ImpactCity The Hague recognised as Startup Ecosystem Star of 2024

Global leaders driving innovation ecosystems

Paris, December 5, 2024 – Top organisations driving innovation in their respective ecosystems were unveiled yesterday in Paris during the ninth edition of the Startup Ecosystem Stars (SES) Awards, organised by International Chamber of Commerce (ICC) and Mind the Bridge in collaboration with the OECD and the European Commission, with support from Microsoft.

Startup Ecosystem Stars Awards annually recognize government-related organisations able to boost both inbound and outbound innovation and can represent cities, regions, or countries. In total, the 2024 edition crowned 64 organisations, 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%).

Among the 2024 winners is The Hague, the city for entrepreneurs working on innovations for a better world. The city is home to a vibrant community of over two hundred impact entrepreneurs and many impact investors who look beyond just profit. As ImpactCity, The Hague offers entrepreneurs and impact makers a wide range of opportunities and services year-round, helping them start and scale their innovative businesses. To address global challenges, ImpactCity helps impact startups and scale-ups with access to capital, increased visibility, a strong network, infrastructure, access to talent, and room to experiment.

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

Innovation or isolation: the future of regional ecosystems

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 recognise innovation as a critical driver of regional GDP growth. It provides a roadmap for government-linked organisations at every level—city, region, country, or continent—to design and implement programs that nurture local talent and technological innovation. Some highlights include:

• 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. 
• 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.