population: 212.6 million

GDP (in USD): $3.967 trillion (2023)

Human Development Index: 0.802, ranking 67th globally

Global Innovation Index: 50

Number of Startups: 16,000+ (2024)

number of unicorns: 24

Leading startup sectors: Fintech, Edtech, Agritech and New Food

Investor pool and funding: $119B

Active innovation agencies and incubators: Startup Brasil, Google For Startups Accelerator Brazil, Gupy, Loft

Brazil is the largest startup ecosystem in Latin America and one of the largest in the world. The number of startups in Brazil has been growing consistently in recent years.

Brazilian startups are diversifying, with notable growth in sectors such as technology, fintech, healthtech, edtech, agrotech, and e-commerce.

The Brazilian government has been investing in initiatives to support startups, such as the Conecta Startup Brasil program (Conecta Startup Brasil) and the Centelha Program (Centelha Program), which provide financial resources, mentorship, and connections with investors.

The Brazilian startup ecosystem is increasingly globalized, with several startups attracting international investments and expanding their operations to other markets, especially in Latin America, Europe, and the United States. The innovation infrastructure in Brazil is becoming more robust, with cities like São Paulo, Florianópolis, Belo Horizonte, Recife, and Campinas standing out as hubs for innovation and entrepreneurship.

Open banking, artificial intelligence, 5G, and blockchain are among the most promising technologies in Brazil’s startup ecosystem, with many companies exploring these fields. Additionally, there is a growing demand for sustainable solutions and social-environmental impact, with several startups focusing on innovations that help address issues such as climate change and social inequality. Among the key promoting agents are BNDES (National Bank for Economic and Social Development) and Finep (Funding Authority for Studies and Projects), which provide credit lines, financing, and support for innovative projects.

The Brazilian Service for Support to Micro and Small Enterprises (Sebrae) offers support, training, consultancy, and resources for small entrepreneurs at various stages of development. The National Association of Entities Promoting Innovative Enterprises (Anprotec) also plays a crucial role.

Brazilian universities, such as USP, UNICAMP, UFMG, among others, play a significant role in fostering research and development, as well as promoting entrepreneurship programs like incubators and innovation centers. CNPq (National Council for Scientific and Technological Development) encourages innovation and entrepreneurship through grants, awards, and projects.

ABStartup (Brazilian Startup Association) represents and supports startups, working on legal, fiscal, and public policy matters, while Anjos do Brasil is another network that connects angel investors with startups, fostering entrepreneurship and innovation.

Among the key promoting agents are BNDES (National Bank for Economic and Social Development) and Finep (Funding Authority for Studies and Projects), which provide credit lines, financing, and support for innovative projects.

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population: 141.6 million

GDP (in USD): 2.01 trillion USD

Human Development Index: around 0.821, ranking 56th globally

Global Innovation Index: 59

Number of Startups: 25,800+

Leading startup sectors: IT, Fintech, Edtech, Healthtech, and Transportation

Investor pool and funding: $67.3 billion

Active innovation agencies and incubators: Ministry of Education and Science, Ministry of Industry and Trade, Skolkovo Foundation, Sberbank-500, MTS StartUp Hub

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Population: 1.4 billion

GDP (in USD): $18.28 trillion

Human Development Index: 0.788, ranking 75th globally

Global Innovation Index: 11

Number of Startups: 95,600+

number of unicorns: 245

Leading startup sectors: E-commerce and Retail, Transportation, Hardware and IoT (Internet of Things), Electric Vehicles, Artificial Intelligence (AI), Fintech, and Health Technology

Investor pool and funding: $1.02 trillion

Active innovation agencies and incubators: Tencent WeStart, Innovation Valley, Innoway Global Incubator, Zeroth.ai

Reference Material:- Click here to know more

population: 64 million

GDP (in USD): $863 billion (2023)

Human Development Index: 0.717, ranking 110th globally

Global Innovation Index: 69

Number of Startups: 31,900+

number of unicorns: 2

Leading startup sectors: Fintech, AI, Big Data & Analytics, Proptech

Investor pool and funding: $62.3 billion USD

Active innovation agencies and incubators: CortexHub, LaunchLab, Riversands Incubation Hub, Fetola, Multichoice Innovation Fund

In 2024, the South African startup ecosystem was ranked 52nd globally.

South Africa is home to over 600+ startups spanning from energy to the fintech industry.

