Asia’s Innovation Powerhouse: Startup Ecosystems on the Rise in GSER 2025

Asia continues to solidify its position as a global innovation engine, with ecosystems across the continent making major strides in the Global Startup Ecosystem Report 2025 (GSER 2025). From mature hubs like Beijing and Bengaluru-Karnataka to fast-growing emerging players like Wuxi and Jakarta, Asia’s startup economies are demonstrating remarkable momentum, resilience, and global ambition.

This year’s report showcases how a diverse range of Asian ecosystems are not only climbing the rankings, but also reshaping the global landscape of entrepreneurship. With gains in unicorn creation, early-stage funding, exit growth, and market reach, Asia is proving that its next generation of startup hubs is ready to lead on the world stage. In this post, we highlight the biggest movers and success stories from across the region — and what they signal for the future of global innovation.

• 12 Asian ecosystems are in the Top 40.
• Hangzhou moved up 13 spots from GSER 2024, ranking as the #23 Global Startup Ecosystem. The ecosystem’s large exits over $50 million doubled in the GSER 2025, while exits over $1 billion increased by 25%.
• Shenzhen moved up 11 spots from GSER 2024, now ranking as the #17 Global Startup Ecosystem in a tie with Washington, D.C. Despite a global decline, exits over $50 million increased by 50% and exits over $1 billion doubled in GSER 2025, with Robotics startup UBTECH being the top-valued exit at $4.8 billion.
• In a tie with Boston at #5, Beijing is the top-ranked Asian ecosystem in the GSER 2025. Unicorn Moonshot AI is the ecosystem’s top valued at $5 billion.
• Bengaluru-Karnataka moved up 7 spots in the GSER 2025, backed by four major billion dollar exits and a 5% increase in India’s GDP.
• Hong Kong moved from the Top 100 Emerging Ecosystem rankings in 2024 to the #27 Global Startup Ecosystem in 2025, thanks in part to Bitcoin startup BitFuFu’s $1.5 billion exit and an increase in the number of patents produced.
• Guangzhou’s exits over $1 billion increased by 200%, with autonomous driving startup WeRide the top valued at $4.6 billion. Early-stage funding deal count increased by 36%, contributing to the ecosystem’s #36 global ranking
• Mumbai, the #40 Global Startup Ecosystem, ideaforgetech.com had an exit of $340 million with unmanned aerial vehicle company IdeaForge, and grocery delivery startup Zepto reached a $5 billion unicorn valuation.
• Seoul is the #1 Global Startup Ecosystem in Knowledge factor, measuring innovation through research and patent activity.

Bengaluru-Karnataka - #6

“Bengaluru’s dynamic startup ecosystem, backed by strong government support, global capital, and rising sectors like manufacturing, is propelling Karnataka onto the global map as a premier destination for innovation and entrepreneurship.” — Prashanth Prakash, Chairman of the Startup Vision Group for the Government of Karnataka and Founding Partner, Accel

Hong Kong - #9

“At HKSTP, we are committed to driving the success of innovators by empowering them to accelerate innovation from Hong Kong to the world, creating a global impact. We believe that technological advancement is unstoppable. With AI now being applied across all facets of society, we anticipate exponential growth in AI-driven innovation throughout Asia in the near future.” — Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation

Kuala Lumpur - #16

“Kuala Lumpur’s rise in the GSER 2025 Emerging Ranking reflects Malaysia’s growing global startup competitiveness, driven by a whole-ecosystem approach to empower talent, expand strategic funding, and strengthen global connectivity.” — Norman Vanhaecke, CEO of Cradle