BizWorld Updates Monthly Draper Innovation Index U.S.
States Compete to Land in Top Ten of Best Places to Launch a Startup

South Dakota (6th) Pulls Ahead of North Carolina (7th) in DII US Top 10
Wyoming and Washington Break Into Top 10, Massachusetts, Nevada Fall Out
Arizona Also Rises in Top 10
Wyoming, Oregon, and Idaho Register Largest Gains
Nevada, Georgia, Louisiana, and Massachusetts See Largest Declines

Oakland, California – BizWorld announces the November 2025 update to the Draper Innovation Index U.S. (DII US), which evaluates each state’s innovation environment and entrepreneurship climate. Published monthly since 2021, the DII US provides the most well-rounded, up-to-date ranking of entrepreneurial locations, reflecting both traditional and emerging economic metrics, from taxes and regulations to venture capital investment, cryptocurrency friendliness, and blockchain investment trends. Due to the Federal Government shutdown, Business Formation Statistics from the U.S. Census could not be included in this month’s update.
“The DII US’s highest performers share something important in common,” said BizWorld Founder Tim Draper. “Population growth over the past half-decade. This includes both consistent top performers, such as Utah and Texas, and states currently rising up the ladder, such as Washington and Idaho. The reason is obvious – new residents mean new investors, new talent, and new entrepreneurs. A stagnant or declining population, on the other hand, means missing out on those opportunities. This demographic vitality is a key leading indicator. We expect to see states that actively attract and retain new residents continue to climb in the rankings.”

Top Takeaways from the DII US November 2025 Update

• South Dakota (6th) was able to overtake North Carolina (7th) in the DII US Top 10 thanks to significantly higher overall venture capital investment growth.
• Wyoming saw the largest monthly improvement, jumping from 13th place to 8th as a result of strong cryptocurrency/blockchain venture capital investments.
• Washington broke into the Top 10 due to solid overall venture capital investment growth.
• Massachusetts slipped out of the DII Top 10; it fell from 8th to 11th while remaining 1st in Tech and Innovation. This was due to weak overall venture capital investment growth and no cryptocurrency/blockchain-related investment growth.
• Nevada was this month’s largest decliner dropping from 9th to 15th in the DII Balanced and from 17th to 23rd in Tech and Innovation due to weak overall venture capital investments.
• Georgia also fell to 16th with below average overall venture capital investment growth offset by gains in cryptocurrency/blockchain-related investment.
• Louisiana dropped from 42nd to 45th as it failed to see any meaningful venture capital investments.
• Oregon also saw a meaningful improvement, rising 4 places from 34th to 30th by registering the single largest increase in capital cryptocurrency/blockchain venture capital investment growth.
• Idaho saw the third largest improvement in the DII US this month, moving from 15th to 12th thanks to above average venture capital investments growth.
• Arizona climbed to 9th because of comparatively stronger overall venture capital investments.
  Both California and New York remained in place due to average growth in overall venture capital investments.

“This month’s DII US highlights strong upward momentum from Western states, with Wyoming, Oregon, and Washington posting significant gains that reshuffled the Top 10,” said BizWorld Chief Economy Advisor Dr. Wallace Walrod. “While Florida maintained its top spot, states in the Mountain West and Pacific Northwest are making aggressive moves, challenging traditional tech leaders. A big part of their success is having a well-rounded economy that encompasses both traditional industries and new emerging tech. This economic diversity makes them less vulnerable to downturns and better positioned to benefit from technological innovation. It proves that a forward-thinking, balanced approach is the key to building a resilient entrepreneurial climate.”

The DII US will continue to post monthly updates which can be accessed here.

About BizWorld

BizWorld.org is a global non-profit organization based in Oakland, CA, whose mission is to equip future generations with entrepreneurial life skills to unlock their potential and create economic opportunity. Founded over 25 years ago by Silicon Valley venture capitalist Tim Draper, BizWorld.org programs teach students real-world 21st century skills and leadership that encourage them to become responsible leaders and entrepreneurs of tomorrow. More than 850,000 students in more than 100 countries have participated in BizWorld programs. https://www.bizworld.org/