2022 | StartupBlink View the Global Startup Map p. 17 Notable Algorithm Changes in 2022 As mentioned before, StartupBlink is constantly innovating and changing its algorithm to prioritize accuracy. Main changes in the 2022 Index relate to how special entities are weighted. When considering Unicorns and Exits, the Quality score now also takes their valuations into consideration, to reflect their relative "weight." Similarly, Pantheon members and influencers are classified into tiers. This is because not all special entities are equal; some are more impactful than others, and this needs to be reflected in the rankings. Further, we have now factored in exits of less than US$ 1 billion in the total amount of investment per ecosystem. A few new elements were added to the Business score this year, including the number of universities per location, the diversity & inclusion index, and new methods to check open regulation, such as the availability of Coinbase and Binance. Last but not least, our startup data sample size has increased in the last year from 75,000 to over 100,000 startups on our global startup ecosystem map. This allows for more accurate rankings of all ecosystems. Industry Rankings Methodology Aside from the general rankings, 11 industry rankings are also featured for the second year in this report. The Methodology used for these rankings is identical to the algorithm of the global rankings, while taking into account the startup database of each industry. The results for each industry (e.g. healthtech, foodtech, hardware & IoT) can be seen in the Industries section of this report. However, the fintech Industry rankings are built on an official Fintech Ecosystem Portal: Findexable’s Global Fintech Map, which includes deeper algorithm changes that are customized according to the specific characteristics of the fintech industry.