Seattle is among the world’s leading startup ecosystems, according to a new report.

The 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was issued on June 10th, and like previous years, Seattle made the ranking.

According to the report, which is in its 12th year, the GSER “analyzes data from over 4.5 million companies across 300+ entrepreneurial innovation ecosystems and features rankings that indicate which ecosystems are currently driving innovation and deep knowledge about startup trends around the world.”

This year, the report looked at the top 40 global ecosystems, and Seattle ranked as 20th overall.

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Image via The Global Startup Ecosystem Report

In its ranking, GSER states that Seattle is an “ideal breeding ground for future unicorns,” due to its vibrant tech ecosystem.

“Seattle is the fourth most diverse job market for female tech graduates and was ranked as the best place to find workers skilled in the latest technology trends in the Cities on the Tech Frontier report,” it states.

“Real estate firm CBRE named Seattle the top destination for tech workers with 0-to-3 years of experience and the #2 inbound market for tech talent growth across all experience levels in 2023. There are more than 100 engineering centers in Seattle established by the likes of Microsoft, Amazon, Meta, Google, and Apple, employing thousands of top AI researchers and engineers.”

It also adds that Seattle attracts a host of startup-related events each year, including TECHSPO Seattle 2024 in April, Women Impact Tech Virtual Accelerate Conference Seattle 2024 in May, the biannual Seattle Angel Conference, and the GeekWire Summit.

While it is still in good standing, Seattle did drop 10 spots, as it was in 10th in the 2023 report.