The Evolution of Startup Ecosystems: A Comparative Study of Incubation Center Models Worldwide

Abstract

This paper is a study on the most effective incubation center models around the globe in promoting the growth and success of startups. To be able to take a closer look at various incubation centers in different regions such as the US, UK, Australia, Singapore and India, metrics of three categories; startup growth rate, survival rate and overall outcome score were used as the basis for the analysis. According to the official reports and reliable databases, we conducted a study on the sample of accelerators and incubators that are the most prestigious. The statistical tests show that the incubation models are significantly different in all the regions. The data presents that Bengaluru and Mumbai, two tech hubs of India are now exhibiting the fastest growth (88-90%) and survival (78-80%) rates and the total scores are (9.5-9.7 out of 10). Along with those, the growth rates of the top performers on a global level are as follows: Silicon Valley (85% growth rate, 75% survival rate, 9.8 scores) based on the US ecosystem, and Sydney Incubator (9.2 scores) representing Australia. While Singapore is an example of LaunchPad and Block 71, which are strong growth, they fall behind in overall program outcomes. The UK incubators London Tech Hub and Innovation Hub also, have certain scores that are near perfect (8.6-9.4 scores) but, they are somehow behind Indian incubators in metric performance. The analysis with the aid of massive data-based understanding has demonstrated what the best strategies are for the policymakers who want to create strong incubation infrastructure and programs. The main disadvantage of this method is that it does not provide us with detailed demographic data and information about the ecosystem. But findings show that for the time being Indian software parks can be regarded as optimum hubs for startups that are looking for growth and success.