This Indian city is declared world’s fastest-growing tech hub, overtakes London

According to the Dealroom.co data analyzed by London & Partners, International Trade and Investment Agency of the Mayor of London, research reveals that investment in Bengaluru registered a 5.4 times increase from 2016 to 2020 so as to secure total capital worth $7.2 billion. This places Bengaluru above London, Munich, Berlin, Paris, and Mumbai as the world’s fastest-growing technological hub.London, at the second place, witnessed a three-fold growth in investment, from $3.5 billion to $10.5 billion, during the same time period. Hemin Bharucha, Chief Representative of India at London & Partners, said, “It’s fantastic to see that Bengaluru and London ranked as the top two fastest-growing global tech hubs for VC investment.”

That said, in terms of the world’s technological Venture Capitalist (VC) investments, Bangalore was placed at the sixth position, one position lower than London followed by Shanghai, New York, San Francisco, and the leader, Beijing.

Know more: How is this Indian mobile brand beating Chinese competition?

Right from Tesla to Flipkart, the capital of Karnataka enjoys an ecosystem that makes it home to the greatest startups and companies across the globe. Almost every day, a new startup idea is born in the city filled with technopreneurs that serve as mentors, bounce boards, and guiding light for the passionate ones.

Over the years, the concentration of leading technological giants and startups in Bangalore has in turn attracted the sharpest Indian minds. Be it coders, leaders, or managers, bright individuals hustling at youth conclaves and tech conferences around the city is witness to some of the craziest funding stories in India. The growth of the EdTech industry since 2014 is a testament to Bangalore’s nickname – Silicon Valley of India.

While speaking about the survey, Bharucha emphasized the budding innovation and entrepreneurship in India along with investor confidence in London. With the divide between UK and EU, expansion of Indian businesses to the heart of England such as Skillmine, and vice-versa is expected to shape global techpreneurship over the next five years.

 

Srinivasan Vedam

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