Isn’t it wonderful when people say something nice about you? That’s a feeling Greater Philadelphia has been experiencing a lot lately, as global publications help amplify what those of us who live here already know – this is a place with a great quality of life.
TIME magazine recognized it when it named Philadelphia one of the “World’s Greatest Places 2021. (July 2021). Outside magazine stated it when it placed Philadelphia on its list of 2021’s Best Towns (October 2021). Condé Nast Traveler spotlighted it when it designated Philadelphia a must-visit destination, one of only eight on its editors’ “The Best Destinations in the World: The 2021 Gold List” (December 2020).
Shout-outs like these are catching the attention of would-be entrepreneurs and startups setting up shop, talent looking to put down roots, and companies searching for sites to expand or relocate. The momentum is also noticeable in skyrocketing venture capital investment, most significantly in the life sciences and technology sectors.
Pair that with recent global rankings from companies such as Startup Genome, and it’s easy to get excited about working, living, learning, growing, and creating opportunity in Greater Philadelphia.
“Philadelphia moved up an impressive 15 spots, rising from #43 last year to #28 this year,” Startup Genome said in the key findings of its “Global Startup Ecosystem Report 2021.” Tech talent was cited as one of the reasons for Philadelphia’s leap forward in the rankings. “Its many academic institutions turned out more than 25,000 tech graduates between 2015 and 2019, and continues to attract a young talent pool with millennials comprising almost 28% of Philadelphia’s population,” the report stated. Another reason to move your startup to Philadelphia, it said, is a low cost of living. “Compared to other nearby east coast tech hubs, Philadelphia offers a substantially lower cost of living, including affordable rents and home prices.”
The region also got high marks in Startup Genome’s “Global Life Sciences Ranking 2021” report, where it listed Philadelphia #8 on its top 25 global list. It noted strengths in four success factors – policy, performance, funding, and infrastructure, and stated, “Philadelphia is built on the foundation of innovation, from American democracy to cures for cancer.” It added, “Alumni from Philadelphia’s universities launched more than 600 VC-backed companies in the past 10 years, raising an average of $6 million in their first round.”
Headlines and rankings such as these are a great way to get the conversation started around other attributes that are deserving of buzz. For example, not only does Greater Philadelphia offer a great quality of life, impressive tech talent, a notable ecosystem for innovation, and an affordable cost of living, it’s also a connected and collaborative environment for doing business, and, with resources such as Philadelphia International Airport – it’s accessible to the world.