Toronto-Waterloo ranks 14th on global startup report
Source：BlogTO
From：Taiwan Trade Center, Toronto
Update Time：2021/12/22
The Toronto-Waterloo startup ecosystem has risen four spots in the recently released 2021 Global Startup Ecosystem Report (GSER) by Startup Genome. The report ranks 140 ecosystems around the world and highlights Toronto-Waterloo as one of the year’s biggest movers, moving up in the rankings from 18th in 2020 to 14th in 2021. The University of Waterloo, along with the Region, MaRS Discovery District and Communitech, worked closely with Startup Genome to highlight Toronto-Waterloo’s strengths.
According to the report, the Toronto-Waterloo corridor is one of the fastest-growing and densest innovation clusters in the world and is home to 20 percent of Canada’s university students. The corridor has created $20.8 billion in economic value with $2.3 billion total early-stage funding over the last two and a half years.
"Despite a turbulent year for many, the top five global startup ecosystems maintain their reign at the top, with Silicon Valley in the #1 position, followed by New York City and London tied for #2 for the second year in a row," reads the report. "Beijing and Boston follow at #4 and #5, respectively."
The rankings are largely dominated by North American ecosystems, with 50 per cent of the top 30 ecosystems coming from this region. Asia meanwhile has 27 per cent of the top performing ecosystems globally, while Europe has 17 per cent.
Toronto-Waterloo is the only Canadian ecosystem to place in the top 20, representing a major achievement for the corridor. The report cites rich and diverse talent pools, data sovereignty and data privacy as the reasons a startup should move to Toronto-Waterloo.
The 2021 GSER provides insights and guidance to public and private leaders on how to cultivate thriving startup ecosystems and support local startups — the No. 1 engine of job creation and economic growth. Discover how more than 140 entrepreneurial ecosystems across the world stack up and view the full report here: https://startupgenome.com/report/gser2021
Toronto-Waterloo’s Ranking in the #GSER2021 Quick Facts
- Top 10 Global Ecosystem and Top 5 North American Ecosystem in Funding—measures innovation through early stage funding and investor’s activity
- Top 15 North American Ecosystem in Affordable Talent—measures the ability to hire tech talent
- Top 20 Global Ecosystem and Top 10 North American Ecosystem in Talent and Experience—measure of production of talent in the ecosystem through universities and institutions
- Top 30 Global Ecosystem and Top 10 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 15 North American Ecosystem in Knowledge—measures innovation through research and patent activity
- Created $20.8 billion in economic value with $2.3 billion in total early stage funding over the last 2.5 years
- Rich, diverse talent pools, data sovereignty, and data privacy are cited as the reasons a startup should move to Toronto-Waterloo
- Al, Big Data & Analytics and Life Sciences are highlighted for their density of talent, support resources, and startup activity
Overall, the global startup economy is worth over $3.8 trillion in Ecosystem Value, according to the report, which is more than the individual GDP of most G7 economies (not including the value of exits prior to 2018).
The report indicates that there are now 79 ecosystems generating over $4 billion in value, which is more than double the number identified in 2017.
Here are the top 20 global startup ecosystems according to the GSER:
1) Silicon Valley
2) New York City and London (tied for #2)
4) Beijing
5) Boston
6) Los Angeles
7) Tel Aviv
8) Shanghai
9) Tokyo
10) Seattle
11) Washington DC
12) Paris
13) Amsterdam-Delta
14) Toronto-Waterloo and Chicago (tied for #14)
16) Seoul
17) Stockholm
18) Singapore
19) Shenzhen
20) Austin
"I am pleased to see Toronto-Waterloo rising rapidly in the ranking of the Top 30 ecosystems globally," said Yung Wu, CEO of MaRS Discovery District, in a statement. "The last two years have presented harsh conditions for everyone, but the upward trajectory of the Toronto startup scene has been a bright spot," he continued. "With increases in the number of venture deals, IPOs and some of the biggest ever global investments in Canadian technology companies, everything is lined up for a very strong rebound and Canada's most vibrant startup scene is playing a major role."
Source: https://www.blogto.com/tech/2021/09/toronto-jumps-4-spots-prestigious-ranking-best-cities-tech-startups/