There’s a change afoot in the US – it has begun to look beyond tech providers who are based in China. This is providing a great opportunity for tech companies based out of other countries to begin offering their services and keep the technological race alive. In fact, many tech centres have begun to materialize around the globe and these hotspots are set to become major centres for research and development.
Here’s a look at some of these tech hubs that have the potential to become the next ‘Silicon Valley’.
What we’re looking at today:
- Tech Hubs To Watch Out For in 2022
- Technological Hubs in 2022 – The Summary
Tech Hubs To Watch Out For in 2022
That we’ve made steady advancements in terms of technological innovation is now not news anymore – it’s almost a given. And many things have aligned for us to have made the tech advancements we have – like the availability of capital, the large inflow of technologically-skilled people, and the large scale research and development carried out by organizations – these have allowed certain locations to stand out when it comes to technological advancements and opportunities.
Few places like Silicon Valley, New York City, San Francisco, Beijing, Shanghai, and Boston have stood out as the best tech cities in the world for quite some time. However, many new cities around the world have begun to pop up of late and are giving the above-mentioned cities a tough run when it comes to technological growth. Some of these locations or “hubs” are listed here in no particular order.
- Toronto, Canada
Toronto has been quietly building a reputation as one of the top tech hubs of the world, second only to “Silicon Valley“. It is a haven for tech professionals due to a large number of opportunities, inclusive culture, quality of living, and lower living and operational costs when compared to its US counterparts. In 2018, Toronto managed to beat other well-known tech hotspots such as San Francisco and New York in terms of creating new jobs (fastest-growing tech market) as well as hosting high-quality talent. Attributes such as dynamic public policies, a large number of investors, and an ever-changing outlook in terms of technological advancements that only focuses on moving ahead have been actively contributing to Toronto’s status as the “next big thing” in tech. With more tech organizations (including the likes of Facebook, Airbnb, Samsung, Google, and Microsoft) migrating to Canada looking for greener pastures, Toronto has the capability to become the next “Silicon Valley “in no time.
World-renowned institutions such as the University of Toronto, York University, and George-Brown College among others, are located in Toronto. These institutions have improved academic excellence in technology and have been contributing heavily to help Toronto in cementing its position amongst the top tech hubs of the world. Some of the top Toronto-based companies that are changing the world for the better include Borrowell, BlueDot, Maple, StackAdapt, and Drop, amongst a host of others. Many companies have begun expanding their operations to Toronto owing to the tech hub’s talent pool and some of them include Cloudflare, Netflix, Doordash, Pinterest and NVIDIA among others.
- Bengaluru, India
From being an outsourcing capital of the world to dominating the technological sector, Bengaluru has been turning heads since the start of the millennia. A paradise for entrepreneurs and revolutionary business ventures, Bengaluru has been featured in the list of top thirty global startup hubs compiled by startup genome in 2021. Bengaluru has been referred to as the “Silicon Valley of India” and one cannot help but agree that the city has earned this honour rightfully so. According to several reports, Bengaluru has seen investments topping USD 7 billion in the year 2020 alone!
With world-class organizations such as Google, American Express, Intel, SAP Labs, Oracle, Accenture, Adobe, Amazon, Cisco and IBM among several others, establishing offices in Bengaluru, the city is a hotspot for technological innovations and research. Multinational companies have long been capitalizing on the low operational costs and high-quality talent that Bengaluru offers. The city has been largely pivotal in shaping technological growth across the globe and has successfully established itself as a technological behemoth owing to favourable attributes such as well-established international trade relations, high-quality investments, and an abundance of tech-savvy workers. Some of the top Bengaluru-based tech companies that have been highly successful include Infosys, Groww, Zoomcar, Zerodha, Byju’s, CRED, Dunzo, Vedantu, Purplerain, Flutura and Ather among others.
- Tel Aviv, Israel
Tel Aviv has been doubling up as Israel’s leading technology and startup hub. It has been referred to as “Silicon Wadi” due to the very high concentration of high-tech organizations and has often been compared to the U.S.A’s silicon valley due to the very large number of startups cropping up in the region.
Israel has been spearheading innovations for a very long time and has become synonymous with technological prowess in the world. Israel’s technological growth has largely been the result of its defense sector actively participating in the development of world-class technologies, in terms of communication networks, state-of-the-art machine intelligence, automated systems, and research among others. The global demand for Israel’s software, database security solutions, cyber-security, AI-based technologies, and electronics has propelled its technological and economic growth multifold, making it one of the fastest growing hubs in the world. Some of the top Israeli tech companies include Mobli, Zebra, Mobileye, Cortica, Waze, and Mindspace among others.
- London, United Kingdom
London has been steadily moving towards becoming Europe’s technological centre. East London Tech City or the “Silicon Roundabout” in East London has become popular among tech enthusiasts, owing to the presence of large clusters of high-tech organizations. East London is, in fact, considered to be among the top technological clusters of the world. Quality of life, access to academic and research-oriented activities, investments, and a very high concentration of tech organizations are some of the attributes that have greatly helped to cement London’s spot amongst the best tech hubs of the world.
London has access to the best of both academic as well as industrial institutions. With many technological behemoths such as Facebook, Intel, Deliveroo, Cisco, and Revolut operating out of London, it is easier for tech enthusiasts to find opportunities and learn all they need about technologies that are shaping our collective tomorrow. Add to that, prestigious institutions such as the University of London, Imperial College London, and London Metropolitan University among others, the city is home to a very potent mix of academic and industrial research that points towards technological advancements of the highest order.
- Nairobi, Kenya
Nairobi’s inclusion on this list doesn’t come as a surprise since its technological ecosystem has come to be known as the “Silicon Savannah” of late. In fact, the Kenyan government has been actively working towards making Nairobi a technological hub of sorts by planning a large technological hub known as the Konza Technopolis. With a large share of equity funding from technological venture capitalists supporting Kenya, it is well on its way to becoming a behemoth when it comes to tech startups and innovations. Africa’s major economic sector is agriculture, and it is research and advancement in this very field that is driving Kenya’s economic and technological growth.
With over 50 agrotechnology startups in Nairobi alone and the field receiving close to 80 per cent of equity funding, Kenya’s agrotech sector has been spearheading technological innovations on the continent while ensuring steady economic growth. From innovations that make use of AI-based technologies to improve “precision farming” methods to building sensors that enable remote monitoring of processes, Nairobi’s technological research has improved multifold in the past couple of decades. As many multinational organizations such as Intel, Microsoft, Cisco, Google, and IBM have already set up their offices in Nairobi, the country has been receiving steady global attention and support to thrive as a tech hub. Some of the indigenous companies to watch out for include M-KOPA, Twiga Foods, Tala, Grovo, CSquared, AZA Finance, Copia Global, and Sendy among others.
Technological Hubs in 2022 – The Summary
Other tech hubs of the world to watch out for include Paris, Munich, Berlin, Singapore, Yokohama, Tokyo, and Stockholm. One thing has become certain – the world does not have to depend on “Silicon Valley” alone for technological advancements. There is no dearth of talent around us and with the right guidance, more entrepreneurs will crop up who are capable of taking technological advancements to the next level.
Read more also about top technological trends in 2022.