Report: Canada ranked fourth startup ecosystem globally as Toronto, Vancouver drop for second year
Despite being ranked in the top four, Canada has fallen one spot in StartupBlink’s 2020 global startup ecosystem rankings, as major tech hubs Toronto and Vancouver have also seen their ecosystem rankings drop. The United States, United Kingdom, and Israel, along with Canada, once again all held on to the top four spots for countries with the strongest startup ecosystems. Toronto, Vancouver, and Montréal are listed in StartupBlink’s top 50 ecosystems, though there is now not a single Canadian hub in the top 20 cities. In its rankings report, StartupBlink said the main issue separating Canada from the top three countries is Canada’s ability to create unicorns and “highly popular” startups. In a new section of the report focused on COVID-19, Canada ranked third in the world for COVID–19 innovation, and Toronto ranked fourth in the world.