64 Global Leaders Driving Innovation Ecosystems: SES Winners 2024!

Top organizations driving innovation in their respective ecosystems were unveiled today in Paris during the ninth edition of the Startup Ecosystem Stars (SES) Awards, organized by International Chamber of Commerce (ICC) and Mind the Bridge in collaboration with the OECD and the European Commission, with support from Microsoft.

Yacine El-Mahdi Oualid was honored as the 2024 Startup Ecosystem Star for his visionary leadership as Algeria’s Minister of Knowledge Economy, Start-ups, and Micro-enterprises in fostering innovation and entrepreneurial growth in Algeria and more broadly across Africa.

“Innovation is a key driver of economic growth, and today’s awards exemplify the power of collaboration between corporates and startups, and the importance of fostering entrepreneurial ecosystems –  said John W.H. Denton AO, Secretary General, ICC – ICC is honored to host this annual celebration of global innovation.”

The celebration also featured the ninth edition of Corporate Startup Stars (CSS) Awards, which recognized GPU-accelerated computing pioneer Nvidia as 2024’s most innovative company in the world, together with other 100 corporates.

Philippe Tibi, Professor of Economics at France’s “Ecole Polytechnique” and President of the Executive and Technical Committees of the “Financement Scale-UP” project at the French Ministry of Economy, Finance, and Recovery delivered the event’s keynote address. He said: 

“Innovation is the driving force behind global economic growth, and today’s Corporate Startup Stars and Startup Ecosystem Stars exemplify the power of collaboration, both between corporations and startups, and across ecosystems worldwide. – Professor Philippe Tibi, commented – Breakthrough innovation is frequently incarnated by hugely successful startups. We must also recognize that open innovation involving established companies and public-private collaboration, such as the initiatives we’re witnessing today, can also effectively scale innovation, channel private investment, and create sustainable growth across industries, unlock new pathways for economic transformation and lead the way in empowering the next generation of innovators.”

2024 Startup Ecosystem Stars

Startup Ecosystem Stars Awards annually recognize government-related organizations able to boost both inbound and outbound innovation and can represent cities, regions, or countries.

In total, the 2024 edition crowned 64 organizations, 35 as Startup Ecosystem Stars and 29 as Rising Stars, representing 36 countries worldwide (Europe 47%, 28% Asia 28%, North America 12%, Africa 5%, 3% from Oceania and the Middle East each, and LATAM 2%).

“Far from being ‘flat’, the innovation landscape is dominated by a few global hubs like Silicon Valley and Israel, which attract the lion’s share of attention and investment, reinforcing their dominance. Meanwhile, most local ecosystems remain underrepresented, facing a growing gap. However, there is hope. Some regions are accelerating progress by implementing policies and investments that foster technological innovation and build global connections. Recognizing these ‘fast movers’ is essential, as they can serve as models for others“, commented Marco Marinucci, CEO and founder, Mind the Bridge.

2024 winners are: 

Stars: Alexander Innovation Zone (Thessaloniki Innovation Zone), Arizona Commerce Authority, Ateneo Intellectual Property Office, BEBKA, BLOCK71 – NUS Enterprise, Chung Yuan Christian University Industry Accelerator&Incubation Center, City of Torino, Colorado Office of Economic Development and International Trade, Çorlu Chamber of Commerce and Industry, Cradle Fund, Cyprus Seeds, Department of Health – Abu Dhabi, Department of Trade and Industry, Desafia, Dorset Council, Free and Hanseatic City of Hamburg & Dataport, House of Startups – Luxembourg-City Incubator, HS2 Ltd,Illinois Department of Commerce & Economic Opportunity, ImpactCity The Hague, LaunchVic – Overnight Success, Malaysia Digital Economy Corporation, National Innovation Agency, NTUitive, Regione Calabria – Fincalabra, Seoul Business Agency (서울경제진흥원), Skuast k Innovation, Incubation & Entrepreneurship Centre, Tech Barcelona, The Small and Medium Enterprises General Authority “Monsha’at”, Transreport Limited, Transport for London, Transport for West Midlands, UC Centre for Entrepreneurship, Utah Governor’s Office of Economic Opportunity | Startup State Initiative.

Rising Stars: Art-Er, Balearic Islands Government, BESCO – The Bulgarian Entrepreneurial Association, Cámara de Comercio de Guadalajara, Cardiff Capital Region, City of Joensuu, Digital Development Agency of Morocco, EIT Climate-KIC, FutureUnicorns Accelerator (prev. Bulgaria Innovation Hub), GCCEI (Gyeonggi Center for Creative Economy & Innovation), Greater Cambridge Partnership, Gwinnett Technical College, Hamburg Invest Wirtschaftsförderungsgesellschaft mbH, IET – Instituto Empresarial do Tâmega, Industrie- und Handelskammer zu Dortmund – Chamber of Industry and Commerce in Dortmund, Investissement Quebec, Izmir Commodity Exchange, Konya Chamber Of Industry, New York City Economic Development Corporation (EDC), Novation CIty, Perth & Kinross Council, Regione Abruzzo – Innovazione Automotive e Metalmeccanica A R.L., Tel Aviv Global & Tech, The MAAYAN Fund, The Talentcenter of the Styrian Economic Chamber, Trakya Development Agency, Transport for Greater Manchester, Unicorn Factory Lisboa, Wyoming Business Council.

