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Research firm Mattermark just released their top 15 startup city rankings and, brace yourself, Boston came up as third. Our city was edged out by NYC, which took second place, while Silicon Valley sat atop the rankings. The cause of our bronze finish, according to the firm, is our lagging funding activity over the past decade.
The study "analyzed over 21,000 angel, seed, Series A, Series B and Series C deals made between 2006 and today." Their findings show that Boston has gone through a slight decline in early and growth stage fundings. The report reads, "deal-making, consumer web and other companies are simply being founded and funded elsewhere at higher rates."
More specifically, Mattermark found our city’s startup funding activity has declined 20 percent in average share of dollar volume in the past 10 years. Comparatively, New York has more than doubled its relative share of the dollar volume invested during that same time period.
While the research firm claims our consumer space is weak, Boston isn’t hopeless. Mattermark applauded us as “the nation’s preeminent location for life sciences and other high tech deal-making”. Not to mention, in May of this year, D.C.-based incubator 1776 named Boston the top city for fostering entrepreneurship, emphasizing the sometimes true cliché that money isn't everything.
To get a more visual sense of Mattermark's findings, check out their graphs below.
