Communications of the ACM
Report Names Bengaluru World's Fastest-Growing Tech Hub
Bengaluru is also ranked sixth for the world's tech venture capitalist investments.
Credit: Reuters
Dealroom.com data analyzed by London & Partners, the Mayor of London's international trade and investment agency, found that Bengaluru (Bangalore), India's IT capital, is the world's fastest-growing mature tech ecosystem, followed by London, Munich, Berlin, and Paris.
Investment in Bengaluru increased 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020, according to the report; investment in London tripled over the same period, from $3.5 billion to $10.5 billion.
Said London & Partners' Hemin Bharucha, "London has a strong trade and investment relationship with cities across India and today's figures show the opportunities for future partnerships between the U.K. and India on technology. Despite the pandemic, tech companies in London and India are continuing to lead the way in creating game-changing technologies, especially in high growth sectors such as EdTech and Fintech."
From Mint
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