Hungarian capital is among the Top 25 European Ecosystem in Affordable talent

Budapest is celebrated in the world’s premier report on startup and economic enrichment – ranking as a Top 25 European Ecosystem in Affordable Talent

The 2023 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was launched today at The Next Web Conference in Amsterdam. The GSER is powered by the world’s most comprehensive and quality-controlled dataset on startup ecosystems.  Informed by data on 3.5 million startups across 290+ global ecosystems, the report provides compelling new insights and deep knowledge about startup trends around the world. Contributions from expert thought leaders and local key players further enrich the report’s extensive, evidence-based findings, which are the product of over a decade of Startup Genome’s independent research and policy work.

Express Innovation Agency has partnered with Startup Genome to recognize Budapest’s entrepreneurial ecosystem in the #GSER2023 —

• Budapest created $1,788,667,218 in ecosystem value from Jul 01, 2020 to Dec 31, 2022, a positive change of 13.67 percent  since the previous GSER period. Ecosystem value is a measure of economic impact, calculated as the value of Exits and startup valuations.
• Top 25 European Ecosystem in Affordable Talent — measures the ability to hire tech talent
• Top 40 European Ecosystem and Top 35 European Emerging Ecosystem in Funding — measures innovation through early stage funding and investor’s activity
• The AI, Big Data, & Analytics, Fintech, and Life Sciences sectors are highlighted for their density of talent, support resources, and startup activity
• The skilled workforce, government incentives, and startup friendly taxation are cited as reasons a startup should move to Budapest

“Startup Genome is honored to work with Express Innovation Agency in accelerating ecosystem growth, boosting job creation and uncovering key insights for decision makers to maximize economic impact in Budapest,” shares JF Gauthier, Founder & CEO of Startup Genome. “We are excited about the future of startup innovation in the region.”

GSER 2023 ranks the top 30 as well as 10 runner-up global ecosystems and includes a top 100 ranking of emerging ecosystems. It also highlights startup communities from a regional perspective, separately ranking ecosystems in Africa, Asia, Europe, Latin America, MENA, North America, and Oceania. Key themes of this year’s report include inflation, AI  regulation, talent attraction, global VC funding, and a wide range of market sub-sector analyses.

“Hungary is well known for its tech talent and deep tech expertise, and as it gets paired with sales and marketing talent from the West, we get a powerful combination. As an undervalued ecosystem, there’s room for growth, which also means opportunities for startups, investors, and ecosystem players alike.” — Péter Balogh, tech angel and entrepreneur

The GSER is created in partnership with the Global Entrepreneurship Network, Dealroom, and Crunchbase. The 2023 GSER provides invaluable insights and guidance on how to promote thriving startup communities — the #1 engine of job creation and economic growth. Discover how 140 entrepreneurial ecosystems compare and view the full report here.

Source: Press Release