Presented in London the Global Startup Ecosystem Report 2024

Intesa Sanpaolo Innovation Center and Fondazione Compagnia di San Paolo collaborated with Startup Genome to outline the profile of the Turin ecosystem, with significantly improved results

The 2024 Global Startup Ecosystem Report by Startup Genome and the Global Entrepreneurship Network was launched on the 10 of July at London Tech Week. The #GSER, powered by the world’s most quality-controlled dataset on startup ecosystems, analyzes data from over 4.5 million companies across 300+ entrepreneurial innovation ecosystems. It provides compelling new insights and deep knowledge about startup trends around the world and ranks the Top 40 global ecosystems, emerging ecosystems, and an expanded regional ranking.

Intesa Sanpaolo Innovation Center, Fondazione Compagnia di San Paolo, and Startup Genome have teamed up to spotlight Turin’s entrepreneurial ecosystem in the #GSER2024.

Here some highlights:

● The ecosystem created $2.9 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 122% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

● Turin has moved up 20+ spots and entered the Top 100 Emerging Ecosystems Ranking for the first time.

● Top 40 European Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

● Top 40 European Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

● The AI, Big Data, & Analytics, Smart Cities, and Spacetech sectors are highlighted for their density of talent, support resources, and startup activity

● Techstars Transformative World Torino, ESCP Business School’s Blue Factory, Torino Tech Map, and CTE Next are cited as reasons a startup should move to the ecosystem.

“We at Intesa Sanpaolo Innovation Center, are enablers to make Turin a cutting-edge ecosystem, attractive for innovative companies from all over the world. For us, promoting innovation goes beyond pure technological progress: it means enabling the transformation towards more sustainable development, facilitating the creation and acquisition of new competencies in the territory that provide competitive advantages for all stakeholders.” — says Viviana Bacigalupo, Managing Director of Intesa Sanpaolo Innovation Center.

"With Turin experiencing 122% growth in Ecosystem Value and appearing in the Global Emerging Ecosystem Ranking for the first time this year, we take great pride in our collaboration with Intesa Sanpaolo Innovation Center and Fondazione Compagnia di San Paolo to support local startup success stories," - shares Stephan Kuester, Managing Partner at Startup Genome. "Furthermore, Turin's strengths in Artificial Intelligence, Analytics, Smart Cities, and Space Technologies, poised for future global growth, highlight its significance in our network."

Here are some data related to global ecosystems from the new #GSER.

-       The number of new unicorns in 2023 was down 58% from 2022 and 87% from the 2021 peak. Though the total number is down, China nearly doubled its global share of new unicorns, from 6% in 2022 to 11% in 2023. With 15 unicorns, Silicon Valley again led all ecosystems for the most new unicorns in 2023, though this was down

-       The top three ecosystems have maintained their same positions from 2020, with Silicon Valley remaining at the top, followed by New York City and London tied for #2.

-       Tokyo has entered the Top 10 for the first time.

-       The top two Chinese ecosystems have dropped in the overall rankings: Beijing by one place to #8 and Shanghai by two to #11. Shenzhen has shown impressive growth, moving up seven spots to rank #28.

-       London stays Europe’s Top performing ecosystem, Paris has moved up an impressive four places from last year to reach #14 e 3° in EU.

-       Europe is the most represented region in the Emerging Ecosystems Ranking, with a 42% share in the Top 100 Emerging Ecosystems, followed by North America with a 27% share.

-       The top five ecosystems in MENA are Tel Aviv, Dubai, Cairo, Riyadh, and Abu Dhabi.