Start-up Atlas 2025: Where the World’s Most Well-Funded Start-ups Are Emerging
- Gisma University of Applied Sciences analyzes where most start-ups with at least €1 million in funding have been founded between May 2024 and June 2025
- The U.S. and San Francisco lead the global field, while Germany trails the UK among European countries
- Berlin ranks as Germany’s top start-up hub, followed by Munich and Hamburg
Major differences in global start-up activity
Potsdam, 14 July 2025 – Where are the most promising start-ups currently being launched? And which cities are attracting the greatest number of founders and investors? Gisma University of Applied Sciences (www.gisma.com) addresses these questions in its latest analysis as part of the Start-up Atlas 2025. The study is based on 577 companies listed in the Crunchbase database that were founded between 8 May 2024 and 10 June 2025 and have received at least €1 million in funding.
The U.S. clearly in the lead
The United States tops the international ranking with 267 of the 577 analyzed start-ups, accounting for 46.3 percent. China follows with 38 start-ups, the United Kingdom with 32, India with 21, and both Germany and France with 11 start-ups each. Canada, Singapore, and the United Arab Emirates each recorded eight new companies during the same period.
In total, the analysis includes start-ups from 84 different countries, highlighting the increasing internationalization and geographic diversification of the global innovation landscape.
San Francisco remains the start-up capital
A similar picture emerges at city level: San Francisco leads by a wide margin with 53 new start-ups. New York (32) and London (25) also rank among the world’s top start-up hubs, followed by Palo Alto (15), Los Angeles (12), Paris (10), and Singapore (8). Toronto, Seattle, and Tokyo are also in the top tier with six or more newly funded companies.
New players are also emerging: cities such as Dubai (5 start-ups), Shenzhen (5), Tel Aviv (5), and Bangalore (5) are gaining relevance—an indication of growing global connectivity and a shift in innovation dynamics toward less traditional regions.
Berlin leads the way in Germany
Germany is also represented in the international comparison, with several cities making the list. Berlin leads the national ranking with four new start-ups, followed by Munich and Hamburg, each with two. The remaining start-ups are spread across various locations. While Germany lags behind the UK in terms of numbers, it still maintains a steady presence in the European start-up scene.
A start-up boom alongside rising insolvency rates
The findings of the Start-up Atlas contrast sharply with current economic trends in Germany. In the 20 largest German cities, the number of business insolvencies rose from 4,515 in 2022 to 10,107 in 2024—an increase of around 124 percent. Against this backdrop, regions that offer start-ups long-term potential and access to capital are becoming even more crucial.
Statement from Prof. Dr. Peter Konhäusner
“The data confirms what we’ve seen for years: the U.S. continues to lead the global start-up scene—not only through Silicon Valley, but also cities like New York and Los Angeles. At the same time, we’re seeing promising momentum in European locations such as Berlin, Paris, and London. Initiatives like the EU Start-up Nation Standard are essential to improving conditions for young founders, especially in the global race for talent and capital. As a university with a strong focus on entrepreneurship and digital transformation, we are committed to helping ensure that Germany remains an attractive place for start-ups in the long term.” – Prof. Dr. Peter Konhäusner, Professor of Digital Entrepreneurship at Gisma University of Applied Sciences