Update1.2 Actionable benchmarks from 288 techecosystems based on investment,innovation, talent, and outcome. August 2025 update ABOUT DEALROOM.CO Mapping the worldʼstech ecosystems The source of record on startups, innovation,high-growth companies, venture capital andtech ecosystems globally Providing datatransparency to120+ Tech Ecosystempartners across the world Join our ecosystem network now»dealroom.co/ecosystems-network EXPLORE THE RANKING Benchmark yourTech Ecosystem inreal time! Explore and compare 288 citiesacross 69 countries with our live &interactive dashboard. »Explore now Learn more about theGlobal Tech Ecosystem Index and dashboard Intro to the Index - Video Podcast Find out more atdealroom.co/tech-ecosystem-index-2025 Introduction1 2The Top Tech Ecosystems 2025 3Innovation around the World 4Sector Deep Dives AMethodology and Data Notes What is the Global Tech Ecosystem Index? Global ChampionsSCALE LENS A global index of startup ecosystems in 288 citiesacross 69 countries. Why we built it How it works Density LeadersPER CAPITA LENS Designed to show which ecosystemslead, which are densest, and which arerising fastest. Responds to growing demand frompolicymakers to build local innovationeconomies. Built to give a multi-dimensional viewof where innovation thrives. Helps citiesunderstand their strengths, gaps, andglobal position. Shows that great ecosystems canemerge anywhere, not just inbig tech hubs. Rising StarsGROWTH LENS Points are awarded based on apercentile ranks per metric. A comprehensive global index: 288 cities in69 countries were analyzed for this report The dataset starts with 208 citiesthat have at least one unicorn.Additionally, it includes 80 cities whichhave at least >$100M in funding and50+ VC rounds since 2019. ▊Cities with 20+ unicorns (30 cities)▊6–20 unicorns (49 cities)▊0–5 unicorns (210 cities) In this report, we look at cities asmetropolitan areas or hubs which mayconsist of multiple cities, suburbs andnearby towns. We created three lenses to highlight different strengths of tech ecosystems Global ChampionsSCALE LENS Density Leader Rising Stars GROWTH LENS PER CAPITA LENS The fastest-growingtech ecosystems globally, identifiedthrough growth in enterprise value,and unicorn creation over time,adjusted for economic conditions. The worldʼs biggest and mostestablished startup ecosystems, rankedby absolute metrics such as venturecapital, enterprise value creation,unicorns, and university linkages. Ecosystems that outperformrelative to their population size,showing exceptional innovationoutput per capita. These hubs are marked byhigh startup activity, research intensity,and strong university linkages,proving that world-class ecosystemscan emerge anywhere. These are dynamic,often under-the-radar hubstransforming rapidly and signalingthe next wave of global innovation. These hubs have the depthand infrastructure to supportstartups from seed to IPO and oftenshape global tech trends. SCALE LENS Global Champions Top Global Champions»See results ▊Early▊Breakout▊Late stage▊EV▊Unicorns▊Funding growth▊Alumni▊Patents The worldʼs largest and mostsuccessful startup ecosystems,identified by VC investment,enterprise value, ecosystemmomentum, unicorns, universitylinkages and patents. These cities are great places to buildlarge tech companies. While theBay Area(#1) is still theundisputed champion, newer hubssuch asAustin(#5),Tel Aviv(#10) orStockholm(#14) have started tobuild substantial ecosystems. Paris(#4) is the top hub in Europe,followed byLondon(#6). Top 5 Global Champions compared»See results New York CityUNITED STATES NOTABLE UNIVERSITIES FIRST UNICORN Columbia University, New YorkUniversity (NYU), Cornell University(NYC campuses) DoubleClick (acq. by Google) ENTERPRISE VALUE$1.3 Trillion ICONIC COMPANIESDatadog, CoreWeave, Runway METRO AREA INHABITANTS8.8M people COST OF LIVING100% (NYC is the benchmark) While this index emphasizes overall ecosystem performance overstrength in any singular metric, these cities still have uniquestrengths and weaknesses. You can explore this and further insightsin our dedicated data dashboard. New York City Paris Seoul “It is clear that New York Cityʼs tech sector is unlikeany other, powered by a diverse economy,world-class talent pool, robust fundingopportunities, and an unmatched culture scene,making NYC the ideal location for tech companiesto flourish and grow. From climate tech and lifesciences to deep tech and AI, the next wave ofinnovation is unfolding right here. “Paris's ecosystem has really accelerated over thelast 12-24 months, largely due to the AI talent andnew wave of repeat founders. “Seoulʼs startup ecosystem is uniquely positioned atthe intersection of world-class technology, vibranttalent, and strong public-private collaboration. “The AI Action Summit in the beginning of 2025 alsoput France's ecosystem front and center on aglobal level. The current geopolitical clim