Ben Franklin Technology Partners of Southeastern Pennsylvania, Drexel University, University City Science Center, and Startup Genome have teamed up with Startup Genome to spotlight Philadelphia’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• 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,” says Secretary Rick Siger, Pennsylvania Department of Community and Economic Development.

"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."

For more insights and an overview of Philadelphia’s startup landscape, visit the Philadelphia ecosystem page.

To learn more about startup ecosystems around the world, view the full, free Global Startup Ecosystem Report.