The 2021 report explores the following: Initially, we explore the state of startups, small businesses and investments after a year – and global pandemic – have passed. Then we dive into one of the hottest areas today: health innovation. We highlight trends related to COVID-19, as well as other relevant topics, such as how AI and machine learning are impacting innovations in health. After that deep dive, we zoom out to explore broader trends related to investment structures, the impact of economic recovery funds distributed by the government, and other capital formation specific to entrepreneurs and small businesses. One of the major highlights is the disparity in funding as it relates to support for underrepresented groups in entrepreneurship. We then take on the theme of diversity, equity and inclusion in entrepreneurship, highlighting some of the massive experimentation of the past several years to create more inclusive ecosystems through case studies and models, with a hope to inspire action and research related to these topics. We conclude by examining factors inside organizations related to teams and talent, and how those elements play into the ongoing success of organizations.