In 2024, the venture capital investments surpassed $164 million for the first time with a shift to larger deals with fewer companies.

In December 2024, South Africa had its first unicorn.

South Africa’s startup ecosystem is more than Fintech, with more diversity from key areas such as climate tech, mainly driven by solar energy and mobility startups, ICT, healthcare, edtech, agriculture, advanced manufacturing, and mining.

Deeptech is emerging as the next frontier in South Africa’s startup ecosystem, but barriers remain to growth and scale.

The investment ecosystem is performing despite a hard regulation environment. (.)

The private sector plays a big role in driving startup investments in South Africa.

Reference Material and Relevant Links:

• গো-টু-মার্কেট গাইদ
• South African Startup Ecosystem Report 2022
• Tech Entrepreneurship Ecosystem in South Africa
• Doing Business in South Africa
• Startup Act South Africa
• Innovation Bridge Portal
• Doing Business in South Africa Guide - Baker McKenzie
• Doing Business in South Africa Guide - Bowmans Law
• Doing Business South Africa

Population: 107 million (2023)

GDP (in USD): US$345.87 billion

Human Development Index: 0.728, ranking 105th globally

Global Innovation Index: 86

Number of Startups: 7,300+

number of unicorns: 2

Leading startup sectors: E-Commerce, Fintech, E-Health

Investor pool and funding: $14.7 billion

Active innovation agencies and incubators: Icealex, Startups of Alex. StartEgypt. Misr Digital Innovation

Egypt leads as the top startup ecosystem in Northern Africa.

Cairo, Egypt's capital, secured the 3rd position in the MENA region's startup ecosystem rankings.

In 2024, Egyptian startups raised a total of $329 million across 78 funding rounds, maintaining a leading position in Africa's startup landscape.

There were approximately 80.75 million internet users in Egypt at the beginning of 2023.

Reference Material and Relevant Links:

• Supporting entity: ISF
• Legal/ Company's registration /investment opportunities: GAFI
• Why Egypt
• Ecosystem mapping
• Visa to Egypt

population: 133.89 million

GDP (in USD): 145.03 billion

Human Development Index: 0.49, ranking 186th globally

Global Innovation Index: 130

Number of Startups: 1,800+

Number of unicorns: N/A

Leading startup sectors: E-Commerce, Fintech, Agritech

Investor pool and funding: $1.06 billion

Active innovation agencies and incubators: BIC Ethiopia, Iceaddis, SNNPRS ICT Business Incubation Center

population: 86.63 million

GDP (in USD):$478.1 billion

Human Development Index: 0.780, ranking 78th globally

Global Innovation Index: 64

Number of Startups: 3,500+

Number of unicorns: N/A

Leading startup sectors: Fintech, Insurance tech, Messaging, Networking and Communication

Investor pool and funding: $674 million

Active innovation agencies and incubators: Kermanshah Science and Technology Park, Urmia University Growth, Innovation, and Entrepreneurship Centre, Iran Association of Science Parks and Innovation Organizations

population: 11.08 million

gdp (in usd): $545.1 billion

Human Development Index: 0.937, ranked 17th globally

Global Innovation Index: 32

Number of Startups: 37,400+

number of unicorns: 11

Leading startup sectors: Real Estate, E-Commerce, Fintech, Oil and Gas, Healthcare

Investor pool and funding: $90.4 billion

Active innovation agencies and incubators: in5 Innovation Hub, Hub71, DIFC, Mohammed Bin Rashid Innovation Fund, Innovest Middle East

population: 280 million

GDP (in USD): $1.492 trillion (nominal; 2025 est)

Human Development Index: 0.713, ranked 112 globally

Global Innovation Index: 54

Number of Startups: 37,400+

number of unicorns: 11

Leading startup sectors: Fintech, E-Commerce, Transportation, Renewable Energy, Healthcare

Active innovation agencies and incubators: Gojek Xcelerate, Maloekoe Ventures, Indigo by Telkom Indonesia, Ideabox

population: 34.15 million

GDP (in USD): $2.112 trillion

Human Development Index: 0.875, ranking 40th globally

Global Innovation Index: 47

Number of Startups: 9.13k

Leading startup sectors: Information Technology, Mining and Metals, Energy, Real Estate, Transport and Logistics, Healthcare and Lifesciences

Active innovation agencies and incubators: Blossom Accelerator, Startup Avicena, HASSAD, Flat6 Labs, Riyadh TechStars Accelerator, BIAC Innovation Center