Startup Genome, Ben Franklin Technology Partners Of Southeastern Pennsylvania, Drexel University, And University City Science Center Launch 2023 Global Startup Ecosystem Report

Contact:

Anna Brashear, Growth Marketing Manager, Startup Genome

annab@startupgenome.com

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Philadelphia is celebrated in the world’s premier report on startup and economic enrichment – ranking as a Top 30 Global Ecosystem in Funding, Performance, and Talent & Experience 

SAN FRANCISCO, Calif. — June 15, 2023 — The 2023 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was launched today at The Next Web Conference in Amsterdam. The GSER is powered by the world’s most comprehensive and quality-controlled dataset on startup ecosystems. Informed by data on 3.5 million startups across 290+ global ecosystems, the report provides compelling new insights and deep knowledge about startup trends around the world. Contributions from expert thought leaders and local key players further enrich the report’s extensive, evidence-based findings, which are the product of over a decade of Startup Genome’s independent research and policy work.

Ben Franklin Technology Partners of Southeastern Pennsylvania, Drexel University, and the University City Science Center have partnered with Startup Genome to recognize Philadelphia’s entrepreneurial ecosystem in the #GSER2023 —

• Ranking as the #27 Global Startup Ecosystem. Looking at its longer-term growth from the GSER rankings 2020-2023, the ecosystem has moved up an impressive 16 spots over three years
• Philadelphia created $68,180,889,878 in ecosystem value from Jul 01, 2020 to Dec 31, 2022, representing 46.53% in compound annual growth compared with 01 Jul 2018 – 31 Dec 2020. Ecosystem value is a measure of economic impact, calculated as the value of Exits and startup valuations.
• Top 30 Global Ecosystem and Top 15 North American Ecosystem in Funding — measures innovation through early stage funding and investor’s activity
• Top 30 Global Ecosystem and Top 15 North American Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding
• Top 30 Global Ecosystem and Top 15 North American Ecosystem in Talent & Experience — measures long term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem
• Top 40 Global Ecosystem and Top 15 North American Ecosystem in Knowledge — measures innovation through research and patent activity
• The Life Sciences, Advanced Manufacturing & Robotics, and AI, Big Data & Analytics sectors are highlighted for their density of talent, support resources, and startup activity
• The diverse and skilled talent base and tax incentives are cited as reasons a startup should move to Philadelphia

“Philadelphia continues to build on its strengths in the life sciences, boasting several high-profile exits in recent years. However, the ecosystem has also seen a rise in eCommerce and HR tech startup success stories – marking an evolution driven largely by the talent flowing from its strong local universities, and backing from its entrepreneurial support organizations,”  shares Marc Penzel, Founder & President of Startup Genome. “We are honored to be working with several of these Philadelphia organizations in Drexel University, the University City Science Center, and Ben Franklin Technology Partners. Together, we are leveraging the most rigorous and data-driven methodology available to grow Philadelphia’s exciting potential.”

GSER 2023 ranks the top 30 as well as 10 runner-up global ecosystems and includes a top 100 ranking of emerging ecosystems. It also highlights startup communities from a regional perspective, separately ranking ecosystems in Africa, Asia, Europe, Latin America, MENA, North America, and Oceania. Key themes of this year’s report include inflation, AI regulation, talent attraction, global VC funding, and a wide range of market sub-sector analyses.

“It is heartening to see Philadelphia recognized for its fast-growing startup ecosystem. This is a testament both to the hard work that our area’s innovators are doing to address our society’s biggest challenges and to the steadfast efforts of the region’s entrepreneurial support organizations to invest in and elevate those efforts,” said John Fry, President of Drexel University.

“The last 18 months presented a new set of challenges and adversity to startups, with a drastically different funding environment. But Greater Philadelphia has been resilient and continues to see momentum across life sciences and technology sectors,” said Science Center President & CEO Tiffany Wilson. “We’re proud of Philadelphia’s ranking as a top 30 global startup ecosystem and eager to continue chipping away at that number in the years to come.”

“The consistency and diversity of the innovation happening here are what continue to make investors and talent pay attention to the Philadelphia region,” said Scott Nissenbaum, President and CEO of Ben Franklin.

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The GSER is created in partnership with the Global Entrepreneurship Network, Dealroom, and Crunchbase. The 2023 GSER provides invaluable insights and guidance on how to promote thriving startup communities — the #1 engine of job creation and economic growth. Discover how 140 entrepreneurial ecosystems compare and view the full report here: https://startupgenome.com/report/gser2023 (available June 15).

ABOUT BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA  

Ranked among the most active seed and early stage investors in the US, Ben Franklin Technology Partners of Southeastern Pennsylvania is a venture development organization that helps high-growth innovative enterprises plant and nurture their roots in the Philadelphia region. The nonprofit has supported more than 2,000 companies to deliver an economic impact of more than $5 billion and over 32,000 jobs created in the Philadelphia region.

ABOUT DREXEL UNIVERSITY 

Drexel is a comprehensive global research university with a unique model of experiential learning that combines academic rigor with one of the nation’s premier cooperative education programs. Drexel is classified as “R1: Doctoral Universities” by the Carnegie Classification of Institutions of Higher Education, a designation given to U.S. research institutions with the highest level of research activity.

ABOUT UNIVERSITY CITY SCIENCE CENTER

The University City Science Center is Philadelphia’s premier catalyst of entrepreneurial activity, healthcare innovation, and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor, and economic development partner for young technology companies. Working alongside industry partners and leading research and academic institutions, the Science Center has supported over 1,000 early-stage companies.

ABOUT STARTUP GENOME 

Startup Genome’s data-driven insights provide innovation policy leaders with clarity, momentum, and strategy to help them define and execute growth-focused actions. Working side-by-side with 300 partner organizations, Startup Genome’s frameworks and methodologies are instrumental in building foundations for startups to grow. Startup Genome identifies key gaps in startup ecosystems and prioritizes actions to fuel sustained economic growth — rooted in more than a decade of independent research. Find out more by contacting Adam Bregu at adam@startupgenome.com or visiting startupgenome.com and LinkedIn.

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For interviews and further inquiries, please contact: 

Anna Brashear

Growth Marketing Manager, Startup Genome

annab@startupgenome.comWhatsApp +49 159 0811 0452┃LinkedIn

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