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New Startup Ecosystems Rankings: Top by Absolute Power as Lagos ranks number 81

In the Global Startup Ecosystem Index 2022, we have introduced for the first time the country rankings by Absolute Power. This alternative country ranking is achieved by not adjusting to the country’s population.  Below are our key findings:
Countries with bigger populations such as China, India, Brazil, Japan, Russia, and Indonesia rank significantly better than in the Index, as expected. The US, which ranks 1st in the global Index ranks 1st here too, demonstrating the US’s startup economy in absolute terms is significantly bigger than China and India.

The UK which ranks 2nd in the global Index is ranked just one spot below in this ranking at 3rd, ahead of countries with bigger populations such as India, Germany, and Japan. 

China is ranked 2nd in this ranking and 10th in the Index, showing the massive amount of innovation happening there. India ranks 4th here (with a very small gap from the 3rd ranked United Kingdom), while it is ranked 19th in the Index. The biggest overperformers in the top 10 of these rankings are Brazil (9th) and Indonesia (17th) which ranked 17 and 21 spots respectively better compared to the Index.

In absolute terms, Indonesia ranks better than neighbor Singapore by 1 rank, while in the Index it is ranked 31 spots below Singapore. This shows the strength of the Singapore startup economy, that despite its small population, manages to achieve results that are comparable – in absolute terms – to Indonesia’s results.  DOWNLOAD THE FULL STARTUP ECOSYSTEM REPORT 2022

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