India’s Silicon Valley Bengaluru has claimed the second spot in a ranking of best locations for launching tech startups. The list of ‘World’s Rising Tech Hubs’ is led by Boulder, US.
With over 7,500 startups and the largest amount of investors (6,236), Bengaluru performed exceptionally well in the business category. The others in the top five are Johannesburg in South Africa, Santiago in Chile and Stockholm in Sweden.
The list of top global startup ecosystems has been compiled by the research platform smallbusinessprices.co.uk. The research platform has listed some of the best cities to live and work in for young people who want to launch their own business. The parameters for the research are the average internet speed, the average business valuation, and cost of living, among other metrics.
“We’ve looked at the best cities to work and live in for young innovators and ranked them according to different metrics,” said the firm.
Though Silicon Valley is still the most preferred destination for startups and venture capitalists, new age global tech hubs are rapidly emerging to meet the demand of entrepreneurs.
This isn’t the first time Bengaluru is in the spotlight. In a report published in September last year, Global research firm 2thinknow had placed Bengaluru at the 19th spot amidst 25 most hi-tech cities in the world.
The city leads occupies country’s 22% of the job market share in the tech domain.