Colorado made a big showing in a recent report on the world’s top startup ecosystems, with Denver-Boulder ranking in 21st among 150 ecosystems measured.
Denver-Boulder made the Global Startup Ecosystem Ranking’s top for the first time in 2019, with talent and industry experience driving the ecosystem’s ranking upward. That said, the report calls out Denver-Boulder as a runner-up for the list since 2012.
The Global Startup Ecosystem Ranking is created by evaluating 150 tech ecosystems based on factors that tend to correlate with startup success on a global scale. These factors range from available funding and the success of existing companies, on the one hand, the creation of new intellectual property, talent availability, and an ecosystem’s market reach on the other.
The report also attempts to capture the impact of harder-to-measure factors like government policy, incubators and universities.
The ranking was published by Startup Genome and the Global Entrepreneurship Network, which both work to promote innovation in cities around the world. Startup Genome’s board includes industry and government representatives from North America, Europe, Australia and Asia.
Unsurprisingly, the United States made its mark on the rankings with a whopping 12 ecosystems on the list. Silicon Valley maintained its spot on the top, followed by New York City in second. Boston and Los Angeles placed fifth and sixth, respectively, followed by Seattle (12), Austin (16), Chicago (17), D.C. (19), San Diego (20), Denver-Boulder (21), Atlanta and Miami (tied for 26).
Talent put Colorado tech on the map
Denver-Boulder drew high marks in access to funding, with a score of eight out of 10 possible. This puts the ecosystem on par with hubs like Seattle, Berlin and Shanghai, and above cities like Sydney, Vancouver and Singapore.
The ecosystem landed high marks for local connectedness, and top marks for country-level measures like intellectual property protections and the size of the local market. But what really helped Denver-Boulder stand out in the rankings was the quality and supply of local tech talent.
No wonder Silicon Valley companies keep coming here.