The results are in, and The US has been named the most startup-friendly country in the world. 5th place is India, 4th place is Israel, 3rd place is Canada, and 2nd place is the UK. The rankings were determined by CEOWORLD magazine’s annual assessment of countries’ competitiveness and capabilities in science- and technology-based economies.
The United States maintains its position as a top country for startups due to several factors, not the least of which is its research and development (R&D) capabilities. The country has a high rate of startups and a thriving angel and venture funding industry. It is worth noting that the United States is also known for its emphasis on building a knowledge-based economy. The magazine’s startup ecosystem ranking evaluates 62 countries across his five categories, including human capital investment, research and development, entrepreneurial infrastructure, technology workforce, and policy dynamics.
The top 10 countries in the world are, in no particular order, the United States, United Kingdom, Canada, Israel, India, Germany, Poland, Malaysia, Sweden, and Denmark.
The world’s most startup-friendly country in 2024
rank | Country | Score | Investing in human capital | Research and Development | Infrastructure for entrepreneurs | technical personnel | Policy dynamics |
---|---|---|---|---|---|---|---|
1 | America | 92 | 84 | 88 | 92 | 87 | 84 |
2 | England | 91 | 83 | 87 | 91 | 86 | 83 |
3 | Canada | 90 | 82 | 86 | 90 | 85 | 82 |
Four | Israel | 89 | 81 | 85 | 89 | 84 | 81 |
Five | India | 88 | 80 | 84 | 88 | 83 | 80 |
6 | Germany | 87 | 79 | 83 | 87 | 82 | 79 |
7 | Poland | 86 | 78 | 82 | 86 | 81 | 78 |
8 | Malaysia | 85 | 77 | 81 | 85 | 80 | 77 |
9 | Sweden | 84 | 76 | 80 | 84 | 79 | 76 |
Ten | Denmark | 83 | 75 | 79 | 83 | 78 | 75 |
11 | Switzerland | 82 | 74 | 78 | 82 | 77 | 74 |
12 | France | 81 | 73 | 77 | 81 | 76 | 73 |
13 | Singapore | 80 | 72 | 76 | 80 | 75 | 72 |
14 | Australia | 79 | 71 | 75 | 79 | 74 | 71 |
15 | China | 78 | 70 | 74 | 78 | 73 | 70 |
16 | estonia | 77 | 69 | 73 | 77 | 72 | 69 |
17 | Ireland | 76 | 68 | 72 | 76 | 71 | 68 |
18 | Russia | 75 | 67 | 71 | 75 | 70 | 67 |
19 | South Korea | 74 | 66 | 70 | 74 | 69 | 66 |
20 | Spain | 73 | 65 | 69 | 73 | 68 | 65 |
twenty one | Finland | 72 | 64 | 68 | 72 | 67 | 64 |
twenty two | Netherlands | 71 | 63 | 67 | 71 | 66 | 63 |
twenty three | Japan | 70 | 62 | 66 | 70 | 65 | 62 |
twenty four | Lithuania | 69 | 61 | 65 | 69 | 64 | 61 |
twenty five | Austria | 68 | 60 | 64 | 68 | 63 | 60 |
26 | Portugal | 67 | 59 | 63 | 67 | 62 | 59 |
27 | Italy | 66 | 58 | 62 | 66 | 61 | 58 |
28 | Czech Republic | 65 | 57 | 61 | 65 | 60 | 57 |
29 | Belgium | 64 | 56 | 60 | 64 | 59 | 56 |
30 | Romania | 63 | 55 | 59 | 63 | 58 | 55 |
31 | United Arab Emirates | 62 | 54 | 58 | 62 | 57 | 54 |
32 | Greece | 61 | 53 | 57 | 61 | 56 | 53 |
33 | Indonesia | 60 | 52 | 56 | 60 | 55 | 52 |
34 | Slovakia | 59 | 51 | 55 | 59 | 54 | 51 |
35 | Norway | 58 | 50 | 54 | 58 | 53 | 50 |
36 | latvia | 57 | 49 | 53 | 57 | 52 | 49 |
37 | new zealand | 56 | 48 | 52 | 56 | 51 | 48 |
38 | malta | 55 | 47 | 51 | 55 | 50 | 47 |
39 | Philippines | 54 | 46 | 50 | 54 | 49 | 46 |
40 | Croatia | 53 | 45 | 49 | 53 | 48 | 45 |
41 | Argentina | 52 | 44 | 48 | 52 | 47 | 44 |
42 | Brazil | 51 | 43 | 47 | 51 | 46 | 43 |
43 | ukraine | 50 | 42 | 46 | 50 | 45 | 42 |
44 | South Africa | 49 | 41 | 45 | 49 | 44 | 41 |
45 | Chile | 48 | 40 | 44 | 48 | 43 | 40 |
46 | turkey | 47 | 39 | 43 | 47 | 42 | 39 |
47 | Mexico | 46 | 38 | 42 | 46 | 41 | 38 |
48 | Bulgaria | 45 | 37 | 41 | 45 | 40 | 37 |
49 | Hungary | 44 | 36 | 40 | 44 | 39 | 36 |
50 | Thailand | 43 | 35 | 39 | 43 | 38 | 35 |
51 | Iceland | 42 | 34 | 38 | 42 | 37 | 34 |
52 | Luxembourg | 41 | 33 | 37 | 41 | 36 | 33 |
53 | Slovenia | 40 | 32 | 36 | 40 | 35 | 32 |
54 | Hong Kong | 39 | 31 | 35 | 39 | 34 | 31 |
