The global start-up scenery is still controlled by the West, though a discernible phase is underway.

 Let us discuss all options to understand them better. In option A, the word ‘setting’ is incorrect here. In option B, both words ‘picture’ and ‘period’ are incorrect. Considering option C, use of ‘terrain’ and ‘managed’ do not fit here. As for option E, the words ‘distributed’ and ‘setting’ are unsuitable for the sentence. Thus, we will choose option D as all are a perfect fit in the statement. The corrected sentence is - The global start-up landscape is still dominated by the West, though a discernible shift is underway.