The votes are in, people and the most startup-friendly country in the world is … (Drum roll, please.)
It’s the United States. Sorry, India. You’re 5th — behind 4th-ranked Israel, 3rd-ranked Canada, and second-ranked the United Kingdom. That’s according to CEOWORLD magazine’s “most startup-friendly countries in the world” rankings, an annual assessment of a country’s competitiveness and capabilities in a “scientific and technical-focused” economy.
The United States secured its top spot for a number of reasons, its research and development (R&D) capacity key among them. America’s strengths include a very high rate of startups, robust angel and venture funding. It’s important to note that the U.S. gets high marks for “building its knowledge economy.” Magazine’s Startup Ecosystem Ranking ranks 62 countries across five categories: human capital investment; research and development; entrepreneurial infrastructure; technical workforce; and policy dynamics.
The top five most startup-friendly countries in the world remain the same since 2017, but their order has changed. Poland is a newcomer to the top ten, jumping six spots from 2018. Sweden has fallen two places to 9th and Malaysia has slipped one position to 8th.
The top ten countries overall are the United States, the United Kingdom, Canada, Israel, India, Germany, Poland, Malaysia, Sweden, and Denmark.
Most Startup Friendly Countries In The World, 2021:
Most Startup Friendly Countries In The World, 2011
|Rank||Country||Score||Human Capital Investment||Research & Development||Entrepreneurial Infrastructure||Technical Workforce||Policy Dynamics|
|31||United Arab Emirates||62||54||58||62||57||54|
General Methodology on the CEOWORLD magazine’s Most Startup Friendly Countries In The World, 2021 Rankings. The rankings are based on five major metrics of a country’s competitiveness and capabilities. Overall Score (100%) is the sum of:
1) Human Capital Investment: This looks at how much is money (invested) in developing and nurturing tomorrow’s workforce.
2) Research and Development: This examines a country’s research and development (R&D) capacity to see if it has the facilities that attract funding and create innovations that could be commercialized and contribute to economic growth.
3) Entrepreneurial Infrastructure – This determines the success rate of converting research into commercially viable products and services.
4) Technical Workforce – This composite measures the relative presence of high-end technical and scientific talent.
5) Policy Dynamics – This evaluates technology outcomes to assess how effective policymakers and other stakeholders have been at parlaying regional assets into regional prosperity.
Survey disclosure: How they made their choices?
Our 194,976 respondents were sent a long list of more than 256 indicators drawn from leagues on every continent and asked one simple question: which countries are the most friendly in the world in 2021?
We asked our respondents to choose 5 countries each, and rank their selection in order from 1-10, No1 being their choice of the best economy in the world for 2021.
The No 1 choice of each respondent was awarded 10pts, No 2 given 9pts, down to 1pt for their No 10 choice. All the votes were added together to give a raw score. An economy needed to receive votes from at least 500 respondents to qualify for the list.
We are very grateful to our respondents for taking part, and none have been paid for participating in this project. To allow our respondents the freedom to express their opinions, individual voting records will be anonymized in the full breakdown of scores.
The ranking relied on surveys from 194,976 people from 95 countries in the Americas, Asia, Europe, and Africa.
Of those, more than 194,976 were “informed elites” (college-educated, middle- or upper-class individuals). More than 54,000 were business leaders, defined as senior leaders in a company (with 500 or more employees). The rest belonged to the general public. The rest belonged to the general public.
The survey involved respondents from 95 countries and was conducted between September 12 and December 19, 2018.
The top-ranked economy receives 100 points.
The rankings are the result of a rigorous analytical exercise, incorporating multiple data sources.
Detailed survey data and information collected directly from 194,976 individuals, across 256 data points. We analyzed over 130 economies during the data collection process.
The overall score is numerical scores given to the economies based on respondents’ feedback — measuring a country’s competitiveness and capabilities in a “scientific and technical-focused” economy. Total scores are out of 100. The margin of sampling error for the full sample of 194,976 respondents is plus or minus 1.3 percentage points.
In addition to sampling error, one should bear in mind that as in all survey research, there are possible sources of error—such as coverage, nonresponse, and measurement error——that could affect the results. This is only one assessment, of course, even if an important one.