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Toronto Named Among 10 Most Innovative Cities In The World

October 26, 2011
Toronto Named Among 10 Most Innovative Cities In The World

October 25, 2011 - The Huffington Post Canada reports that on a list of the world's most innovative cities compiled by 2thinknow, a Melbourne, Australia-based consultancy.

Toronto places in the top 10, a sign the city continues to be a vibrant economic centre despite the financial problems of recent years.

Toronto placed tenth in a ranking of 331 benchmark cities from 2thinknow, a Melbourne, Australia-based consultancy.

Boston placed first on the list, while two other U.S. cities -- San Francisco (second) and New York (fourth) -- also placed in the top 10.

The remaining top 10 cities were all in Europe -- Paris (third), Vienna (fifth), Amsterdam (sixth), Munich (seventh), Lyon (eighth) and Copenhagen (ninth).

2thinknow's index is based on 162 indicators that the consultancy groups into three general categories: cultural assets (arts, sports franchises); human infrastructure (startup companies, health, education); and networked markets -- the city's access to and role within the global economy.

Four Canadian cities made the top 100, but only Montreal, at 31st place, was listed along with Toronto as a "nexus" city -- one of 33 urban areas that are at the heart of the global economy.

The other Canadian cities were listed as "hubs," cities that are still vibrant centres of innovation but that play a relatively smaller global role. Those cities were Vancouver at 49th, Quebec City at 79th and Calgary at 81st.

2thinknow reports the Index is the most comprehensive city ranking and scoring. Each city was selected from 1,540 cities based on basic factors of health, wealth, population, geography.

The selected 331 cities had data extracted the city benchmarking data program on 162 indicators. Each of the benchmarking data were scored by analysts using best available qualitative analysis and quantitative statistics.

All cities are graded into award categories based on their index score. In descending order of importance to the innovation economy:

NEXUS: Critical nexus for multiple economic and social innovation segments

HUB: Dominance or influence on key economic and social innovation segments , based on global trends

NODE: Broad performance across many innovation segments, with key imbalances

INFLUENCER: Competitive in some segments, potential or imbalanced

UPSTART: Potential steps towards relative future performance in a few innovation segments

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Globe _2012_180x 150_01Conference sessions at GLOBE 2012, taking place March 14-16 , 2012 in Vancouver, Canada, will explore the development of smarter cities, energy management, water supply and access, innovative green building and retrofitting, and clean transportation options.

One session in particular on green infrastructure will explore how an integrated approach that involves sustainability and land-use planning, greater use of green technologies, and public policy and coordination across departments and jurisdictions increases the efficiency and cost-effectiveness of infrastructure development.

Get More information on GLOBE 2012 here

Source: www.huffingtonpost.ca
 
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