San Francisco retains its status as the startup capital of the world
Posted: Thu Dec 12, 2024 4:21 am
Hollywood attracts actors who dream of stardom, and San Francisco and the surrounding area have long been the center of the startup universe, where founders flock in hopes of absorbing the magic that will transform their company into a well-known brand.
During the coronavirus pandemic, as remote work became more widespread, several cities, including Austin and Miami, have been vying to become the new startup capital. There were predictions that San Francisco dominican republic phone numbers resource would lose the title of tech hub. But despite the competition, it's still the hottest city for venture capital.
According to PitchBook Global VC Ecosystem Rankings , over the six-year period ending in Q2 2024, startups in San Francisco raised a whopping $430 billion in investment—more than double that of New York (ranked 2) and nearly triple that of Beijing (ranked 3).
Los Angeles, Shanghai and Boston are lower in the ranking. London is in 7th place, Seoul is in 8th, and Bengaluru (India) is in 9th place. Singapore completes the top ten.
Globally, the total volume of deals in the US reached $1.2 trillion, in China — $545 billion, and in the UK — $144 billion.
The $300 billion in cash in the venture capital ecosystem is more than enough for the next generation of unicorns. Most of that money is in San Francisco, and it’s likely to be mostly in the AI startups that dominate the market and command sky-high valuations.
During the coronavirus pandemic, as remote work became more widespread, several cities, including Austin and Miami, have been vying to become the new startup capital. There were predictions that San Francisco dominican republic phone numbers resource would lose the title of tech hub. But despite the competition, it's still the hottest city for venture capital.
According to PitchBook Global VC Ecosystem Rankings , over the six-year period ending in Q2 2024, startups in San Francisco raised a whopping $430 billion in investment—more than double that of New York (ranked 2) and nearly triple that of Beijing (ranked 3).
Los Angeles, Shanghai and Boston are lower in the ranking. London is in 7th place, Seoul is in 8th, and Bengaluru (India) is in 9th place. Singapore completes the top ten.
Globally, the total volume of deals in the US reached $1.2 trillion, in China — $545 billion, and in the UK — $144 billion.
The $300 billion in cash in the venture capital ecosystem is more than enough for the next generation of unicorns. Most of that money is in San Francisco, and it’s likely to be mostly in the AI startups that dominate the market and command sky-high valuations.