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A San Francisco-based research and advisory firm specializing in startup ecosystems has named Houston as a top ecosystem city in the world for startups.
Startup Genome in its Global Startup Ecosystem Report 2021 ranked the city number 19 among the top 100 startup ecosystems in the world. Mumbai, India, is No. 1 emerging startup ecosystem cities in the world with Houston ranking number four in North America behind Miami, Detroit, and Portland.
In the first six months of 2021, startups in Houston raised more than $1 billion, outpacing all past full year rankings.
"Venture capital invested in Houston startups has nearly quadrupled since 2016," according to a recent Houston Exponential report. "The sustained level of progress we've seen in startup formation and growth over the past four years shows that Houston has what it takes to build a vibrant, healthy innovation economy with an emphasis on equity."
The city recently achieved its first unicorn entity, a company valued of over $1 billion, named HighRadius, which the company announced early last year after raising $125 million in its series b investment round, according to the Houston Exponential report.
Outside of Houston, cities in Texas that were mentioned on the list were Austin, which ranked 20th worldwide as opposed to 19th the year before, and Dallas remaining at 31 on the firm’s report.