Bengaluru Emerges As World’s Fastest Growing Tech Hub: Report
Karnataka: Bengaluru has emerged as the world’s fastest-growing mature tech ecosystem in the world since 2016, according to new research released in London on Thursday.
As per the new research, Bengaluru is followed by the European cities of London, Munich, Berlin and Paris, with India’s financial centre of Mumbai in sixth place.
Dealroom.co data analysed by London & Partners the Mayor of London’s international trade and investment agency revealed that investment in the Karnataka capital of Bengaluru grew 5.4 times from USD 1.3 billion in 2016 to USD 7.2 billion in 2020, with the Maharashtra capital of Mumbai growing 1.7 times from USD 0.7 billion to USD 1.2 billion in the same period.
The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from USD 3.5 billion to USD 10.5 billion.
Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five. Mumbai comes in at No. 21 in the worldwide ranking, with Boston and Singapore among the other high-ranking cities.
Behind Bengaluru and London, the other fast growing tech hubs include the two German cities of Munich and Berlin and the French capital of Paris, all three more than doubling their investments in the 2016-2020 period.