SAN FRANCISCO, Calif. — June 10, 2024 — The 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network launched today at London Tech Week. The GSER, powered by the world’s most quality-controlled dataset on startup ecosystems, analyzes data from over 4.5 million companies across 300+ entrepreneurial innovation ecosystems. It provides compelling new insights and deep knowledge about startup trends around the world and ranks the Top 40 global ecosystems, emerging ecosystems, and an expanded regional ranking.
Ben Franklin Technology Partners of Southeastern Pennsylvania, Drexel University, and the University City Science Center have teamed up with Startup Genome to spotlight Philadelphia’s entrepreneurial ecosystem in the #GSER2024 –
- Ranking as the #25 Global Startup Ecosystem, moving up two spots from GSER 2023
- The ecosystem created $92 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 40% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.
- Top 25 Global Ecosystem and Top 10 North American in Knowledge — measures innovation through research and patent activity
- Top 25 Global Ecosystem and Top 15 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 25 Global Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity
- Top 30 Global Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors
- The AI, Big Data & Analytics, Advance Manufacturing and Robotics, and Life Sciences sectors are highlighted for their density of talent, support resources, and startup activity
- The Sustainable Jump Start program, local educated talent, and a deeply collaborative ecosystem, are cited as reasons a startup should move to the ecosystem
“The innovation ecosystem in Philadelphia continues to thrive thanks to world-leading research universities and economic development partners. Philadelphia’s innovation leadership plays a critical role in elevating Pennsylvania’s position as a global destination for innovation.” — Secretary Rick Siger, Pennsylvania Department of Community and Economic Development
The Report is driven by a consortium of representatives from 40+ countries and looks at the current state of startup activity and related investment, providing insights and guidance to public and private leaders on how to foster thriving startup communities — the #1 engine of job creation and economic growth. Contributions from expert thought leaders and local key players further enrich the report's extensive, evidence-based findings, which are the product of over a decade of Startup Genome's independent research and policy work.
"Startup Genome is eager to highlight the remarkable growth observed in the Philadelphia startup community," shares Marc Penzel, Founder & President of Startup Genome. "We were thrilled to see Philadelphia improve its ranking this year and expect big things in the future as its recent large exits spur the next generation of innovative startups."
ABOUT BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA
Ben Franklin Technology Partners of Southeastern Pennsylvania which is ranked among the most active seed and early stage investors in the US, Ben Franklin Technology Partners of Southeastern Pennsylvania is a venture development organization that helps high-growth innovative enterprises plant and nurture their roots in the Philadelphia region. The nonprofit has supported more than 2,000 companies to deliver an economic impact of more than $5 billion and over 32,000 jobs created in the Philadelphia region.
ABOUT DREXEL UNIVERSITY
Drexel University is a comprehensive global research university with a unique model of experiential learning that combines academic rigor with one of the nation’s premier cooperative education programs. Drexel is classified as “R1: Doctoral Universities” by the Carnegie Classification of Institutions of Higher Education, a designation given to U.S. research institutions with the highest level of research activity.
ABOUT UNIVERSITY CITY SCIENCE CENTER
University City Science Center is Philadelphia’s premier catalyst of entrepreneurial activity, healthcare innovation, and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor, and economic development partner for young technology companies. Working alongside industry partners and leading research and academic institutions, the Science Center has supported over 700 early-stage companies. Over 200 of those companies remain in Greater Philadelphia driving $7.6 billion in annual regional economic impact.
ABOUT STARTUP GENOME
Startup Genome is the world-leading innovation ecosystem development organization, having worked with more than 160 economic and innovation ministries and public/private agencies in over 55 countries. We work to catalyze startup success and ecosystem growth and ensure that all cities and countries capture their fair share of the new economy. Our evidence-based ecosystem research, advisory, and scaleup programs are rooted in global experience with the world’s largest AI-curated startup dataset and proprietary instruments developed from over a decade of primary research.
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For interviews and further inquiries, please contact:
Franzis Walther
Manager, Operations and Communications, Startup Genome franzis@startupgenome.com
+49 163 3449233
