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CEOWORLD magazine - Latest - Special Reports - Ranked: World’s Most Startup-Friendly Countries, 2024

Special Reports

Ranked: World’s Most Startup-Friendly Countries, 2024

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The results are in, and the United States has been named the most startup-friendly country in the world. India comes in at 5th place, with Israel taking the 4th spot, Canada ranking 3rd, and the United Kingdom coming in 2nd. The rankings were determined by CEOWORLD magazine’s annual assessment of a country’s competitiveness and capabilities in a scientific and technical-focused economy.

The United States has maintained its position as the top-ranked country for startups due to several factors, with its research and development (R&D) capacity being key among them. The country has a high rate of startups and an active angel and venture funding industry. It’s worth noting that the U.S. is also recognized for its focus on building a knowledge-based economy. The Startup Ecosystem Ranking by Magazine evaluates 62 countries across five categories, including human capital investment, research and development, entrepreneurial infrastructure, technical workforce, and policy dynamics.

The top 10 countries in the world, in no particular order, are the United States, the United Kingdom, Canada, Israel, India, Germany, Poland, Malaysia, Sweden, and Denmark.

World's Most Startup-Friendly Countries, 2024

RankCountryScoreHuman Capital InvestmentResearch & DevelopmentEntrepreneurial InfrastructureTechnical WorkforcePolicy Dynamics
1United States928488928784
2United Kingdom918387918683
3Canada908286908582
4Israel898185898481
5India888084888380
6Germany877983878279
7Poland867882868178
8Malaysia857781858077
9Sweden847680847976
10Denmark837579837875
11Switzerland827478827774
12France817377817673
13Singapore807276807572
14Australia797175797471
15China787074787370
16Estonia776973777269
17Ireland766872767168
18Russia756771757067
19South Korea746670746966
20Spain736569736865
21Finland726468726764
22Netherlands716367716663
23Japan706266706562
24Lithuania696165696461
25Austria686064686360
26Portugal675963676259
27Italy665862666158
28Czech Republic655761656057
29Belgium645660645956
30Romania635559635855
31United Arab Emirates625458625754
32Greece615357615653
33Indonesia605256605552
34Slovakia595155595451
35Norway585054585350
36Latvia574953575249
37New Zealand564852565148
38Malta554751555047
39Philippines544650544946
40Croatia534549534845
41Argentina524448524744
42Brazil514347514643
43Ukraine504246504542
44South Africa494145494441
45Chile484044484340
46Turkey473943474239
47Mexico463842464138
48Bulgaria453741454037
49Hungary443640443936
50Thailand433539433835
51Iceland423438423734
52Luxembourg413337413633
53Slovenia403236403532
54Hong Kong393135393431
55Iran383034383330
56Cyprus372933373229
57Serbia362832363128
58Tunisia352731353027
59Kuwait342630342926
60Saudi Arabia332529332825
61Qatar322428322724
62Vietnam312327312623

General Methodology on the CEOWORLD magazine’s Most Startup Friendly Countries In The World, 2024 Rankings. The rankings are based on five major metrics of a country’s competitiveness and capabilities. The overall Score (100%) is the sum of the following:

1) Human Capital Investment: This looks at how much money is (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 do they make 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 2024? We asked our respondents to choose five countries each and rank their selection in order from 1-10, No. 1 being their choice of the best economy in the world for 2024. The No one choice of each respondent was awarded 10pts, No two given 9pts, down to 1pt for their No ten 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 January 12 and March 19, 2024. The top-ranked economy receives 100 points.

The rankings result from a rigorous analytical exercise incorporating multiple data sources. Detailed survey data and information were collected directly from 194,976 individuals across 256 data points. We analyzed over 130 economies during the data collection process.

The overall score is a numerical score 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.


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CEOWORLD magazine - Latest - Special Reports - Ranked: World’s Most Startup-Friendly Countries, 2024
Despina Wilson
I am a senior editor and data journalist at CEOWORLD magazine. My job involves using infographics to report on news topics related to business and policy, with a global perspective. I hold a master's degree in journalism and have worked for newspapers and reporting projects in both the US and the UK, giving me a unique transatlantic perspective. I believe that data can enhance coverage of all news topics. As a contributor, I plan cover a wide range of issues, such as gender equality, climate change, labor, and immigration, using relevant statistics and insightful visualizations.

Email: despina@ceoworld.biz