Pittsburgh Continues to Advance in Global Startup Ecosystem Ranking
Pittsburgh is highlighted in the world’s paramount report on enriching startup and economic growth, ranking as the #13 global Emerging Ecosystem overall
Pittsburgh is highlighted in the 2022 Global Startup Ecosystem Report (GSER) that was launched today at London Tech Week by Startup Genome. The GSER is the world’s most comprehensive research on startups and includes over 280 entrepreneurial innovation ecosystems, with over 3 million startups analyzed each year. Pittsburgh is ranked this year as the 13th global Emerging Ecosystem overall, up from the 23rd last year, indicating significant progress and promise in the Pittsburgh region.
“When it comes to launching a new tech startup Pittsburgh is open for business,” said Mayor Ed Gainey. “We are proud to see our city jump 10 spots on the Global Startup Ecosystem Report, and are eager to dig in and do more work so we can continue to climb in the rankings. Tech isn’t the economy of tomorrow, it is the economy today, and by working together with our regional partners we can ensure that the tech ecosystem in Pittsburgh can create pathways towards prosperity for everyone in our city.”
“We are proud to see our city jump 10 spots on the Global Startup Ecosystem Report, and are eager to dig in and do more work so we can continue to climb in the rankings. Tech isn’t the economy of tomorrow, it is the economy today, and by working together with our regional partners we can ensure that the tech ecosystem in Pittsburgh can create pathways towards prosperity for everyone in our city” said Mayor Ed Gainey.
The InnovatePGH Partnership, Pittsburgh Regional Alliance, and Innovation Works, in collaboration with the City of Pittsburgh, have worked in concert with Startup Genome to showcase Pittsburgh’s entrepreneurial ecosystem in the 2022 GSER. Key findings on the Pittsburgh region are listed below:
Global ranking as the #13 Emerging Ecosystem overall, up from #23 last year.
Top 20 Global Emerging Ecosystem, Top 25 North American Ecosystem, and #3 North American Emerging Ecosystem in Funding — measures innovation through early stage funding and investor’s activity
Top 25 Global Emerging Ecosystem, Top 30 North American Ecosystem, and #5 North American Emerging 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
Top 20 Global Emerging Ecosystem, Top 25 North American Ecosystem, and Top 10 North American Emerging Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding
Created $11.6b in Ecosystem Value from July 1, 2019 to December 31, 2021
The Pittsburgh Innovation District, high-quality tech talent, and affordability are cited as reasons a startup should move to Pittsburgh
The Advanced Manufacturing & Robotics, Life Sciences, and Cleantech sectors are highlighted for their density of talent, support resources, and startup activity
Jake Loosararian, Founder and CEO at Gecko Robotics, a Pittsburgh-based startup, says, “Pittsburgh’s improvement as a startup ecosystem is important both in terms of reality and recognition. The recognition is dramatic, while the reality has been steady and continuous, not overnight – reflecting the region’s history of industrial leadership, ingenuity, and old-fashioned grit. It’s also important to highlight Pittsburgh as a leader in tech generally – we’re the robotics capital, but we’re also leaders in software, biotech and biomanufacturing, and consumer internet. For a fast-growing startup, Pittsburgh is a great place to be for the core reasons outlined by GSER: the concentration of tech talent, the intensive support for R&D, and our affordability and livability (which will only become more important with rising inflation, increased focus on quality of life, and the decline of traditional tech hubs). Pittsburgh offers venture investor innovation and growth, and value investor fundamentals and durability.”
The GSER was created in partnership with the Global Entrepreneurship Network, Dealroom and Crunchbase. The 2022 Edition provides insights and guidance to public and private leaders on how to foster thriving startup communities — the #1 engine of job creation and economic growth.
The full report is available here: https://startupgenome.com/report/gser2022
About InnovatePGH Partnership
InnovatePGH is focused on accelerating Pittsburgh’s status as a global leader in the innovation economy through programs and initiatives such as ASTRI, Avenu Workspaces, Pittsburgh Innovation District, the University Talent Alliance and MovePGH. The InnovatePGH partnership is a next generation public-private partnership powered by a coalition of civic institutions representing the regions’ university, business, philanthropic, and government leadership.
About Pittsburgh Regional Alliance
The Pittsburgh Regional Alliance (PRA) is the economic development affiliate of the Allegheny Conference on Community Development. The PRA attracts strategic investment opportunities and talent to the 10-county southwestern Pennsylvania region and supports the growth of existing regional businesses. The PRA assists companies that have an interest in investment in the Pittsburgh region and provides services such as real estate identification, data and information support, and connections to local employers, schools, and government at no cost to the company.
About Innovation Works
Innovation Works (IW) provides investment and assistance to the Pittsburgh region’s most promising technology startups and is the only regional investment fund focused solely on this region, investing more than $113 million in over 600 companies since its formation in 1999. This activity makes Innovation Works the most active seed-stage investor in the region and one of the country’s most active overall. Innovation Works is one of four centers in the statewide Ben Franklin Technology Partners network that helps build PA’s innovative companies, diversify the state’s economic drivers and capitalize on the world-class research conducted at the renowned universities throughout the state. IW is partially funded by the Commonwealth’s Ben Franklin Technology Development Authority. Helping software, hardware and life sciences companies get to their next stage of economic growth, IW provides investment, expert guidance, and access to networks to a wide array of founders. In an anonymous survey self-reported by founders and leaders of portfolio companies to receive IW investment in the past ten years, nearly 60% of those leaders were women and/or people of color. To learn more about Innovation Works, the organization’s commitment to inclusive innovation, and more please visit www.innovationworks.org.
About Startup Genome
Startup Genome is the world-leading policy advisory and research organization for public and private organizations committed to accelerating the success of their startup ecosystem. We have advised more than 125 clients across six continents in 45+ countries to date. Working side-by-side with 300 partner organizations, our frameworks and methodologies have become instrumental to define and execute robust policies and programs that drive lasting change. Many of the world’s leading governments and innovation-focused organizations have joined our knowledge network to cut through the complexities of startup ecosystem development and fuel sustained economic growth. Follow our work at startupgenome.com, and follow us on LinkedIn and Twitter.