Startup ecosystem index score in Nigeria 2022

The source states that the total score of the rankings is a sum of the quantity, quality, and business environment individual scores. The score ranges from 0 to 328.966 points (maximum score awarded to San Francisco, U.S., the best ranked city in the world according to the Startup Ecosystem Rankings 2021 report).

Quantity Score: Takes into account different metrics, such as number of startups, number of coworking spaces, and number of accelerators, to establish the activity level of the startup ecosystem.

Quality Score: Studies parameters that indicate qualitative results achieved by the ecosystem. These parameters include analyzing the traction of the ecosystem’s top startups, as well as reviewing “special entities” the ecosystem has produced: Unicorns, Exits, and Pantheon.

Business Score: It is a mix of business and economic indicators at the national level, discounted for cities that haven't reached a critical mass either for Quantity or Quality.