Ten Years of Data on Growing a Startup Ecosystem

Ten Years of Data on Growing a Startup Ecosystem

Author

Peter Walker

|

Read time: 

1 minute

Published date: 

October 9, 2025

Forget chasing the top 3—Bay Area, NYC, and Boston dominate. Austin is the clear success story among rising ecosystems, offering a replicable model for others.

LinkedIn: Ten Years of Data on Growing a Startup Ecosystem

What 10 years of data tells us about growing a new startup ecosystem:

𝟭) 𝗙𝗼𝗿𝗴𝗲𝘁 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝘁𝗼𝗽 𝟯

It's Silicon Valley, New York, and Boston. That's the medal podium for a full decade, with the Bay Area holding the top spot in increasingly dominant fashion lately.

𝟮) 𝗔𝘂𝘀𝘁𝗶𝗻 𝗮𝘀 𝗮 𝗺𝗼𝗱𝗲𝗹

Austin is a major success story in venture ecosystem terms. It was on the back half of the top 10 a decade ago, but strong investment over the prior 5 years has the city in spot number 4 for 2025. The ecosystem sits on twin pillars of SaaS and Hardware, but shows up across many sectors.

𝟯) 𝗠𝗶𝗮𝗺𝗶 𝗮𝘀 𝗮 𝘄𝗮𝗿𝗻𝗶𝗻𝗴

Miami shot up to prominence (top 5!) on the back of a fintech/crypto boom in 2022-era. But as that particular bubble popped, Miami has fallen back in the ranks. Maybe the ecosystem needs more than one pillar industry?

𝟰) 𝗪𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗿𝗶𝘀𝗲𝗿 𝗰𝗼𝗺𝗲 𝗳𝗿𝗼𝗺?

Chicago. Philly. Atlanta. Salt Lake. Research Triangle. Dallas. All are playing in the 10-15 spaces. Which of them can cement status in the top 10 more permanently?

#seed #seriesA #founders #startups

Peter Walker
Author: Peter Walker
Peter Walker runs the Insights team at Carta, focused on discovering key data and narratives across the private capital ecosystem. In a former life, he was a marketing executive for a media analytics startup and led the data visualization team at the Covid Tracking Project.

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