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Last week Startup Genome
released their annual “Global Startup Ecosystem Report
” (link to download at the bottom). The publication tracks the performance of the 30 most competitive startup ecosystems in the world.
Here is my take on it.
According to the report, 2018 was a record year. In 2018 we witnessed a decade-high $220 billion in total VC investments. The fastest growing sub sectors, in terms of early-stage funding deals (Seed + Series A), are:
- Advanced Manufacturing & Robotics (107.9%)
- Blockchain (101.5%)
- Agtech & New Food (88.8%)
- Artificial Intelligence, Big Data & Analytics (64.5%)
Interestingly, the 2019 report emphasizes the growth of so-called “deep tech
” startups. These are start-ups developing technologies based on tangible engineering innovation or scientific advances and discoveries (source
). Now, the fact that Hello Tomorrow
, a non-profit organization “on a mission to unlock the potential of deep technologies to solve the world’s toughest challenges” was the main partner of the 2019 report might explain why there is so much emphasis on this sub sector. Although the 2019 report describes “Deep tech” as a sector on a steady growth trajectory since 2011, the term was absent in last year report.