Toronto ranked 24th of 1,000 cities across 100 countries in a recent study released by StartupBlink, which ranks cities in terms of their startup potential.

The sources used to determine the rankings are generated by an algorithm and are crowdsourced from many locations across the globe. The rankings are based on the number of startups, the quality of startups, and the business environment that allows startups to easily conduct their business.

Toronto dropped its ratings in the past year, but it is worth noting that Toronto is top 5 in the world in terms of Coronavirus Innovation Cities Rankings.