While cities like Mumbai, Bangalore, Beijing, and Shanghai have certainly shown their ability to attract venture investment and create startup ecosystems, their levels of venture capital remain well below that of the Bay Area, New York, and Boston. cities that combine density, great universities, and the open-mindedness and tolerance required to attract talent from across the world. Ultimately, global venture investment is highly uneven and spiky, concentrated in a small number of leading cities and metros around the world.Īlthough venture-capital investment has certainly “gone global” by spreading to places like China and India, the dominant centers remain large U.S. Across the world, the top 10 metros account for more than half of global venture investment, the top 20 metros account for almost two-thirds, and the top 50 account for more than 90 percent. have become significant centers for venture capital-backed high-tech startups: London, Paris, and Moscow in Europe Toronto in Canada Beijing and Shanghai in China and Mumbai and Bangalore in India. The leading centers remain the Bay Area and the Boston-New York-Washington Corridor, while a number of global cities outside of the U.S. * * * The upshot is this: While some smaller places, mainly in the U.S., do well on a per capita basis, venture capital increasingly flows to large global cities, with all their density and dynamism. Fifteen of the top 25 global cities rank among the world’s top 60 venture-capital centers. Twelve of the world’s leading cities rank among the top 25 venture-capital centers. Conversely, greater San Francisco-which is far and away the world’s leading venture-capital center-only ranks as the world’s 23rd leading global city. New York, the world’s most economically powerful city, is fourth for venture-capital investment. While there is some overlap between the two lists, they are by no means identical. To get at this, the table below compares the top 20 venture capital centers to the world’s most economically powerful cities. But how do the leading venture capital centers match up with the world’s dominant global cities? We’ve seen how venture capital investment is concentrated in a small number of metros worldwide. Most notably, smaller metros across the United States such as Jacksonville, Madison, Greensboro, and New Haven join the list as well. Tech hubs like Austin, Seattle, and Denver also appear on the list, as does New York. But now, Durham in the North Carolina Research Triangle moves up to fourth place, followed by San Diego in fifth. San Jose and San Francisco once again top the list, followed by Boston. Even on a per capita basis, the Bay Area continues to dominate. Venture-Capital Investment Per Capita Rank China and India are each represented by a pair of metros: Beijing ($758 million) and Shanghai ($510 million) are ranked ninth and 14th, while Mumbai ($497 million) and Bangalore ($419 million) are 15th and 17th. Toronto ($628 million) is 12th, and Paris ($449 million) is 16th. With $842 million, London is the world’s seventh largest venture capital center. Share of Global Venture Capital Investmentīut, considerable centers of venture-capital investment have grown outside of the U.S. And two broad mega-regions-the San Francisco Bay Area and the Boston-New York-Washington Corridor-account for more than 40 percent of global venture investment. Taken together, these six metros-San Francisco, San Jose, Boston, New York, Los Angeles, and San Diego-account for roughly 45 percent of total global venture-capital investment. is home to the top six metros and 12 of the top 20. The table below lists the top 20 metros with the highest levels of venture-capital investment worldwide. Venture-Capital Investment by City Martin Prosperity Institute is the world’s dominant center for venture capital, accounting for nearly 70 percent (68.6 percent) of total global venture capital, followed by Asia and Europe with roughly 14 percent each (14.4 percent for Asia and 13.5 percent for Europe). The largest dots, indicating the largest levels of venture capital investment, are located in the East and West Coasts of the United States, Western Europe, and around the mega-cities of China and India. The map below shows the world’s leading centers for venture-capital investment globally.
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