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Startup Sub-Sector Lifecycle Sub-Sectors, Please See Our Methodology Section

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Startup Sub-Sector Lifecycle Sub-Sectors, Please See Our Methodology Section Global Startup Ecosystem Report 2018 Succeeding in the New Era of Technology Copyright © 2018 Startup Genome LLC. All Rights Reserved. 1 Contents 3 About Startup Genome 46 Startup Sectors and 124 Ecosystem 166 Berlin 210 Methodology, and Global Entrepreneurship Sub-Sectors Deep Dives 168 Frankfurt Framework, and Network 170 Greater Helsinki Acknowledgments 48 Artificial Intelligence 125 North America 172 Istanbul 126 Atlanta 211 Acknowledgments and Partners 4 About Our Global Partners 55 Blockchain 174 Jerusalem 61 Advanced Manufacturing & Robotics 128 Austin 176 London 222 Methodology 5 Our Global Network 130 Boston 67 Agtech & New Food 178 Malta 229 Data Sources and References 132 Chicago 74 Fintech 180 Munich 8 State of Startup Ecosystems 134 Edmonton 182 Paris 81 Health and Life Sciences 136 Houston 13 Growth and Decline of 184 Stockholm 89 Cybersecurity 138 Los Angeles Startup Sub-Sectors 186 Tel Aviv 140 Montreal 95 Cleantech 188 Asia-Pacific 142 New York City 102 Edtech 189 Bengaluru 17 Ecosystem Strategy 144 Ottawa 108 Gaming 191 Beijing and Science 146 Phoenix 192 Hong Kong 117 Adtech 148 Quebec City 18 Introduction to Ecosystem Strategy 194 Kuala Lumpur 121 Consumer Electronics 150 Seattle 20 The New Science of 196 Manila 152 Silicon Valley - Bay Area Ecosystem Assessment 198 Melbourne 154 Tampa Bay 30 Founder Mindset 200 New Zealand 156 Toronto-Waterloo 202 Shanghai 36 Local Connectedness 158 Vancouver 203 Shenzhen 41 Female and Male Founders 160 Europe & Middle East 204 Singapore 43 Immigrant Founders 161 Amsterdam-StartupDelta 206 Sydney 163 Bahrain 208 Taipei City 164 Barcelona Copyright © 2018 Startup Genome LLC. All Rights Reserved. 2 About About the Global Startup Genome Entrepreneurship Network Startup Genome works to increase the success rate The Global Entrepreneurship Network (GEN) operates of startups and improve the performance of startup a platform of projects and programs in 170 countries ecosystems globally. In a collaborative effort with hun- aimed at making it easier for anyone, anywhere to start dreds of public and private organizations in more than 30 countries and scale a business. By fostering deeper cross border collabora- we built the world’s largest primary research on startups, the Voice tion and initiatives between entrepreneurs, investors, researchers, of the Entrepreneur, with +10,000 founders participating each year. policymakers and entrepreneurial support organizations, GEN This allowed us to develop rigorous models that are considered work to fuel healthier start and scale ecosystems that create more the new science of startup ecosystem assessment. jobs, educate individuals, accelerate innovation, and strengthen economic growth. We advise leaders of innovation ministries, agencies, and organi- zations supporting startups, bringing data-driven insights, clarity, Our extensive footprint of national operations and global ver- and focus to actions that produce more scaleups, job creation, ticals in policy, research and programs ensures members have and economic growth. With our partners Global Entrepreneurship uncommon access to the most relevant knowledge, networks, Network and Tech Nation (formerly Tech City UK), and thanks to the communities and programs relative to size of economy, maturity generous support of the Kauffman Foundation, we deliver holistic, of ecosystem, language, culture, geography and more. We help evidence-based strategy frameworks for startup ecosystems across celebrate, understand, support, and connect entrepreneurs and all phases of development. those who champion them. Reach out to us if you are seeking to boost job creation and eco- Stay up-to-date on news and updates via genglobal.org. nomic growth in your region through startups. Copyright © 2018 Startup Genome LLC. All Rights Reserved. 3 About Our Global Partners Crunchbase: Everyday investors, journalists, founders, and the global business community turn to Crunchbase for information on start- ups and the people behind them. Tech Nation (formerly Tech City UK): Empow- ers ambitious tech entrepreneurs through growth programmes, digital entrepreneurship skills, a visa scheme for exceptional talent, and by championing the UK digital sector through data, stories and media campaigns. Orb Intelligence: Database of firmographics that provides company information on 50 million com- panies worldwide and powerful data matching capabilities to mar- keting software vendors and B2B marketing agencies. Dealroom: Helps corporations, in- vestment firms, and governments to track innovative companies and identify strategic opportunities, through data-driven software. Copyright © 2018 Startup Genome LLC. All Rights Reserved. 