Ann Arbor is one of the most innovative cities in the US, according to report
Tree Town ranks sixth on 24/7 Wall St.'s list
ANN ARBOR – Financial news site 24/7 Wall St. has ranked Ann Arbor as one of the most innovative cities in the country.
Ann Arbor snagged sixth place on the list of 25 American cities that share an affinity for technology based on factors like the presence of research institutions and venture capital firms, and efforts by chambers of commerce and local government.
The list was compiled based on 2015 data from the U.S. Patent and Trademark Office. 2015 was the most recent year data was collected.
The cities on the list had the largest number of patents issued per 100,000 city residents.
Here's what 24/7 Wall St. and USA Today said about Ann Arbor:
"A consortium of banks, universities, tech companies and health care providers has invested in Ann Arbor SPARK, an initiative intended to bring together a network of business and manufacturing companies and build awareness of the region and promote growth.
"The University of Michigan has developed a destination for entrepreneurship and innovation called, Innovate Blue that supports and helps connect the university's entrepreneurs. Innovate Blue claims to have more than 15 programs and centers in entrepreneurship. The university hopes to capitalize on the state's legacy of innovation. It was over 100 years ago in Michigan that Henry Ford revolutionized the manufacturing business model by developing the assembly line that produced millions of Model T cars."
Ann Arbor has developed into a vibrant hub for tech over the last several years. Startup incubators at the University of Michigan, success stories of companies like Duo Security (Ann Arbor's first startup to receive a valuation of more than $1 billion) and the emerging presence of global companies also contribute to the city's booming tech scene and reputation.
The top five cities on the list are:
5. Santa Cruz-Watsonville, California
4. Boulder, Colorado
3. Rochester, Minnesota
2. Bremerton-Silverdale, Washington
1. San Jose-Sunnyvale-Santa Clara, California
Note: The list stated that Ann Arbor had a population of 358,880 in 2015, an overestimate of a city that currently has a population of 119,000. It appears as though the report may have interpreted the population of Washtenaw County (approximately 350,000 people) as the population of the city of Ann Arbor.
Like what you're reading? Sign up for our email newsletter here!
All About Ann Arbor is powered by ClickOnDetroit/WDIV.
Copyright 2018 by WDIV ClickOnDetroit - All rights reserved.