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Recent years have seen the rise of an increasingly potent group of cities around the world that are generating new startups in creative and unique ways.
The 2015 edition of the Startup Genome Project from Compass provides a new ranking for the world’s leading startup cities.
The report is based on data from 11,000 global startup companies, interviews with more than 200 entrepreneurs worldwide, and data from Crunchbase and other sources.
Its ranking gauges the world’s leading startup ecosystems, the broad infrastructure of talent, knowledge, entrepreneurs, venture capital, and companies that make up a startup community.
Silicon Valley again tops the list, but we can also see the rise of significant startup ecosystems in cities around the world, including Tel Aviv and Singapore.
What can policy-makers and urban leaders do to better facilitate world-class startup ecosystems?
While the business, entrepreneurial, and technological communities remain their drivers, a recent report by the British innovation think tank Nesta outlines three key things governments can do to bolster such ecosystems:
1) Take a cross-disciplinary approach to champion innovation and entrepreneurship across functional areas and departments
2) Work with other outside governments to identify, address, and solve key problems
3) Think like a startup, not a government agency.
Startups appear to be gravitating to more energized urban centers.
Most of all, cities and urban leaders can and should work together to bolster their startup ecosystems.
That shift in thinking is also causing a new set of tensions between techies, local residents, and local governments.
Still, it makes little sense to dampen startups, innovation, and the entrepreneurial impulse, all of which drive growth and provide the revenues for much-needed improvements in transit and housing.
As rising startup urbanism puts additional pressure on housing prices in already pricey areas, now more than ever, it’s time to find a better balance between the two.
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