Ecosystem value is a measure of economic impact, calculated as the value of exits and startup valuation.

The Global Startup Ecosystem Report (GSER) 2024 was released by US-based Startup Genome and Global Entrepreneurship Network at London Tech Week.

While Kerala tops India's startup ecosystem as per GSER-2024, the other states to make the list are Telangana, Tamil Nadu and Karnataka.

GSER-2024 is powered by the world's most quality-controlled dataset on the startup ecosystem.

The report notes that while the average growth worldwide during the period under review was 46 percent, Kerala's startup ecosystem grew by 254 percent compounded from July 1, 2021, to December 31, 2023, compared to the same period ending in 2021. Recorded annual growth.,

Kerala was ranked fourth in Asia's startup ecosystem in the 'affordable talent' category, which measures the ability to hire tech talent, while the state is in the top-30 list when it comes to the 'performance' of the startup ecosystem. Is.

Chief Minister Pinarayi Vijayan said the state is building on its dynamic startup ecosystem that has been at the forefront of transformative innovations.

“We are now moving towards deep tech, investing in talent and infrastructure to foster startups leading in advanced technologies,” the Chief Minister said.

Startups in Kerala raised $33.2 million (Rs 227 crore) in 2023, a 15 percent increase over the previous year.

Similarly, software exports to reach $2.3 million in 2022-23 help Kerala achieve its target of 10 per cent share in the country's IT exports besides creating five lakh new jobs.Anup Ambika, CEO, Kerala Startup Mission (KSUM), said no other state in the country has the same level of government support as Kerala.

“Our mission is to take Kerala's startup growth to the world average in the next five years,” Ambika said.

KSUM, which was established in 2006 under the Government of Kerala, works for entrepreneurship development and incubation activities in the state.