BizWorld Updates Monthly Draper Innovation Index Global
Nations Compete to Land in Top Ten of Best Places Globally
to Launch a Startup

Sweden (5th) Overtakes Denmark (6th) in DII Global Top 10
Singapore (9th) Drops Below Finland (8th)
Japan and South Korea Climb in DII Global Top 20, Estonia Retreats to 18th
Russia Continues Fall to 209th
Turkey, Ecuador, Argentina, Uruguay, El Salvador, Brazil, Tonga, and Morocco Rise
Mexico, Suriname, Kyrgyzstan, Botswana, Senegal, Slovenia, and Tunisia Fall

Oakland, California – BizWorld announces its October 2024 update to the Draper Innovation Index Global (DII Global), which evaluates each nation’s ability to develop, support, and retain entrepreneurs, innovators, startups, and investors. First published in 2021, the DII Global provides the most well-rounded and up-to-date look at entrepreneurial environments across the globe.

“Both major U.S. presidential candidates have backed cryptocurrency-related regulatory frameworks,” said BizWorld founder Tim Draper. “The crypto-related SuperPAC Fairshake has emerged as a major player when it comes to funding campaigns. These two headlines point to the unprecedented political importance of cryptocurrency during this campaign cycle, and this importance is not limited in the United States or 2024. In the coming years, you can expect to see cryptocurrency as a major plank in the platforms of parties all around the world because it’s a forward-thinking, golden global opportunity to stand out from political rivals.”

Top Takeaways from the DII Global October 2024 Update

• Sweden overtook Denmark for 5th in the DII Global thanks to each country’s respective currency performance against other fiat currencies.
• Finland surpassed Singapore for 8th place due to comparative economic and investment outperformance.
  Despite continued inflationary concerns, Turkey climbed due to venture capital investments in AI/Machine Learning, rising from 132nd to 122nd.
• Japan and South Korea both have benefited from currency strength compared to other fiat currencies and significant growth in AI/Machine Learning investments; they rose to 12th and 16th place, respectively.
• Estonia fell from 16th to 18th with no momentum in AI/Machine Learning-related investment growth.
• Despite seeing large investment growth in AI/Machine Learning, weakness in local currency against Bitcoin served to push Russia further down the DII Global to 209th place.
• Three Central/South American countries climbed up the rankings due to improved World Uncertainty Index scores; Ecuador rose by 6 places, Argentina by 5 places, and El Salvador by 1 place in the DII Global.
• Uruguay climbed from 35th to 33rd in the DII Global primarily due to an improved S&P Outlook.
• Brazil also registered an improvement of 4 ranks in the DII Global thanks to an increase in AI/Machine Learning investments.
• Thanks to comparatively strong local currency performance against other fiat currencies, Tonga moved up 6 places to 98th in the DII Global and Morocco rose five ranks to 147th.
• The peso’s relatively weak performance against Bitcoin caused Mexico to fall from 92nd to 97th.
• With worsening S&P Country Risk Ratings and weak local currency to Bitcoin performance, Suriname experienced the largest drop of 14 places in the DII Global to 127th.
• With comparative weakness in local currency performance against Bitcoin, Senegal dropped 7 places in the DII Global.
• With no increases in AI/Machine Learning investments and weak economic performance, Kyrgyzstan, Botswana, Slovenia, and Tunisia all saw declines in the DII Global, falling by 8 ranks, 7 ranks, 6 ranks and 6 ranks, respectively.

“Local currencies’ performance relative to Bitcoin continue to drive drops in the DII Global rankings,” said BizWorld Economic Advisor Dr. Wallace Walrod. “For instance, it played a major role in Mexico and Russia’s declines. As the cryptocurrency industry continues to grow and mature, Bitcoin and other cryptocurrencies will become larger and larger considerations for multiple aspects of economic policy – not just crypto-specific regulations but also more broadly fiscal policy.”

The DII Global will release monthly updates to continually reflect the latest developments in global innovation and entrepreneurship, available here.

About BizWorld

BizWorld.org is a global non-profit organization based in Oakland, CA, whose mission is to enable youth from all backgrounds to unlock the power of entrepreneurship to create career opportunities, inspire self-reliance, and build confidence that drives economic prosperity globally. Founded over 25 years ago by Silicon Valley venturecapitalist 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/