Toronto has come out on top once again.
The 10th Annual Innovation Cities Index was released for 2016-2017, and Toronto made it to the top ten out of 100 global cities.
London, England, took the number one spot, followed by New York and Tokyo, according to global innovation data agency 2thinknow.
The innovation index classified 500 cities into four bands for innovation based on scores derived from 162 indicators for measuring conditions conducive to creating innovation in a city, stated 2thinknow in a release. After the classification process, the cities are ranked by the analysts.
Analyst’s insights behind the index is that the cities with higher rates of innovation will “experience higher economic output, and be perceived as the best destinations to invest in commercial product, service or social innovation without a specific industry focus.”
Looks like good news for Toronto.