Genome’s Global Startup Ecosystem Report. Top 3 leading by performance, funding and talent?
London claims the third spot
London and Paris are the only two European fintech ecosystems that made it into the top 10, with London claiming the third spot. Whereas, the US has Silicon Valley, New York City, Boston, & Chicago in the top 10.
Talking about how Europe can create more thriving fintech hubs like London & Paris, Ghei says, “This is a little bit a function of where the capital is. NYC, Boston have multiple local funds that have LPs in local university endowments etc. Europe, in that sense, is rather concentrated on sovereign funds and as a result, these 2 cities have born the fruit of sustained investment.”
“In the next 5 years, I see capital allocations changing geographically in Europe, particularly in Central Eastern Europe where the next fintech hub is likely to emerge,” he adds.
Additionally, it is the first instalment of the annual sub-sector report series, and this one ranks in the global top 20, and runner-up, Fintech startup ecosystems. These ecosystems are evaluated on five Success Factors, including Performance, Talent, Funding, Focus and Legacy. The top five Fintech startup ecosystems globally in 2020 are Silicon Valley, New York City, London, Singapore and Beijing, respectively.