55 | Iran | 38 | 30 | 34 | 38 | 33 | 30 |
56 | cyprus | 37 | 29 | 33 | 37 | 32 | 29 |
57 | Serbia | 36 | 28 | 32 | 36 | 31 | 28 |
58 | tunisia | 35 | 27 | 31 | 35 | 30 | 27 |
59 | Kuwait | 34 | 26 | 30 | 34 | 29 | 26 |
60 | Saudi Arabia | 33 | twenty five | 29 | 33 | 28 | twenty five |
61 | qatar | 32 | twenty four | 28 | 32 | 27 | twenty four |
62 | Vietnam | 31 | twenty three | 27 | 31 | 26 | twenty three |
General methodology Selected by CEOWORLD magazine as one of the world’s most startup-friendly countries in 2024. The ranking is based on five key indicators of a country’s competitiveness and capabilities. The overall score (100%) is the sum of:
1) Investing in human capital: This shows how much money is (invested) in developing and training tomorrow’s workforce.
2) Research and development: This examines a country’s research and development (R&D) capacity to see if it has the facilities to generate innovations that can attract funding, commercialize, and contribute to economic growth.
3) Entrepreneurial infrastructure – This determines the success rate of converting research into commercially viable products and services.
4) Technical personnel – This composite measures the relative presence of high-end technical and scientific talent.
5) Policy dynamics – It evaluates the achievements of technology and how effectively policymakers and other stakeholders have leveraged regional assets to improve regional prosperity.
Research disclosure: How do they make their choices?
The 194,976 respondents were sent a long list of over 256 metrics drawn from leagues across each continent and asked one simple question. “Which country will be the friendliest country in the world in 2024?” We asked respondents to choose five countries each and rank their choices from 1 to 10. The first place is her choice as the world’s most economical country in 2024. Each respondent’s No. 1 choice received 10 points, No. 2 choice received 9 points, and No. 10 choice reduced to 1 point. All votes were summed to create a raw score. For an economy to be included on the list, it had to receive votes from at least 500 respondents.
Although we are very grateful to all the respondents who participated, they were not compensated for their participation in this project. To allow respondents to express their opinions freely, individual voting records are anonymized in the complete breakdown of scores. The rankings are based on a survey of 194,976 people from 95 countries in the Americas, Asia, Europe, and Africa.
Of these, more than 194,976 were “informed elites” (university-educated middle- or upper-class individuals). More than 54,000 people were business leaders, defined as senior leaders of companies (500 or more employees). The rest belonged to the general public. The rest belonged to the general public. The survey included respondents from 95 countries and was conducted from January 12 to March 19, 2024. The top-ranked economy is awarded 100 points.
This ranking is the result of a rigorous analysis that incorporates multiple data sources. Detailed survey data and information were collected directly from 194,976 individuals across 256 data points. We analyzed over 130 economies during the data collection process.
The overall score is a numerical score given to an economy based on respondent feedback and measures a country’s competitiveness and ability to be a “science and technology focused” economy. The total score is out of 100. The margin of sampling error for the total sample of 194,976 respondents is plus or minus 1.3 percentage points. In addition to sampling error, it should be kept in mind that, as with all survey studies, there may be other sources of error that can affect the results, such as coverage, nonresponse, and measurement error. Of course, this is just one evaluation, however important it is.
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