Statement:
In Ecuador, startup ecosystem seems to be less developed than in Panama

In the Startup Ecosystem Index rating Ecuador holds position #87 ²⁰²² out of 99 and Panama is #78 out of 99 ²⁰²².
Position of Ecuador is worse than position of Panama.

Referencies:

1. Startup Ecosystem Index ²⁰²² by StartupBlink

   The countries in the rating sorted by 'Total Score' in descending order.

   Ecuador	'Total Score' value is	0.441
   Panama	'Total Score' value is	0.633