Startups drive innovation, create jobs, and fuel economic growth by introducing disruptive technologies and business models. They are the engines of progress, often addressing unmet needs and reshaping industries.
The StartupBlink Global Startup Ecosystem Index ranks countries and cities based on the strength of their startup ecosystems. It evaluates factors such as the number of startups, access to funding, talent availability, regulatory environment, and infrastructure. A higher ranking indicates a more vibrant and supportive ecosystem for entrepreneurs.
StartupBlinck analysed 1 556 cities and 100 countries for this report.
Globally, the ecosystem grew by 10,3 %, the strongest regions are Middle East and Africa while Europe lags with 7,3 % growth. Central Europe grew 13 %, led by Istanbul (28,2 %), Ankara (69,8 %), Kraków (40 %) and Wroclaw (28 %). North Macedonia showed a 75 % growth of its Ecosystem, valued at 869,8 mio US$. Belgium grew 7,5 % with a value of 72,7 bil. US$ and Luxembourg 5,3 % with a 10 bil. US$ value.
How do our countries and comparable neighbors rank?
| Ecosystem Rank | Business Environment Rank | |
| Belgium | 23 | 16 |
| Luxembourg | 36 | 13 |
| North Macedonia | 70 | 51 |
| The Netherlands | 10 | 7 |
| Bulgaria | 40 | 18 |
| Serbia | 58 | 50 |
| Albania | 75 | 60 |
And the ranking of the cities shows
| Global Rank | |
| Amsterdam | 27 |
| Brussels | 75 |
| Ghent | 115 |
| Luxembourg | 167 |
| Antwerp | 217 |
| Leuven | 290 |
| Thessaloniki | 443 |
| Tirana | 450 |
| Skopje | 457 |
| Chisinau | 464 |
| Liege | 550 |
| Hasselt | 595 |
| Charleroi | 657 |
| Esch sur Alzette | 694 |
Belgium has kept its position for the last years, the growth is below the global average. The Business Environment index is higher than the Startup Ecosystem index, showing that strong business conditions are not yet fully reflected in startup outcomes. Belgium performs in the health-tech and software & data sector. Brussels and Ghent are the top cities, but centralization is relatively low.
Luxembourg has slipped to the lowest ranking since 2003, but with a population of less than 1 million, it is the highest ranked country in relation to its size. Same as Belgium, the environment index is higher but this has not yet reflected in startups, even so it ranks 8 in startup support. The strongest industry is FinTech.
North Macedonia is the fastest growing startup environment in Southern Europe. Also here, the higher Business environment index rank is not reflected in startup outcome. Only Skopje is ranked as city.
Native Teams, a Fintech platform created in 2020, raised 6,8 mill US$ in 2024 which was the largest Macedonian early-stage venture round. Their platform centralizes work payments, operations, employment and compliance in one tool built for local and global teams. They now claim 300+ employees and serve 3000+ customers in 95+ countries, the company has moved to London.
In many cases, countries should not focus so much on what they can do for startups. They should just try not to make things difficult for them.
Eli David Rokah, CEO of StartupBlink
How Countries Can Improve Their Standing?
To climb the ranks, countries can:
- Promote a Culture of Innovation: Celebrate entrepreneurial success, support risk-taking, and create platforms for networking and knowledge-sharing.
- Simplify Regulations: Reduce bureaucratic hurdles for starting and scaling businesses, and offer tax incentives for startups.
- Foster Collaboration: Encourage partnerships between startups, corporations, universities, and government agencies.
- Strengthen Education and Talent Pools: Invest in STEM education, upskill the workforce, and attract global talent through visa programs.
- Boost Digital and Physical Infrastructure: Develop high-speed internet, co-working spaces, and innovation hubs.
- Enhance Access to Funding: Create incentives for venture capital and angel investors, and simplify grant application processes.
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BMBC is listed as European partner of StartupBlink, actively supporting the growth of the startup ecosystem.
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