Bengaluru Is the Fastest-Growing Technology Hub in the World: Report
Jan. 17, 2021The report comes fromDealroom.co, an Amsterdam-based data firm, and was recently published on their official website. The company collaborated with London & Partners. which is the Mayor of London’s international trade and investment agency, to prepare the report.
However, it is not surprising to see Bengaluru’s name at the top of this list. The city has been developing at a rapid pace and major companies (including Tesla) prefer the city for various advantages. First of all,the infrastructure of the cityis top-notch. Secondly, companies get attracted to Bengaluru mainly because of the quality of the workforce that is available and the cheap labor cost.
As a result, we have seen several major companies likeNokia,Zoom, and others set up headquarters and R&D centers in the city. Recently, the American EV giant,Tesla also registered its Indian entity in Bengaluru, with plans to set up an R&D center in the city soon. So, these kinds of major investments have pushed the boundaries of the city to reach this height.
“It’s fantastic to see that Bengaluru and London ranked as the top two fastest-growing global tech hubs for VC investment. Our two great cities share mutual strengths in entrepreneurship and innovation – creating lots of opportunities for tech investors and companies to do business across both regions,”Hermin Bharucha, the Chief Representative of India at London & Partners said in a statement.
Moreover, the report from Dealroom.co also states that the financial capital of India, Mumbai has made it to the 6th position. The investments in Mumbai grew 1.7 times from $0.7 billion to $1.2 billion in the same time period.
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