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Many US business centers are among the best places in the world to start a business.
Startup Genome, a research organization that supports small businesses, has placed three American hotspots in the top five of the global startup ecosystem: Silicon Valley (located in California’s Santa Clara Valley), New York City and Boston.
In the year The firm’s report, released in 2022 and covering the period from mid-2020 to 2021, shows Boston and Beijing swapping positions from last year, with Boston rising from fifth to fourth place and Beijing falling one place.
China’s startup climate has fallen relative to other places due to a decline in early-stage funding, the report says.
Silicon Valley, a longtime magnet for tech companies, has topped the Startup Genome since 2017. The region attracts the largest amount of venture capital investment of any place in the world, with $105 billion invested in startups by 2021, according to the report. . That’s twice as much as 2020, the report says.
The latest report’s data is influenced by the policies in place during the Covid-19 pandemic – while strict policies in Beijing have hampered business activity in many US and European cities, people have used technology to continue their work.
Stanford University and other top schools nearby provide talent to Silicon Valley. Networking opportunities including the Silicon Valley Women’s Conference and the Venture Capital World Summit draw millions of people to startup-focused events.
New York City – tied with London for second place – attracts strong venture capital. Venture-backed startups in the city have raised $55 billion by 2021, more than double from last year. In the year In 2021, two New York venture-backed startups listed shares on the New York Stock Exchange and completed initial public offerings.
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