Wisconsin cities Madison, Milwaukee, Green Bay and Appleton are rising among global startup ecosystems ranked for their ability to propel entrepreneurs, according to a new report.
The 2020 StartupBlink report, which ranks 1,000 global startup hubs, shows that Madison rose 26 spots to No. 98, while Milwaukee jumped 31 spots to No. 132. Green Bay’s ranking of No. 446 was up 44 places and Appleton came in at No. 581, an improvement of 35 spots.
The StartupBlink report, published this week, is based on data from governments, municipalities, economic development corporations and startup databases, such as Crunchbase.
San Francisco came in at No 1., followed by New York at No. 2 and London at No. 3. Chicago came in at No. 13.
The report singles out Madison among the Wisconsin cities included in the report, which is home to fast-growing tech companies Fetch Rewards, Understory and EatStreet. The report says the city has seen impressive growth as a startup hub.
The city, also home to the University of Wisconsin-Madison, is ranked No. 2 for areas with a software publishing job concentration and saw a 30% growth in healthcare practitioners over the last decade, according to the report.
Reasons to relocate to Madison include a 37% increase in the business and financial sector since 2010, the report states, as well as the availability of several entrepreneurship support grants.
For Wisconsin tech generally, the state made strides in 2019 to position itself as a place for tech and startup growth. Northwestern Mutual in Milwaukee launched a $150 million fund to invest into startups. And TitletownTech, the venture hub and fund operated by the Green Bay Packers and Microsoft, officially opened.
“The positive showing of Wisconsin cities in StartupBlink’s global startup ecosystem ranking is a testament to the culture of innovation and entrepreneurial spirit that exists throughout our state,” said Aaron Hagar, the Wisconsin Economic Development Corporation’s vice president of entrepreneurship and innovation, in a statement. “Four of our local communities ranking highly among the top 1,000 globally showcases the strength and passion for startups and small businesses we see throughout Wisconsin, and is continued evidence that supporting entrepreneurs is good for our local communities, as well as the state’s overall economy.”
