Canada’s Entrepreneurial Ecosystem Ranks Second in the World
For the second year in a row, Canada’s entrepreneurial ecosystem rank is #2 according to the Global Entrepreneurship Index (GEI) released each year by the Global Entrepreneurship Development Institute.
The GEI not only ranks more than 130 countries on their entrepreneurial ecosystems but also provides a framework for understanding how those countries measure up against neighboring ecosystems. The report indicates that countries in different regions have vastly different issues that need to be addressed for entrepreneurial growth. The Index identifies those regional issues and also provides examples of model systems for others in the area to follow.
Canada’s scores on GEI’s three respective sub-indexes are:
- Attitudes toward entrepreneurship: 78.1 (out of 100) ranking Canada a 2 out of 132;
- Entrepreneurial abilities: 81.3 ranking Canada a 4 out of 132;
- Entrepreneurial Aspirations: 79.0 ranking Canada a 3 out of 132.
Comparing these sub-indices shows that Canada’s entrepreneurs have relatively good abilities and skills in the context of their entrepreneurship environment but have less positive individual and institutional attitudes towards entrepreneurship. If the Attitudes gap is addressed comprehensively, it would improve the health of Canada’s entrepreneurial ecosystem. In addition, this report suggests that Canada may benefit most from programs focused on strengthening Entrepreneurship Career Status and the degree to which individuals Know Entrepreneurs.
The full report can be downloaded here.
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