Top 20 Hottest Open Source Startups to Watch in 2024
In the ever-evolving landscape of technology, the latest open source startups report has unveiled the top 20 trending companies worldwide, with over half of them focusing on artificial intelligence (AI). This insightful analysis, produced by the esteemed European venture capital firm Runa Capital, highlights the rapid growth and innovation within the open source domain.
Overview of the ROSS Index
Since its inception in 2020, the Runa Open Source Startup (ROSS) Index has provided quarterly updates showcasing the most promising projects based on GitHub stars—a metric akin to social media likes. Starting in 2023, Runa began releasing annual reports that spotlight the most popular commercial open source startups.
AI’s Dominance in Open Source
The previous year’s report revealed that AI and data infrastructure were pivotal in driving demand for open source tools, with LangChain taking the top spot for its framework designed for LLM-centric applications. This year, the trend continues, with AI being a central theme for 11 out of the top 20 companies listed.
Criteria for Inclusion in the ROSS Index
The ROSS Index is meticulously curated, focusing exclusively on projects that are vendor-led and closely tied to commercial entities. To qualify, projects must meet several criteria:
- Be less than 10 years old
- Have raised under $100 million in funding
- Be entirely independent (not a subsidiary or publicly traded)
Top Open Source Startups in 2024
Here are the top five startups featured in the 2024 ROSS Index:
- Ollama – A Y Combinator graduate, Ollama provides tools for running LLMs like Meta’s Llama locally. Its GitHub stars surged by 76,000, reaching over 135,000.
- Zed Industries – A collaborative code editor designed for high-performance teamwork with humans and AI, Zed gained over 52,000 stars after going open source in January 2024.
- LangGenius – The creator of Dify, an open source LLM app development platform, LangGenius saw a remarkable increase of 43,000 stars, totaling over 84,000.
- ComfyUI – This node-based program for generating media using generative AI models grew by 195%, reaching 61,900 stars.
- All Hands – The developer of OpenHands, a platform for software development agents, gained a total of 51,600 stars since its launch in March 2024.
Insights from the 2024 ROSS Index
The ROSS Index illustrates the explosive growth in AI and LLMs while emphasizing the ongoing demand for developer tools. Notable mentions include:
- Zed and Astral’s UV in the top 10
- Stirling PDF, a PDF manipulation tool at No. 7
- Maybe Finance, a finance management software at No. 8
- RustDesk, a remote desktop software at No. 17
- Fuel, focusing on the Ethereum blockchain at No. 12
Global Distribution of Top Startups
The ROSS Index reveals significant geographical diversity in the open source startup landscape. Notably, San Francisco is home to six of the top 20 startups, while Canada contributes three, with the remainder spread across Europe, Singapore, and China.
Methodology Behind the ROSS Index
While there are various methods for tracking trending open source projects, such as the Open Source Index by Two Sigma Ventures and GitHub’s own trending project list, the ROSS Index stands out for its focus on commercial viability.
Runa Capital employs a unique methodology, measuring growth based on the number of new stars accrued over a year, which can yield different insights compared to quarterly metrics.
Understanding Open Source Classification
It’s essential to note that while many projects on the ROSS Index are released under recognized open source licenses, the classification is based on a “commercial perception” rather than strict adherence to traditional definitions. For instance, projects under the Server Side Public License (SSPL) may still qualify.
In conclusion, the ROSS Index serves as a valuable resource for understanding the trajectory of open source technologies and the innovative companies driving their success. For more insights on open source projects, visit Runa Capital’s ROSS Index.
