Philadelphia Ranks Among Best Startup Cities in Nation as Funding Freeze Shows Signs of Thawing

Philadelphia ranks among the top ten best startup cities that have at least 1 million residents, as the funding freeze that has lasted several years starts to ease, writes Ryan Mulligan for the Philadelphia Business Journal.

The Philadelphia innovation ecosystem placed eighth in a recent CommercialCafe ranking, beating out cities such as Chicago, Los Angeles, and New York. The ranking considered the cost of doing business, networking opportunities, density of local startups, college-educated workers, and startup survival rates.

Philadelphia ranked first for the highest new business survival rate at 66.2 percent, tying with second-ranked San Antonio, Texas. Another advantage is the low cost of office and coworking space.

According to Antonia Dean, a Philadelphia-based venture capital investor with Black Operator Ventures, a growing collaboration among startup stakeholders along with the city’s tight-knit culture sets Philadelphia apart from other large cities.

“[There is] much more of an attitude and an energy around ‘A win for anyone in Philadelphia is a win for everyone in Philadelphia,’ which is an idea I really believe in as we start to grow our startup activity here,” she said.

Read more about where Philadelphia ranks among the best cities for startups in the Philadelphia Business Journal.

Originally published in Philadelphia TODAY