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Global innovation hubs: Hong Kong ranked ninth while Singapore remains No 1 amid coronavirus pandemic
- Singapore was the preferred tech hub outside Silicon Valley for over 800 tech leaders surveyed by auditing company KPMG
- Aside from the two rival former British colonies, the innovation hub list includes Beijing at fourth and Shanghai at sixth
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Hong Kong has become more competitive among global tech hubs outside Silicon Valley, but Singapore remains at the top, according to new research by global auditing company KPMG.
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Hong Kong moved up one spot from last year to come in ninth in a ranking of leading innovation hubs over the next four years, according to a survey of more than 800 technology industry leaders released on Monday.
Unlike many other industries, tech has thrived during the Covid-19 pandemic, increasing the perception that innovation can happen anywhere, according to Alex Holt, Global Head of Technology, Media and Telecommunications at KPMG.
“However … physical workplaces and innovation hubs remain a key component of technology companies’ strategies, although they may not be located around Silicon Valley,” he said in a statment.
The long-term rivals were not the only Asian cities chosen as leading global innovation hubs outside California‘s tech Mecca.
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Beijing, the capital of rising tech powerhouse China, placed fourth after New York and Tel Aviv while Shanghai landed sixth following London. Tokyo and Bangalore, the capital of southern Indian state Karnataka, came in seventh and eighth respectively. US cities Seattle and Austin share the 10th spot on the list in KPMG’s 2021 Technology Innovation Hubs report.
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