Edmonton’s Innovation Ecosystem Value Grows 236% Since 2020

Edmonton, June 15, 2022 (GLOBE NEWSWIRE) — The 2022 Global Startup Ecosystem Report (GSER) by Startup Genome launched this week at London Tech Week. The GSER is the world’s most comprehensive, data-driven research on startups with 280+ entrepreneurial innovation ecosystems and 3 million startups analyzed. The report includes a ranking of the leading 140 ecosystems, continental insights and founder-focused articles from thought-leading experts.

Innovate Edmonton worked in concert with Startup Genome to showcase Edmonton’s innovation ecosystem in the report, with the following significant highlights:

  • Ecosystem value increased by 236% since 2020: currently $641 million, up from $191 million in the 2020 report and $435 million in the 2021 report
  • #4 North American ecosystem in affordable talent, measured by ability to hire tech talent
  • Top 25 North American emerging ecosystem in funding, measured by innovation through early-stage funding and investor activity
    • Early-stage funding increased 50%: from $89 million in the 2021 report to a current $134 million
    • Median seed round increased 47%: from $400K in the 2021 report to a current $588K
  • Skilled talent and affordability are cited as reasons a startup should move to Edmonton
  • Artificial intelligence (AI), machine learning (ML), big data and analytics, and life sciences sectors are highlighted for their density of talent, support resources and startup activity

“Edmonton’s innovation sectors are firing on all cylinders, emerging from the pandemic with phenomenal growth and generating a 236% increase in ecosystem value since 2020,” said Catherine Warren, Innovate Edmonton CEO. “We continue to build our city as an inclusive global innovation capital, delivering solutions to today’s thorniest challenges, such as the climate emergency, public health, food security, digital inclusion, social justice and Reconciliation.”

“Startup Genome is honored to work with Innovate Edmonton in accelerating ecosystem growth, job creation and impact in Edmonton,” shares JF Gauthier, Founder & CEO of Startup Genome. “We are excited about Edmonton’s startup community’s future because of the increasing investment in its innovative entrepreneurs.”

The GSER is created in partnership with the Global Entrepreneurship Network, Dealroom and Crunchbase. The 2022 report provides insights and guidance to public and private leaders on how to foster thriving startup communities — the #1 engine of job creation and economic growth. Discover how140 entrepreneurial ecosystems across the world stack up and view the full report here: https://startupgenome.com/report/gser2022.

About Innovate Edmonton
Headquartered in Alberta’s capital city, Innovate Edmonton unites and promotes home-grown innovation as a gateway to solving the world’s most pressing problems. We harness the power of the public and private sectors, ground-breaking academic research, and purpose-driven investment to build a shared prosperity and open international markets. From sustainable climate solutions to public health and digital inclusion, Edmonton is a leading global centre for inspiration, ingenuity and inclusion. Learn more about Innovate Edmonton and Startup Edmonton, a program division of Innovate Edmonton.

About Startup Genome
Startup Genome is the world-leading policy advisory and research organization for public and private organizations committed to accelerating the success of their startup ecosystem. We have advised more than 125 clients across six continents in 45+ countries to date. Working side-by-side with 300 partner organizations, our frameworks and methodologies have become instrumental to define and execute robust policies and programs that drive lasting change. Many of the world’s leading governments and innovation-focused organizations have joined our knowledge network to cut through the complexities of startup ecosystem development and fuel sustained economic growth. Follow our work at startupgenome.com, and follow us on LinkedIn and Twitter.


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