According to 2024’s Global Start-up Ecosystem Report published by the US research firm Startup Genome, Tokyo is 10th in the global ranking of the best cities for start-ups. This is a significant rise from 15th place last year, and the first time since 2021 that a Japanese city has made it into the top 10.

Behind this rise in the rankings is an increase in the number of medium- to large-sized IPOs with a market capitalization of JPY20 billion or more at initial listing on the TSE Growth Market. In particular, the stable market for start-up exits was recognized.

The ranking is made up of five categories, with Tokyo pushing up the rankings due to improvements in the 'performance' and 'market reach' indicators.

Asia generally saw an increase in the rankings, with Singapore, Beijing, and Seoul also making the top 10.