2021 Global Startup Ecosystem Report released

Source: https://www.pexels.com

City of Cape Town, Wesgro and Silicon Cape worked closely with Startup Genome to highlight Cape Town’s strengths against ecosystems globally. Cape Town’s standing in the #GSER2021 -

• #1 African Ecosystem in Talent & Experience - measures long term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem
  
• #3 African Ecosystem in Performance - measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding
  
• #3 African Ecosystem in Funding - measures innovation through early-stage funding and investor’s activity
  
• Top 15 African Ecosystem in Bang for Buck - measures the amount of runway tech startups acquire, on average, from a VC round
  
• Top 20 African Ecosystem in Affordable Talent - measures the ability to hire tech talent
  
• Created $1.2bn in Ecosystem Value with $105m in total early-stage funding over the last 2.5 years
  
• Company & Corporate Tax in South Africa are cited as the reasons a startup should move to Cape Town
  
• The Fintech and EdTech are highlighted for their density of talent, support resources, and startup activity

The 2021 GSER provides insights and guidance to public and private leaders on how to cultivate thriving startup ecosystems and support local startups — the #1 engine of job creation and economic growth.

“Entrepreneurs, policymakers, and community leaders are working hard all over the world to build productive and inclusive technology ecosystems that are engines of economic growth and job creation for all,” said JF Gauthier, founder and CEO of Startup Genome. “The Global Startup Ecosystem Report is the foundation of knowledge where we, as a global network, come together to identify what policies actually produce economic impact and in what context.”

Vusi Thembekwayo, Silicon Cape co-chairperson says, “A report like this is confirmation that Cape Town, and by extension South Africa, is Africa's Tech Capital. It also highlights the enormous opportunity that the city and country present for foreign investors.”

View the full report here.