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Over 10,000 startups had been launched world wide in 2020 and international startup funding throughout all sectors rose 42% year-over-year.
The three industries that noticed the most important startup progress final yr had been Science and Engineering (+329.7%), Biotech (+187%), and Manufacturing (+113%).
Nonetheless, in every week the place we be taught that that the worldwide recorded music business revenues grew 7.4% in 2020, we’ve now found that the worldwide music business’s startup scene was considerably much less effectively funded final yr in comparison with 2019.
VC funding for music startups fell by 67% from over $1 billion in 2019 to $328.9m final yr.
That’s in accordance with new figures revealed by researchers at BusinessFinancing.co.uk in a report revealing how start-up funding modified from 2019 to 2020 and the distinction in spending by nation and business.
The report, which was compiled by analyzing Crunchbase information, additionally reveals that the variety of startup music firms receiving VC funding fell from 87 in 2019 to 68 final yr.
Curiously, Synthetic Intelligence startups raised 82% extra in VC funding in 2020 than within the prior yr.
The full invested in AI begin ups rose from 10bn in 2019 to $18.2bn final yr, with 150 extra AI startups funded in 2020 than in 2019.
Different industries that noticed a big drop in startup funding had been Media and Leisure, which fell from $1.73bn in 2019 to $777,000 final yr (-55%), Journey & Tourism which fell from $5.7bn in 2019 to $2.38bn in 2020 (-58%) and Clothes & Attire, which fell from $2.1bn to $1.3bn (- 39%).
“It’s believable to argue that these industries had been affected by the occasions of 2020,” reads the report.
Elsewhere within the report, the figures reveal that throughout all sectors, the typical funding spherical in 2020 raised $28m, a 57% enhance on the 2019 common.
The three international locations that noticed essentially the most startup funding progress final yr had been Estonia (+1,346%), Chile (1,058.4%) and Colombia (941.9%).
The three international locations with the most important drop in funding had been Argentina (-91.2%), Lithuania (- 87.4%) and Nigeria (-74.4%).
The US had the most important funding rise dollar-for-dollar, elevating $35,594,999,900 ($35.6bn or 79.0%) extra in 2020.
In complete, throughout all sectors, 10,468 startups acquired enterprise capital (VC) funding in 2020, solely 83 greater than 2019.Music Enterprise Worldwide
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