Member-only story
Startup Spotlight: US Dominance vs. Global Emergence in 2024
2024 has been a good year so far with cryptocurrency markets surging and the Chinese zodiac predicting this to be a great year for progress. As innovation continues to drive economic growth, this year can also mark a pivotal moment for startups both in the United States and around the world.
The US Startup Scene: Thriving Amidst Challenges
The United States has long been known as a global hub for startups, with Silicon Valley standing as a beacon of innovation. However, in recent years, the US startup ecosystem has encountered several challenges, including regulatory hurdles, rising competition, and access to funding. In the past year, startups aiming to go public faced challenges. Only 154 companies went public in 2023, a decrease of 18% from the 174 in 2022.
But, according to research by PitchBook, despite these challenges, the US still maintains its dominance, with over $150 billion in venture capital funding in 2023 alone. Sectors such as technology, biotech, and fintech continue to attract significant investments, propelling innovation and job creation.
