Report ranks Canada third in top 10 startup ecosystems worldwide

canada

Swiss-based startup StartupBlink, which is working to develop a map of the global startup ecosystem, has released a report ranking Canada’s ecosystem third in the world.

“Considering current trends, it is safe to assume that Canada might soon grab the second spot on the list.”

Released in November 2017, the report — conducted with the ANSYS hardware startup program — ranks 954 cities and 125 countries around the world based on their “startup ecosystem strength,” which was measured by the quantity of startups and supporting organizations, the success of the startups in each region (such as how many unicorns are in each region), and business environment, which measured infrastructure, red tape, and the ease of launching a business. The report included ranking tables for both cities and countries.

Most of the data used while generating the rankings was accumulated on StartupBlink since its launch in 2014, or was sent to them by data partners in cities around the world. Besides startups, StartupBlink also takes into account coworking spaces, accelerators, tech reporters, and startup organizations.

In the country rankings, the United States took the top spot, while the UK came in second. The report also pointed out that there is a large gap in the Americas, with the US and Canada at the top and third spot, while Mexico and Chile are 30 and 33rd.

“Considering current trends, it is safe to assume that Canada might soon grab the second spot on the list,” the report reads on Canada’s ranking. “Canada does especially well on the quality of its startups considering its relatively low population. One of the most impressive facts about Canada is that unlike the UK, it has three major hubs all contributing to its strength: Vancouver, Toronto, and Montreal.”

By city, no Canadian city made the top 10 global ranking, with Toronto sitting at the 11th spot, with the next Canadian city, Vancouver, sitting at 19. Montreal made the 34th spot.

Access the full report here.

Photo via Unsplash

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.