Bengaluru, India’s capital of about ten million people, has emerged as the world’s fastest-growing technical center since 2016, followed by many of the European cities of London, Munich, Berlin and Paris.
India’s financial institution Mumbai is ranked sixth, according to a new study released in London on January 14th.
Dealroom.co data analyzed by London & Partners – Mayor of the London International Trade and Investment Agency – shows that investment in the Karnataka capital of Bangalore has increased 5.4 times from $ 1.3 billion in 2016 to $ 7.2 billion by 2020, and The Maharashtra capital of Mumbai is growing 1.7 times from $ 0.7 billion to $ 1.2 billion over the same period, reports the news agency PTI.
Meanwhile, London has registered impressive threefold growth between 2016 and 2020, rising from $ 3.5 billion to $ 10.5 billion.
“It is gratifying to see that Bengaluru and London are ranked as the two fastest growing areas in the world of VC planting technology. Our major cities are actively involved in business and innovation – opening up more opportunities for technology investors and companies to do business in both regions, “said Hemin Bharucha, India’s High Commissioner for London & Partners.
“London has strong trade and investment ties with cities across India and today’s figures show the potential for future cooperation between the UK and India in technology. Despite the epidemic, technology companies in London and India continue to take the lead in developing game-changing technologies – especially in high-growth sectors such as EdTech and Fintech, “he said.
“The UK government’s recent agreement with Brexit and the European Union brings certainty to Indian companies and investors heading to London and looks forward to welcoming more Indian businesses to the UK capital in the coming years,” he added.
Bengaluru is also ranked sixth in the tech venture capitalist (VC) investment rankings, with Beijing and also San Francisco, New York, Shanghai and London making the top five. Mumbai enters No. 21 international level, with Boston and Singapore among other top cities.
Skillmine, a technology company in Bengaluru that offers new IT consulting and management services expanded to London last year, highlighted the reach of “like-minded tech entrepreneurs alongside a pool of deep talent” as a highlight of India’s Silicon Valley.
Bangaluru’s emergence as a world-class technology center is a big achievement. From here we expanded our business operations to London in May last year, as well as to markets in the Middle East and the United States. London is a global technology center with access to a pool of developing technological skills alongside growth costs and a broad customer base.
After Bengaluru and London, other fast-growing technology centers include the two German cities of Munich and Berlin and the French capital Paris, all three of which have doubled their investment in the 2016-2020 season. The UK capital, however, positioned itself as the leading technology hub in Europe – with London companies earning three times more investment than any other European technology city.
“London is the world capital of technology in Europe. Despite the challenges posed by Brexit and the coronavirus epidemic, London’s technology sector has continued to prosper by 2020 and has a key role to play in reviving the city’s economy. London as of now is already home to some of the world’s leading technology companies and will remain open to international investment and technology talent worldwide, “said London Mayor Sadiq Khan.
In addition to the Covid-19 epidemic and Britain’s exit from the EU, London-based technology firms amassed $ 10.5 billion by 2020 – far more than the total amount generated in 2017 ($ 7 billion) and 2018 ($ 5.9 billion) and close to the record for 2019 ($ 10.7 billion).
“It is brilliant to see how London’s technology sector has operated, despite all the challenges and problems of the year 2020. Many International investors have shown real confidence in London, with new investments invested in growing companies in sectors such as fintech, cybersecurity and health technology. This is because London continues to be a gateway. in European markets and has been a great place to establish and measure a technology company, ”said Laura Citron, chief executive of London & Partners.
A new study from Dealroom.co and L&P has also revealed that the financial circles of London-based technology companies have increased VC investment in UK technology by 2020, with British technology companies raising a record $ 15 billion by 2020.
Further results show that London now has 1,252 VC firms – more than any other European city.
Because of the global epidemic and the proliferation of remote operations by 2020, enterprise software technology has emerged as a top priority for VC investors.
London saw a 82% increase in business software investment over the past year, with UK capital firms raising $ 1.9 billion.
Meanwhile, another report on the level of traffic congestion worldwide, has three of India’s top 10 cities. Mumbai is ranked second in the world, sixth Bengaluru, Delhi eighth and Pune at number 16 out of 416 cities in 56 countries in traffic congestion parameters.