Startup Genome and the Global Entrepreneurship Network released the 2021 Global Startup Ecosystem Report on Wednsday, and DC is at the top of the pack.
Coming in at #11 once again, this means the region not only holds its own against some heavyweight champions, but also maintained its presence in a particularly troublesome time. And, despite the fact that it came in at the same spot as last year, the region actually improved its grade across almost all of the categories that the report measures (Baltimore unfortunately didn’t make the cut, but we can be courteous and extend our win to them, as well).
The report, which ranks 140 ecosystems across the globe, analyzes the startup markets based on performance, funding, connectedness, market reach, resource attraction, experience and talent. Unsurprisingly, Silicon Valley holds on to the #1 spot, with New York City and London tied for second. Beijing comes in at #4 and Boston at #5 (another noteworthy mention: Philadelphia moved up 15 ranks from last year, now ranked at #28).
Criterion are graded on a scale of 1-10. Here’s how DC measured up:
- Performance: 7
- Funding: 7
- Connectedness: 6
- Market Reach: 8
- Knowledge: 1
- Talent: 8
Compared to last year, DC gained two points in performance, one point in connectedness, one point in market reach, but stayed the same in talent and knowledge (does this mean we have more to do as a news organization covering startups?). DC landed several spots above Stockholm, last year’s #10 spot, but was surpassed by Tokyo — #15 in 2020 and #9 in 2021.
“Entrepreneurs, policymakers, and community leaders are working hard all over the world to build productive and inclusive technology ecosystems that are engines of economic growth and job creation for all,” said JF Gauthier, founder and CEO of Startup Genome in a statement. “The Global Startup Ecosystem Report is the foundation of knowledge where we, as a global network, come together to identify what policies actually produce economic impact and in what context.”
The ones to watch
- Forbes named 20 DC founders and entrepreneurs on its Forbes Next 1000 list. Noteworthy mentions include HUED’s Kimberly Wilson, Workchew Founder Maisha Burt, Happied Cofounder Sharon Cao and Gabriela Bell of Organized Q.
- Fiverr and 1863 Ventures have teamed up to launch a Future Collective Fellowship Program, a national accelerator and fellowship program for Black-owned businesses. DC’s Appdrop and Budget Collector both made the cut.
- Georgetown Entrepreneurship has named its 25 entrepreneurs and experts-in-residence, which includes execs from EverFi, TransitScreen and Fifth Tribe. See the full list here.
- Rockville’s Silver Diner is the winner in the brand-new Technology Trailblazers category for the RAMMY Awards, which denotes the top restaurants in the DMV.
- Virginia Tech broke ground on its Innovation Campus last week. The Alexandria campus, which is set to be complete in 2024, is a multi-million dollar project and part of a 65-acre, mixed-use district plan near Washington National Airport, Potomac Yard Metro Station and Amazon HQ2.
- Pennsylvania marketing firm Kegerreis Digital Marketing is moving headquarters to Danville, Virginia, and adding 62 new roles.
- New York cybersecurity firm Axonius is launching a new subsidiary in Maryland, Axonius Federal Services. Its currently hiring engineers and support staff for the team.
- Lynk, the Falls Church, Viriginia firm building a space-based cell phone network, inked its first two contracts with mobile phone operators, Aliv in the Bahamas and Telecel Centrafrique in the Central African Republic.
- Bethesda Green is accepting applications for its Spring 2022 Accelerator Cohort through October 6. Founders in the DC/Maryland/Virginia area are encouraged to apply, particularly those based in or looking to move to Montgomery County.
- Reston, Virginia-based identity management tech company Neustar will be acquired by TransUnion, a credit reporting firm, for $3.1 billion. The deal is one of the largest acquisitions in DC of the year.
- Space data and analytics firm Spire, based in Vienna, Virginia, will acquire Ontario’s exactEarth, a fellow data firm, for $161.2 million. The company will continue operating out of Ontario and function as a subsidiary of Spire.
- Leesburg, Virginia workflow automation firm Thirdera announced Wednesday that it acquired UX/UI design agency APPOXIO, which is based in Calgary, Canada. Terms of the deal were not disclosed.
- Neosystems, a professional services company in Tysons Corner, Virginia, will be acquired by Chicago private equity firm High Street Capital for an undisclosed amount.
- Herndon geospatial tech firm BlackSky Holdings is officially public following its merger with SPAC Osprey Technology Acquisition. The company received $283 million in gross proceeds through the deal.