TLDR:
- Seoul, South Korea, ranked 9th in the world as an ideal city for startups according to PitchBook.
- The rankings were based on metrics such as capital raised, exits, and fund formation amounts over a 6-year period.
A recent survey conducted by PitchBook, a U.S.-based investment data provider, has revealed that Seoul, South Korea, has claimed the 9th spot on the list of top cities worldwide for startups. The rankings were determined based on various metrics such as capital raised, exits, and fund formation amounts over the past 6 years, providing insights into the size, maturity, and growth rate of the venture capital ecosystem in each city.
While San Francisco secured the top position, Seoul’s 9th place ranking highlights its overall development score, growth score, capital raised, number of transactions completed, exit deals, and fund formations. The city amassed a total of US$31.1 billion in capital raised, making it a competitive player in the global startup scene.
Other notable cities on the list include New York, Beijing, Shanghai, Los Angeles, and London, reflecting the diverse geographic representation within the top 10. The survey also showcased the dominance of the United States and China, with 4 cities each in the top 10 rankings.
Seoul’s recognition as an ideal city for startups underscores the city’s growing reputation as a hub for innovation and entrepreneurial opportunities. With a thriving VC ecosystem and a strong focus on supporting new businesses, Seoul continues to attract investors and entrepreneurs looking to establish successful startups.
