Armenia’s Yerevan leaves behind regional capitals in updated Global Startup Ecosystem Index 2022

YEREVAN, June 20. /ARKA/. Armenia’s capital city Yerevan is among the top 250 cities of the world in the Global Startup Ecosystem Index 2022, leaving behind Turkey’s capital Ankara and other major cities of the region.

The index ranks startup ecosystems across 1,000 cities and 100 countries worldwide. Each ecosystem receives a total score, which is the sum of three sub-scores measuring quantity, quality, and business environment.

With this year’s score, Yerevan is the highest ranked city in the region having climbed 38 positions in the updated Global Startup Ecosystem Index 2022 report to the 244th place.

Ankara is ranked 280th, Tbilisi (Georgia) 382nd and Baku (Azerbaijan) 443rd. In the country ranking Armenia is 5 positions up in the country rating and is 60th among 100 countries, changing the negative trend of the last year and maintaining its leading position in the Caucasus region.

Turkey is 2 positions down in the ranking, having occupied 46th position, Georgia has improved its position by 7 notches, having reached the 73rd place, and Azerbaijan is 85th, having risen by 4 positions.

The report notes that the startup ecosystem of Armenia, a landlocked country with limited access to land due to tense relations with Turkey and Azerbaijan, demonstrates genuine resilience.

The report notes also the support for Armenia's startup economy and ecosystem coming from its Diaspora and its successful representatives.

The United States, United Kingdom, and Israel take up the top three spots in the index, followed by Canada, Sweden, and Germany. Singapore, Australia, France, and China complete the top ten. The US has 257 cities in the top 1000 rankings, with no other country coming close.--0--