According to a recent research, Nairobi has continued to maintain its top spot among East African rivals while ranking in the top 150 cities globally that are the most preferred regions for startup investments.
Nairobi moved up 26 places in the world rankings to hold the 137th spot this year, up from the 163rd position last year, according to the most recent Global Startup Ecosystem Index 2023 report issued by industry research center StartupBlink.
With a score differential of less than 0.06 percent from Cape Town, which was ranked third, Kenya’s capital moved up one spot to take fourth place overall in Africa.
Energy and environment, which ranks 51st internationally, is Nairobi’s best-performing sector, according to the report.
Kenya’s consistency in retaining startup attractiveness has been attributed to a number of factors, including active public sector involvement that has led to the establishment of tech hubs like the Konza Technopolis and the enactment of the Startup Act, a framework that promotes a culture of innovation and entrepreneurship.