4 Our Global Network Helsinki Business Hub Edmonton Economic Government of Ontario Development Quebec International The Vancouver Economic Tech Nation (formerly Tech City UK) Invest Ottawa City of Montreal; Centech; Commission; BC Tech Association MaRS; Communitech Real Investment Management StartupDelta; The Ministry of Economic Affairs City of Munich, IHK for Munich and Bavaria, Invest in Bavaria, LMU Entrepreneurship NYC Economic Development Center, Munich Startup, Unternehmertum, Strascheg Center for Entrepreneurship (SCE) Corporation; Tech:NYC TechQuartier Metro Atlanta Chamber (MAC) Jnext Tampa Bay Wave; Hillsborough County Catalonia Trade Tel Aviv Global & Investment InvestHK; Hong Kong StartupAZ; ACA; The Arizona Economic Development; University of Business Next Science and Technology Technology Council; South Florida (USF) Tamkeen Parks Corporation Entrepreneurship + Innovation at The Malta Communications Houston Exponential (HKSTP); Cyberport Arizona State University; Invest Authority (MCA) The Union of Chambers Department of Trade & Industry Southwest; The Partnership for and Commodity Economic Innovation Exchanges of Turkey MaGIC (Malaysian Global (TOBB); Endeavor; Innovation & Creativity Centre) Turkish Exporters Enterprise Singapore Assembly (TIM); Habitat Association TechSydney; StartupAUS; The University of Technology Sydney The NZ Angel Association (AANZ) LaunchVic Copyright © 2018 Startup Genome LLC. All Rights Reserved. 5 thriving cluster of startups, and from institutions and corporations and Tech Nation (formerly Tech City UK), we have started delivering A Word from that can provide IP, talent, customers, and channels? national innovation policy strategies and program action plans. And with the support of the Kauffman Foundation, we are clarifying We tackle the rise of Deep Tech, and along with it, of China. We how to take action at the earliest stages of an ecosystem. A laundry a Founder are not only creating disruptive business models with software, we list or “just copy the old success story of [insert favorite example]” are increasingly creating tangible IP in AI, blockchain, robotics, and doesn’t work. National context and lifecycle phase matters, and accelerating the creation of IP in other sectors, such as life sciences we are going further. and even automotives. This is your report, the report of the global startup revolution. The intense and exciting life of a startup with all its ups and downs, We pursue our world-leading research as to the genome of startup Let’s raise our voices together and change the world. Let’s build a what a ride! This report cannot capture what it really feels like to and ecosystem performance by quantifying on a global basis how shared engine of economic growth and job creation in every city be inside any of your startups, inside Startup Genome or my VR important are Founder Mindset and Local Connectedness—for in the world. And let’s share the wealth we are creating—at an startup. What it can do is inform your decisions and priorities using founders to develop quality relationships with each other, investors unprecedented rate—with our brothers and sisters and the next the power of the only deep and global dataset built from the voice and experts. Startup founders who are personally more connect- generation. This is important. of thousands of founders with the support of more than 300 orga- ed see their startups grow faster. Free-riding inside a connected nizations supporting startups in almost 30 countries—thank you! community doesn’t work. Not only that, we can now quantify an ecosystem’s Local Connectedness and demonstrate that the ones This year, we focus on a development in the Tech sector that is that build a deep sense of community—for instance where found- happening at an unprecedented pace and has deep implications ers help each other—perform better at producing scaleups. for founders and our economies at large: convergence. It is the Third Wave. We are now producing true industry players, breaking Along with Global Connectedness and Global Market Reach, these away from the “Tech” label. Many of our companies would now constitute the new genome of scaleups and high-performance JF Gauthier be more accurately called by their industry focus, for instance as ecosystems. Funding and Talent are very important, but they are Founder and CEO of Startup Genome transportation (Uber) and hospitality (Airbnb) companies. not enough. This report dives into leading startup ecosystem sub-sectors (or Finally, we are helping startups by advising governments and other verticals) answering strategic questions for our global community local leaders, focusing their policy and program action plans for of founders, talent, investors and supporters: which sub-sectors greater impact, and providing a broad set of validated metrics to are growing the fastest, attracting
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