The top 15 cities in the world for startups
San Francisco is a marvel of the West Coast, standing as a beacon of innovation and entrepreneurship, especially when it comes to venture capital. The city is renowned for attracting founders from all corners who aim to make a name for themselves in the tech industry.
While the COVID-19 pandemic brought unprecedented shifts in work culture and threatened to disrupt San Francisco’s tech supremacy, the city continues to attract the majority of venture capital investments.
According to PitchBook’s (MORN) Global VC Ecosystem Rankings, a staggering $430 billion in venture capital poured into startups based in San Francisco between 2018 and the second quarter of 2024. That amount is more than double what New York, which ranks second, received, followed by Los Angeles in third.
Globally, the U.S. dominates with a remarkable deal value of $1.2 trillion, outpacing China’s $545 billion and the U.K.’s $144 billion. And with over $300 billion in “dry powder” — cash waiting to be invested — the innovation potential is vast.
As San Francisco further solidifies its place in the tech world, much of that unallocated capital could support the ambitious projects of emerging AI startups.
Here’s a look at the world’s top 15 cities for startups, their deal values (the funding they’ve received), and their deal counts (the number of agreements signed).
1. San Francisco
Deal value: $430 billion
Deal count: 19,443
2. New York City
Deal value: $179.5 billion
Deal count: 13,441
3. Los Angeles
Deal value: $138.5 billion
Deal count: 9,527
4. Boston
Deal value: $114.3 billion
Deal count: 5,842
5. Shanghai
Deal value: $120.2 billion
Deal count: 6,995
6. London
Deal value: $99.7 billion
Deal count: 11,438
7. Tokyo
Deal value: $25.7 billion
Deal count: 5,522
8. Singapore
Deal value: $43.6 billion
Deal count: 4,494
9. Beijing
Deal value: $149.8 billion
Deal count: 7,966
10. Shenzhen
Deal value: $41.8 billion
Deal count: 4,795
11. Seoul
Deal value: $74.9 billion
Deal count: 6,171
12. Philadelphia
Deal value: $26.6 billion
Deal count: 3,261
13. Paris
Deal value: $33.1 billion
Deal count: 3,557
14. Washington, D.C.
Deal value: $43.4 billion
Deal count: 2,637
15. Denver
Deal value: $26.9 billion
Deal count: 2,414
