Beijing took the 2nd spot on the list of world's top 10 startup ecosystems in 2017, according to SparkLabs Group, a network of accelerators and venture capital funds.
Beijing rose dramatically to tie with Tel Aviv from eighth last year, thanks to growth in unicorns from nine to 25 as well as the capital's increasing number of talents in areas such as artificial intelligence.
Shanghai entered the list for the first time and was ranked 7th.
Eight metrics were taken into account for the ranking: funding ecosystem and exits, engineering talent, active mentoring, technical infrastructure, startup culture, legal and policy infrastructure, economic foundation, and government policies and programs.
Below is the full list of the world's top 10 startup ecosystems.
1 Silicon Valley
3 Tel Aviv
5 Los Angeles
6 New York City
Chinese government is going to make new ground in pursuing opening up on all fronts to build up strength for international economic cooperation and competition, with emphasis on boosting FDI in high-end manufacturing, services and environment-themed businesses. Welcome to invest in China!
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