Startup Global Comparison
The achievement of a world without borders is a usual mindset for an entrepreneur. Cross-cultural opportunities might come as a far-fetched ambition for a starter. But considering the global expectancy of most business-owners, its always second nature to keep the possibilities at bay right? For those who are inclined to the business world, we all know that Silicon Valley is a beacon for entrepreneurship across the globe. We can readily say “it’s part of the American DNA”. But how about the rest of the world? How are they flourishing in a global point of view? How do they get the attention and what is the manner of their activities?
Every country has different needs. Depending on the level of supply and demand, the entrepreneurial realms are heading towards a challenging take off. Because whichever way you look at it, innovation is the driving force of history and a trademark for global revolution. This article aims to compare countries in their quest for groundbreaking results. These connections are relevant in order to identify the transnational fluctuation and address the parts that need improvement.
Differentiation, Governmental Support & the art of Entrepreneurialism
The keys to a startup success as defined by these sources (startup genome,telefonica, inc.com) are: Differentiation, Governmental Support & the art of Entrepreneurialism I have to agree with that because in the absence of these main factors, no matter how brilliant the idea might be, if it doesn’t have the support of the above mentioned then it has a varying chance of success.
So beforehand, let’s see the Top 20 Entrepreneurial Hot Spots around the globe:
*US is the home to 6 of the top startup ecosystems, published on 2012
1. Silicon Valley, US
2. Tel Aviv, Israel
3. Los Angeles, US
4. Seattle, US
5. New York City, US
6. Boston, US
7. London, UK
8. Toronto, Canada
9. Vancouver, Canada
10. Chicago, US
11. Paris, France
12. Sydney, Australia
13. Sao Paulo, Brazil
14. Moscow, Russia
15. Berlin, Germany
16. Waterloo, Canada
17. Singapore, Singapore
18. Melbourne, Australia
19. Bangalore, India
20. Santiago, Chile
In addition, these countries are included in “500 blowing startups“ since 2010
(in no particular order)
Canada, US, Mexico, Panama, Chile, Brazil, Netherlands, UK, Austria, Croatia, Estonia, Romania, Singapore, China, Japan, Taiwan, Hong Kong, Australia. So we find the startups through:
40% Mentor Network
20% Angel List
20% Events & community
10% Blogs, Social Media
10% other VC’s & Investors
Top Performers by Region:
#1. US at historical highest
#4 UK leads Europe
#20 Chile tops the South & Central America & Caribbean
#21 UAE tops the Middle East & North Africa
#53 South Africa leads Sub-Saharan Africa
So let’s say for example you want to head start your own IT Company. According to survey, this is
How much it would cost to run a start-up for a simple web-developing company:
Zurich, Switzerland- $314,640
Sydney, Australia – $310,416
New York, USA- $296,592
San Francisco – $263,088
London – $240,708
Paris – $205,200
Mumbai – $71,184
Manila – $45,464
Priority International Markets includes:
1. East Asia
2. India & South Asia
3. Brazil & Latam
The Global Entrepreneurship Index mostly conducted by Global Entrepreneurship Monitor (GEM) measures by surveys and interviews to respective experts on the field.Mostly varied on the innovation-driven stage that allows implications to be gathered and categorized. This is the list of countries as ranked according to performance:
The world is at 52% of its entrepreneurial activity. 100++ economies use electronic systems for services ranging from business registration to customer clearance to court filings. 40 economies from 2005 open and grew to 105 in 2012.
The Biggest 1-year progress involves:
12% growth in Iran
11% growth in Latvia
10% growth in Greece
Meanwhile, 9% decrease was noted for (Nordic Countries)
Denmark, Finland, Sweden & Norway over the past 7 years.
So what countries are globally active on the web?
13% North America
10% South America
3.3% Middle East
During 2005- 2012, doing business got easier in the African continent. The top 5 frontier countries that improved are:
1. South Africa
From 2009 to 2011, 39 economies made a legal chance toward gender parity leading to more than half a billion. Women are now having brighter prospects to start a business or get a job. Only 38 out of 141 economies set equal rights for men and women in 45 key areas. Still women continue to face legal restrictions related to navigating the business market. Speaking of gender equality, 232 million women live in economies where they cannot get a job without their husband’s permission.
Which then led to some serious demand for economic reforms. 108 economies implemented 201 reforms in 2011-2012.
Percentage of economies with at least one positive reform:
100% – Eastern Europe (Non-EU)
83%- Central Asia & Caucasus
70%- OECD high-income Non-EU
61%- sub-Saharan Africa
59%- European Union
53%- Central & South America
50%- Middle East & North Africa
46%- East Asia & Pacific
38%- South Africa
If you must know, 45 of 46 sub-Saharan improved the economy’s regulatory environment over the past 8 years and Rwanda ranked as #1.
If you’re pondering how long does it take to start a business in other countries, here’s how: *Time (average number of days)
New Zealand- 1 day
Singapore- 3 days
Saudi Arabia – 5 days
US- 6 days
Japan – 10 days
UK- 13 days
Ireland- 13 days
India- 30 days
China- 38 days
To give you an overview in terms of Ease in doing business, the shortened ranking is as follows:
Saudi Arabia #13
By year 2020, 1 Billion of the overall population will start doing their business. In 2013, there are 400 million entrepreneurs in the world. That means
1 out of 19 is an entrepreneur and 2.3 out of 19 will be an entrepreneur.
You might be wondering if they aren’t entrepreneurs then what are they doing?
55% work a regular job
34% are kids and elders
11% (95% living in a developed country) *lived outside the economy (no education or not in need of job belonging to elite families)
It’s predicted that by 2020, 7 billion people will be jobless while only 2 billion will be employed. Now it depends on how you take that information whether the glass is half-empty or half-full.
Moving on to brighter reports
The Careers in Demand include:(*Best new jobs with projected growth)
32.4% Video Game Designer
18.7% Data Scientist
16.4% Solar Sales Consultant
13.6% Social Media Manager
8.8% Wind Turbine Mechanical Engineer
And currently the job market seeks 140,000-190,000 Data Scientist to fill open positions. Also supplementing the prerequisite of 1.5 million data literate managers that needs to be retrained or hired to meet updated needs. The job market demands mainly:
90% Bachelor’s Degree
In relation, 80% of people feel unlocking creativity is critical to economic growth. 39% of global respondents describe themselves as being creative. 1 out of 4 believe they are living up to their creative potential. 52% of Americans say they are creative. 75% respondents said they are under pressure to be productive rather than creative in work.
The only nation in G20 that leads the US in innovation is Japan according to Ernst & Young. Globally, Japan is seen as the most effective country followed by the US
(Source: adobe state of create study)
What are your chances out there? Have you already started on contemplating your pros and cons as an aspiring entrepreneur? I just have to say that the qualms people have in the US or in any developed country for that matter are often irrelevant in comparison to the struggles people in other countries face. You’d be surprised to learn that there’s still more places out there that hasn’t been reached out to and technology is still strange for them. As quoted by
Jack Dorsey (founder of Twitter) “The future is already here. It’s just not distributed evenly.”
This is where Entrepreneurship comes in. It is very crucial for understanding economic development.