Vancouver and Toronto Ranked in Top 20 Startup Ecosystem around the World

The Startup Ecosystem Ranking report is out for another year and they have been some significant changes – London went up 3 places to #3, and Berlin went up 2 places to #7, and Beijing came in at #4.

Things look good for Canada as well especially if you work and live in Vancouver or Toronto region (Waterloo included). Toronto went up 1 spot to #16, and Vancouver went up 3 spots to #15. Unfortunately Montreal did not make the list.

Startup Genome is a global collaborative effort to help regions everywhere nurture and maintain thriving tech startup ecosystems. Insights gathered from 10,000+ startup companies and 300 partner organizations, provide a starting point for founders, employers, local leaders, and policymakers in 50+ cities around the world to make informed and timely decisions that drive innovation and economic growth.

In regards to Vancouver, report said:

Vancouver is leveraging its unique combination of assets: Hollywood North, a strong industrial foundation, enterprise data and cloud underpinnings, and a remarkably diverse talent pool, with over half its residents having a first tongue other than English.

The city may have the fewest number of startups in top 20, but their valuations are highly competitive. Its funding metrics point to the Vancouver ecosystem holding steady, not rising or sinking greatly.

Toronto was another story, the report said:

An estimated 2,100 to 2,700 startups thrive thanks in part to world-class engineering talent, strong entrepreneurial culture, an affordable rental market, and a global base of customers. It benefits from multicultural talent drawn from sixteen academic institutions…alongside generous tax credits, government grants, and favourable currency exchange.

Top 20 Startup Cities as according to Startup Genome for 2017