Canada ranks in Top 10 for creating Cleantech Companies

Canada ranks among the top 10 countries worldwide when it comes to spawning clean technology companies.

A new report by the World Wildlife Fund and research firm Cleantech Group LLC rates 38 countries by their abilities to commercialize startup green-tech firms.

Denmark and Israel lead the rankings, the United States lands in fifth place, and Canada comes in seventh.

According to the Globe and Mail, Canada ranks high because of an entrepreneurial culture, relatively high patent activity and existing corporate activity in the green-tech sector.

The report is critical of the federal government’s reluctance to support the industry seems to be surprised by the top 10 rank because the country has “a poor reputation at a federal level for political leadership on climate change.”