The Philadelphia region climbed two spots to 25th place in the latest rankings of the top 40 global ecosystems for entrepreneurs and startups.

The Philadelphia region’s key attributes for startups, according to the study, are local educated talent and a “deeply collaborative” ecosystem. The report also points to the city’s Jump Start program, which supports new businesses through measures including exempting them from the business income and receipts tax (BIRT) during their first two years of operation.

The Philadelphia region, the report found, created $92 billion in ecosystem value — a measure of economic impact calculated by the value of exits and startup valuations — between July 1, 2021, and Dec. 31, 2023.

The region also ranked in the top 25 globally and the top 10 in North America for “knowledge,” which measures innovation through research and patent activity.

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