Britain overtakes India yet again
British startup ecosystem reclaims its coveted 3rd spot in the top funded ecosystem after briefly losing it to India in 2021.
British startups have so far raised $15 billion in 2023 while India barely managed to raise just $7.8 billion amidst extreme difficulties. Britain is behind only US and China. UK had briefly lost its position as the 3rd most funded ecosystem in 2021 to India when the former raised $41 bn while the latter raised $42 billion. However it reclaimed that position the next year itself in 2022 by raising $31 bn while India witnessed a 40% drop in its funding to settle at $25 bn.
With its strong focus on innovation and technology, conducive govt policies and most importantly a high paying market, Britain continues to keep India away from the coveted 3rd spot. The American investors constitute 37% of the British investments. British startups are on its way to achieve this year’s target of $18 bn which is still a 40% drop from the previous year’s funding. In the 3rd quarter of the year British startups raised $4.98 bn funding which is a 14% increase from the previous quarter. The 3rd quarter witnessed more participation from the American investors than the local British sources. This is a sign of growing confidence amongst foreign investors about the British startups and recovery of their economy.
The British Startup ecosystem is now worth $968 billion according to Startup Genome which makes it the 3rd most valuable startup ecosystem only behind US and China.
