Miami ranks 22nd in Startup Genome’s global ecosystem ranking, but heed this AI warning sign

Nancy DahlbergNancy DahlbergJune 12, 2025

Here are some more global highlights and insights of this year’s report:

• AI & Big Data surged, becoming the fastest-growing sub-sector with a 33% increase in VC funding, now commanding 40% of all global VC investment, up from 26% in 2021.

• The global disparity in Ecosystem Value change is stark: Asian and sub-Saharan African ecosystems saw a decrease of 17%, while Latin America experienced an aggregate drop of 45%, Europe 24%, MENA 22%, Oceania 19%, and North America 18%.

• São Paulo remains Latin America’s only Top 40 ecosystem at #37, leading the region in overall performance. Meanwhile, Mexico City continues to lead among emerging ecosystems.

• Across last year’s Top 40 ecosystems, the total count of large exits decreased by a troubling 31%. Those bucking this trend were primarily Asian ecosystems – Shenzhen, Tokyo, Seoul, and Shanghai – together with Paris and Philadelphia. 

• Speaking of Philadelphia, the City of Brotherly Love jumped 12 places to #13, the most significant movement of all North American ecosystems in the Top 40.

• Hong Kong made the most significant improvement of all Top 40 Global Startup Ecosystems, jumping up from the Emerging Ecosystems ranking in 2024 to #27 globally this year.

• Paris and Madrid were the only European ecosystems in the Top 40 to improve rankings, with Paris rising to #12 following a surge in unicorns and early-stage deals. Though still Europe’s top performing ecosystem, London dropped one place to the #3 globally – it was tied with New York City for #2 from 2020-2024. 

• Riyadh had the most significant growth in MENA, moving up from the 51-60 range in 2024 to the 21-30 range among the emerging ecosystems, fueled by major growth in exits over $50 million.

“The lesson is unmistakable: The bold change the world. Ecosystems that move rapidly to develop AI-specific strategies will reap the greatest rewards. Those that hesitate risk being left behind,” said Jonathan Ortmans, president of the Global Entrepreneurship Network.

Download the 2025 Startup Global Ecosystem Report (GSER) here.