Pittsburgh Ranked as Top-25 Emerging Startup Ecosystem Globally in Worldwide Report
The 2021 Global Startup Ecosystem Report, by Startup Genome and Global Entrepreneurship Network, Ranks Pittsburgh #23
Pittsburgh, PA - The 2021 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network, which launched today in London, England, announced that Pittsburgh ranks #23 in the report’s list of Emerging Startup Ecosystems globally, one of just 28 U.S. cities ranked in the worldwide report. Pittsburgh joins globally-recognized startup and innovation cities such as Silicon Valley, New York, London, Boston, Beijing, and Tokyo in this list. Read the report’s Pittsburgh ecosystem page here.
Pittsburgh’s ranking in GSER, the world’s most comprehensive and widely-read research on startups, is thanks to a strong partnership between InnovatePGH, Innovation Works, and the Pittsburgh Regional Alliance. These three organizations worked together to provide data and metrics about Pittsburgh's startup and innovation ecosystem, the global impact it has and the opportunity it offers to entrepreneurs and founders worldwide. GSER looks at 280 entrepreneurial innovation ecosystems and three million startups. The report includes a ranking of the leading 140 ecosystems in the world, breakdowns by continent with regional insights, and founder-focused articles from thought leaders and experts around the world.
““Pittsburgh’s strong ranking in the 2021 GSER demonstrates the significant collaboration between InnovatePGH, Innovation Works, the Pittsburgh Regional Alliance, and the leaders of Pittsburgh’s startup ecosystem. It is thanks to our coordinated effort that our city and region continue to be recognized globally for groundbreaking work in the innovation and startup sectors. We look forward to continuing to work together to ensure the world knows what we know locally: that Pittsburgh is a globally-competitive ecosystem where many of the world’s greatest problems are solved by our home-grown startups.”
"Innovation Works has been part of the growth of Pittsburgh's startup ecosystem from the beginning -- we have experienced the city's rapid growth and transformation into a global hub for future-oriented innovation and entrepreneurship,” said Rich Lunak, President & CEO of Innovation Works. “Our supportive ecosystem has allowed countless large and small startups to thrive, setting in motion a domino effect of job creation, opportunity, and increased return on investment, all of which have significantly benefited the local economy, while positioning us on a global scale."
“In Pittsburgh, we seize opportunities. The world of entrepreneurs, founders and investors needs to recognize Pittsburgh as a place that welcomes and supports the building of remarkable things," said Mark Anthony Thomas, President of the Pittsburgh Regional Alliance, the business investment affiliate of the Allegheny Conference on Community Development. "Through Startup Genome, we have a platform for connecting with this important audience and communicating our value proposition through data and anecdotes even as we learn from and engage with our peers about how to further boost our profile with the startup community worldwide -- this is how Pittsburgh's startup ecosystem will grow and prosper exponentially in the years to come.”
"Investing in Pittsburgh does not disappoint: the startup ecosystem and economy here offer high yield, high reward investment opportunities, backed by a culture of collaboration and partnership unseen in other cities,” said Ilana Diamond, Managing Director of 412 Venture Fund. “Pittsburgh's ranking in this year's GSER reflects how the world is growing to see us -- as a place that champions creativity, takes a chance on world-changing ideas, and positions new companies for success."
“Starting our company in Pittsburgh was an easy choice for us. The top-tier research and development powerhouses of Pitt and CMU, coupled with the city’s openness for all things new and innovative, made the decision to set our roots here obvious, and we have not been disappointed. Since founding in 2016, our company has grown several-fold, thanks to many of the strength areas highlighted in GSER, particularly the access to high-quality talent, which includes a team of physicians, researchers, engineers, and designers who are dedicated to bringing groundbreaking new science out of the lab and into people’s lives. I expect this report to bolster these trends in the years to come, generating even more investment, talent, resources and opportunity, and grow our startup ecosystem even more. We are very excited for what’s to come for both Apollo and the city of Pittsburgh.”
Pittsburgh’s standing in the 2021 GSER include:
Top 30 North America Ecosystem and Top 20 Global Emerging Ecosystem in Funding—measures innovation through early-stage funding and investor activity
Top 30 North America Ecosystem in Talent & Experience—measures long term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem
Created $5 billion in Ecosystem Value with $180 million in total early-stage funding over the last 2.5 years
High-quality tech talent and the Pittsburgh Innovation District are cited as reasons a startup should move to Pittsburgh
The local Advanced Manufacturing & Robotics, Life Sciences, and Cleantech sectors are highlighted for their density of talent, support resources and startup activity.
The 2021 GSER provides insights and guidance to public and private leaders on how to cultivate thriving startup ecosystems, support existing startups and attract new ones. Startups, per the report, are the No. 1 engine of job creation and economic growth.
“Entrepreneurs, policymakers, and community leaders are working hard all over the world to build productive and inclusive technology ecosystems that are engines of economic growth and job creation for all,” said JF Gauthier, Founder & CEO of Startup Genome. “The Global Startup Ecosystem Report is the foundation of knowledge where we, as a global network, come together to identify what policies actually produce economic impact and in what context.”
Read the full 2021 GSER here.