Seattle jumps to ninth place in the global rankings for the startup ecosystem – GeekWire
Seattle ranked ninth in the Startup Genome’s annual global rankings of startups, up one place from its position last year. The region also ranked second in North America in terms of ecosystem knowledge.
These rankings reflect how each region is going on its own “success factors,” which include performance, finance, market access, connectivity, knowledge, and infrastructure.
Startup Genome used data from more than three million companies, nearly 300 ecosystems and survey results from more than 10,000 emerging CEOs worldwide to create this report.
The report notes Seattle: “The birthplace of Microsoft and Amazon has attracted one of the largest pools of tech talent in the United States.” “This flow benefits the most from these two giants.”
Back in 2020, Seattle jumped three spots to break into the top ten and has stayed there ever since.
Once again, the rankings list artificial intelligence, big data, and analytics as Seattle’s main strengths, and credit the University of Washington as a “pioneer in machine learning and big data.”
The rankings also highlight life sciences startups in the region, noting the five Washington-based biotech companies that went public in 2021. These companies topped the nation in deal volume and total revenue, the report says.
According to the report, Washington state saw $8.5 billion invested in 549 venture capital deals in 2021, a 77% increase from the $4.8 billion raised in nearly 400 deals in 2020. The report adds that most of this activity occurred in Seattle.
The report notes that Seattle has $3.8 billion in early stage funding, and the total ecosystem value is estimated at about $109 billion compared to the global average of $28.6 billion.
“Seattle reaches trifecta for its startup ecosystem: top-tier talent, thriving accelerators and incubators, and a growing number of angel and angel investors,” Oren Etzioni, CEO of the Allen Institute for Artificial Intelligence, wrote in the report. “Seattle is poised to continue its impressive growth trajectory as a place to start and build the next big tech business.”