Startup Genome has released a treasure trove of data though its Startup Compass that ranks the technology startup ecosystems of cities around the world. Most of the Compass findings focus on Silicon Valley, London, and New York, which are ranked as the top three ecosystems in the world. But three Canadian cities make the list.
Toronto is ranked an impressive fourth on the list, ahead of some notables including Singapore, Paris, and Seattle. Vancouver ranks 16th, ahead of Berlin and Boston, while Montreal squeaks in at 25th.
The Startup Compass ranks ecosystems based on myriad factors, including “startup throughput,” success rate, availability of capital, mentorship, founder motivation, and many more. For example, Silicon Valley startups create 11% more jobs than NYC startups and 38% more jobs than London startups (job creation factor), while both London and NYC founders are typically better educated than Valley startup founders (founder education background factor).
Does this now make Toronto the official “Silicon Valley North?”
Map: Startup Compass