How Innovation Hubs Surged Despite the Pandemic
13 Jul 2021
When Startup Genome released its annual Global Startup Ecosystem Report in June 2020, the world faced considerable uncertainty. The COVID-19 pandemic had led to a 74% drop in the number of Chinese venture rounds within two months, created an environment where it was unclear whether startup ecosystems could survive lockdowns, and spooked capital markets.
As it turns out, startups ended up surviving and even thriving, setting the stage for bolstered innovation ecosystems. As we move further into 2021 and the pandemic’s grip on the world lessens, hubs are growing, and economic activity has jumped.
Why were startup ecosystems surprisingly boosted in 2020? Where do things stand today? Which up-and-coming ecosystems are worth watching as we move ahead into this decade? While the 2021 Global Startup Ecosystem Report will not be released until September, here are a few early insights.