Philadelphia Held Its Top-30 Ranking On This List Of Global Startup Ecosystems

The region kept its #27 spot on Startup Genome’s report for another year. Per the report, Philly created $68 billion in ecosystem value between 2020 and 2022 — and life sciences, especially, got kudos.

Philadelphia has once again ranked in the top 30 of Startup Genome’s Global Startup Ecosystem Report.

The region stuck to its #27 spot on the global list of best ecosystems for growing companies, which it cracked in 2022 after ranking #28 in 2021. Over the last three years overall, it’s moved up 16 spots on the list.

Startup Genome, an innovation policy advisory and research firm, partnered with local organizations Ben Franklin Technology Partners of Southeastern Pennsylvania, Drexel University and the University City Science Center to get a better idea of the Philly startup ecosystem’s strengths and weaknesses.

“Philadelphia continues to build on its strengths in the life sciences, boasting several high-profile exits in recent years,” said Marc Penzel, founder and president of Startup Genome, in a statement. “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.”

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