Lagos, Nigeria, has been crowned the world’s fastest-growing tech ecosystem for 2025, according to the Global Tech Ecosystem Index 2025 report released by Netherlands-based research firm Dealroom.co.
The city’s vibrant tech scene, bolstered by five unicorns—Interswitch, Flutterwave, Jumia, OPay, and Moniepoint—has solidified its position as a magnet for startups and investors.
The report places Lagos at the top of its “Rising Stars” category, which highlights emerging tech hubs driving a new wave of innovative companies.
“This year, Lagos (#1) is topping the list, having created 5 unicorns and grown its ecosystem valuation 11.6x since 2017 despite a smaller economy,” the report stated.
Since 2017, Lagos’s tech ecosystem has grown its valuation by an impressive 11.6 times, outpacing peers despite Nigeria’s relatively smaller economy.
The ranking factors in enterprise value growth, unicorn creation, and adjustments for local GDP per capita and cost of living.
Turkey’s Istanbul secured the second spot, followed by Pune, India, in third.
Other notable cities in the ranking include Belo Horizonte and Curitiba in Brazil, Mumbai in India, and Riyadh in Saudi Arabia.
While Lagos leads as Nigeria’s fastest-growing city for startups, the country is noticeably absent from the Global Champions category — a ranking of the world’s most advanced and established startup ecosystems.
This category is based on absolute metrics like venture capital investment, enterprise value creation, the number of unicorns, and strong university–industry linkages — areas where Nigeria still lags behind.
The report underscores the rise of dynamic tech ecosystems in emerging markets across Africa, India, Türkiye, and Brazil, positioning Lagos as a global leader in this transformative wave.
Top on the list of Global Champions is Bay Area, followed by New York City, and Boston, all cities in the United States.
“While the Bay Area (#1) is still the undisputed champion, newer hubs such as Austin (#5), Tel Aviv (#10), or Stockholm (#15) have started to build substantial ecosystems. Paris (#4) is the top hub in Europe, followed by London (#6),” Dealroom.co stated.
