The Outlook Start-Up Outperformers 2023 rankings evaluates 44 cities in the country for their strengths as start-up enablers.
The environment in which a start-up exists, or aims to set up shop in, plays a major role in determining its success. From access to a wide and relevantly qualified talent pool, incubation of ideas and mentorship to raising funds and building a sustainable business model, start-ups need handholding support in the place of their origin. Survival and growth can be difficult without these. Which is why, budding entrepreneurs prefer certain cities as the launch pad for their dreams. Ditto with investors. After all, they too need to be sure of returns on their investments.
Which are the cities where entrepreneurs prefer to lay the foundation stone of their business dreams? What about a city gives investors the confidence to bet their money on fledgling enterprises within its boundaries? The choice of a city to start up from is not a gamble; it is a properly evaluated decision that rests on intensive market research on what will work best for a particular idea. While some ideas will need the strong ecosystem of the metros, others can grow better in smaller towns and cities.
The Outlook Start-Ups Outperformers 2023 ranks 44 cities in the country, including metros and major Tier II and III cities, on their strengths as start-up enablers. Besides their individual capabilities, it also looks at the unified attractiveness of cities in a cluster and how they contribute to each other’s growth.
The ranking framework provides for an extensive and exhaustive study of these cities, with focus on the most relevant parameters like the number of growth-stage start-ups and their financials, presence of high-ranked educational institutes, incubators, mentors, investors, etc., as well as availability of office and civic infrastructure, among others.
Our in-depth analysis will help entrepreneurs and investors to evaluate the inherent potential of a particular geographical location and the advantages and risks of entering that market. For policymakers, there are insights into areas of improvement, which can help promote innovation and strengthen local economies.
Watch out for the November 2023 issue of Outlook Business to understand the finer points that make or hamper a city’s prospects as a start-up enabler.