Los Angeles named the #3 startup city in the world

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For the second time in three years, Los Angeles has nabbed the #3 spot on Compass’ Global Startup Ecosystem rankings. 

 

Silicon Valley and New York grabbed the #1 and #2 slots respectively, and Boston and Tel Aviv rounded out the top five.

 

Compass collected insights from 11,000 startup surveys and over 200 interviews with entrepreneurs in 25 countries. The rankings were based on a city's overall performance, funding, talent, market reach, and startup experience.

 

If you have time for a 150 page in-depth analysis, you can check out the full report here, for all you non-scholars here is what you need to know:

 

With the third most active tech startups (between 5,500- 8,300), the second largest local market in North America, and an estimated 200,000 engineers being produced from the city’s universities, LA ranks high in all of the aforementioned categories. LA startups teams are also 28% women, 10% higher than the North American average. 

 

Los Angeles’ lowest score was in Talent where they landed at #10. The report explains that higher salary averages (19% percent higher than the North American average) and higher number of remote workers (24% higher than average) are key factors in the ranking.