regarding VC deals, exit and fundraising activity across the past six years.