Philly is Movin’ on Up in the Top 30 List for Global Startup Ecosystems

For the third year in a row, Philly is trending upward on the Startup Genome’s Global Startup Ecosystem Report (GSER) report.
After ranking No. 28 on the org’s global list for best ecosystems for startups in 2021, Philadelphia lands at No. 27 in 2022. In 2020, Philly was ranked as the top “emerging” startup ecosystem in the US.

The cities are rated on a scale in six categories: performance, funding, connectedness, market reach, talent and knowledge. Startup Genome considered 300 ecosystems for this year’s list. Philly scored high for performance and market reach, middle of the road for talent and experience, and low for funding, connectedness and knowledge compared to other cities.

The report also noted the “vibrant” life sciences community, in line with recent news such as the city’s recent No. 8 ranking on CBRE’s Life Sciences Talent Report and the constant building of much-needed lab space.

Ben Franklin Technology Partners, University City Science Center and Drexel University worked in concert with Startup Genome to showcase Philadelphia. Diverse and skilled talent, a university research hub, and hospital networks were cited as reasons startups should consider Philadelphia. The report also highlights the growing local AI, big data and analytics industries as attractive to startups.

“As for major innovation trends, the rising digits tell the story: Web3, Industry 5.0, Supply Chain 4.0. And, of course, 5G. Innovations in — among many other sectors — digital finance, AI-discovered molecules, and climate- change mitigation are remaking not just business, but also the social and physical worlds,” the report said.

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