2024 Global Startup Ecosystem Report Highlights Investment Trends in Generative AI

The 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network, launched at London Tech Week, offers a deep dive into global startup trends. Analyzing data from over 4.5 million companies across 300+ ecosystems, it ranks innovation drivers and reveals significant insights.

Key findings show a decline in global VC funding and a drop in Exit Values. IPOs remain scarce, but Cleantech investments are resilient. Notably, Generative AI saw a surge in funding, with nearly 20% of all VC funding in 2023 going to GenAI startups, a threefold increase from 2022.

Early-stage investment showed a potential modest recovery in Q1 2024. Series A funding in 2023 was down 46% from 2022, with large exit values falling 47%. Silicon Valley led in new unicorns, although their numbers dropped sharply. The share of Series A funding for the Top 40 ecosystems fell, while the Top 100 Emerging Ecosystems saw an increased share.

Europe led the Emerging Ecosystems ranking, with North America following. Late-stage Cleantech startups raised significantly more funds in H2 2023 compared to H1 2020.

The GSER aims to guide public and private leaders in fostering startup communities, underpinning job creation and economic growth.