Pittsburgh’s startup ecosystem ranks among the top 25 emerging ecosystems in the world as a place to build and grow a company.
That's according to a new report from research firm Startup Genome, which put Pittsburgh in spot No. 23 in its 2021 GSER global list of Emerging Startup Ecosystems after looking at more than 275 regional ecosystems across the planet for comparison. The metrics Startup Genome used to analyze these regions included factors like startup growth and activity, innovation and research, capital availability, talent and support for companies, among others.
Per the report, Pittsburgh has created $5 billion in ecosystem value and has seen $180 million in total early stage funding over the past two-and-a-half years. Startup Genome listed Pittsburgh's median Series A funding round as reaching $3.4 million, and its average software engineer salary is $81,000, both surpassing the global figures of $3 million and $44,000, respectively.
"Pittsburgh is leveraging its technical strength in AI and autonomous systems to build a dynamic and diverse startup ecosystem," the report said on Pittsburgh's ecosystem profile page. "Pittsburgh’s startup ecosystem makes you part of a community of purpose-driven builders, makers and innovators who work local but have global impact."
The report also noted the region's strong advanced manufacturing and robotics sectors, as well as its life sciences and cleantech companies as being elements that contribute to Pittsburgh's sub-sector strengths.
No. 1 on the emerging ecosystems list was Mumbai, India. Startup Genome also listed the top 30 overall ecosystems: Silicon Valley remained No. 1 on that list, a title it has had since 2017, followed by a tie at second place for New York and London.
A copy of the full report can be found here after first making an account with Startup Genome.