These awards highlight the efforts of government-related organizations or programs that boost the development of startup ecosystems, focusing on areas like investment, talent nurturing, and industry support.

Algeria’s former Minister of Innovation (and current Minister of Vocational Education and Training), Yacine El-Mahdi Oualid, was recognized as the Startup Ecosystem “Star” of the Year for his pivotal role in fostering innovation in Algeria and across Africa. Through initiatives such as the Algeria Startup Fund, managing significant state-backed investments of approximately $411 million, Oualid has worked to build a vibrant startup ecosystem. A key focus of his efforts has been positioning Algeria as a central hub for innovation and technology in Africa, with aspirations comparable to leading African startup ecosystems. This ambition is exemplified by the African Startup Conference taking place this week in Algiers, now recognized as one of the continent’s premier tech events. Additionally, Oualid has spearheaded the creation of a legislative framework designed to support and empower young startups.

“I am deeply honored to receive this prestigious award, which celebrates the significant strides we have made in fostering entrepreneurship and innovation in Algeria and across Africa. From implementing a regulatory framework to support startups and streamlining business creation through a paperless online platform, to establishing the Algerian Startup Fund, our initiatives are designed to empower entrepreneurs and drive sustainable growth. Hosting the African Startup Conference reflects our unwavering commitment to connecting African talent with global opportunities, positioning our region as a hub for technological excellence. By creating more opportunities for startups, addressing brain drain, and cultivating an environment where innovation thrives, we aim to make Africa a better place for its innovators. This recognition by ICC and Mind the Bridge inspires us to continue advancing progress and strengthening a dynamic ecosystem for innovation.”, commented Yacine El-Mahdi Oualid.

Accessibility technology company Transreport Limited received the Public Sector Special Award in “Visionary Public Procurement” by the Innovation Procurement Empowerment Centre (IPEC), a project of the Connected Places Catapult, for its pioneering work in public sector innovation.

“Network Rail’s and Rail Delivery Group’s partnership with Transreport illustrate the transformative power of public procurement as a tool to empower innovation which is absolutely needed as we try to address some tough challenges in society. We are thrilled to see them recognized on this global stage. I would also like to congratulate the City of Hamburg, HS2 (UK), Dorset Council, Transport for London, Transport for West Midlands for their brilliant work in using procurement to bring in market innovation.”, highlighted Rikesh Shah, Head of Innovation Procurement Empowerment Centre (IPEC) at Connected Places Catapult.

The Report

On the occasion of the SES Awards, the new Report “Startup Ecosystem Stars Report 2024: Innovation or Isolation: The Future of Regional Ecosystems” was presented by Mind the Bridge. The study is aimed at policymakers who recognize innovation as a critical driver of regional GDP growth. It provides a roadmap for government-linked organizations at every level—city, region, country, or continent—to design and implement programs that nurture local talent and technological innovation. Here are the main highlights:

Global Innovation Concentration
Innovation is concentrated in a few dominant hubs like Silicon Valley, Israel, and others. These hubs benefit from dense networks, significant capital, and talent pools. 50% of Fortune 500 companies have a presence in the Bay Area; 28% in Israel.

Innovation Gap
Transitioning across stages of the Innovation Ecosystems Life Cycle curve takes years.The further along the curve, the more selective each phase becomes. Developing a  global innovation ecosystem takes 10 years; establishing a continental hotspot takes an additional 7–8 years.

Scaleup Metrics (2024)
90,000+ scaleups worldwide have raised $3.7 trillion in funding, distributed this way: North America 43% of scaleups; $1.8 trillion in funding; APAC: 24,835 and $1.2 trillion; Europe: 19,474 and $500 billion, Middle East: 4,283 scaleups and $147 billion; LATAM and Africa show emerging potential but remain small contributors.

Scaleup Density and Investment
Israel leads with 31.7 scaleups/100k people and invests 22.5% of its GDP in innovation. Singapore follows with 26.9 scaleups/100k and 8.7% of GDP. The U.S. invests 6.1% of GDP; Europe lags with less than 3% on average.

Regional Concentration
Innovation hubs are increasingly region and city-centric (e.g., 65% of France’s scaleups in Paris; 68% of UK’s in London). High concentration levels: Saudi Arabia, South Korea: ~75% of scaleups in key hubs; UAE, Chile, Kenya: ~90% concentrated.

The Lifecycle Framework
Innovation ecosystems progress through four stages: Standup (0–75 scaleups): ~2–3 years; Startup (75–300 scaleups): ~4 years. Scaleup (300–1,200 scaleups): ~7 years. Star (1,200+ scaleups): 4–5 additional years. Fast Movers 2023–2024 showed Ontario and Seoul reaching the “Nova Star” stage. São Paulo advanced to the Late Scaleup stage. Jakarta and Zurich moved to the Scaleup stage. Gauteng (South Africa) entered the Startup stage as the only African region among other 12 regions.

Challenges and Opportunities
Europe risks losing relevance in the innovation race without increased investment while emerging regions like LATAM, Africa, and parts of Asia show promise but need targeted strategies. Policies and public investments play a critical role in accelerating regional ecosystems.