Toronto has been named one of the leading healthtech capitals of the world.
The Healthtech Index, released by software consulting firm Moove It, ranked Toronto’s healthtech ecosystem the 20th best in the world out of 85 cities.
The study assessed each location against 18 factors that indicate the maturity and advancement of their healthtech industry. Each city was then given a score out of 100.
Factors included the number of healthtech startups, the amount of research and development (R&D) funding, and salary levels.
Toronto’s score of 56.83 placed it just above Miami and just below Beijing. The city’s highest-scored factor was dental care, while prosthetics were the lowest.
With a perfect 100, Boston took first place on the list. New York City came second with a score of 85.89, followed by San Francisco’s 79.71.
Los Angeles and Minneapolis rounded out the top five, respectively. In fact, nine out of the 10 top spots went to American cities.
To determine the rankings, researchers first looked at the levels of investment into healthtech from both public and private sources in each city.
They then assessed the human capital allocated to healthtech in each location, and, finally, determined how many healthtech companies were situated in each city in sectors such as dentalcare and gynecology.
“The result is a comprehensive study of the prevalence and maturity of the healthtech ecosystem in 85 global cities,” researchers said.
“[It] reveals the healthtech capitals of the world.