The Global Start-up Ecosystem Report 2017 ranked the Toronto-Waterloo corridor as the 16th best start-up ecosystem in the world. The study was based on 58 start-up ecosystems across 28 countries. The categories assessed include Performance, Funding, Market Research, Talent, and Start-up Experience. Toronto-Waterloo ranked 5th in Market Research, which studied how well start-ups go global. Moreover, the report indicates that the Toronto-Waterloo Corridor has the second highest density of start-ups in the world. It has been estimated that 2,100-2,700 start-ups flourish due to the engineering talent, the entrepreneurial culture, affordable rental market and global customer base.