MEMBER NEWS: KPMG Global Technology Innovation Hubs
KPMG’s publication series, The Changing Landscape of Disruptive Technologies, now in its fifth year, provides perspectives about innovation trends, barriers to commercialization, and leading management practices. We include insights from our annual survey of over 800 global technology industry leaders including start-up entrepreneurs and FORTUNE 500 executives.
The success of Silicon Valley’s entrepreneurial culture continues to inspire other countries to become technology innovation hubs. Part 1 of the 2017 series, Global Technology Innovation Hubs, unfolds the cities and countries making significant strides in innovation development and provides 15 unique country perspectives. The report showcases the rise of a new ecosystem of incubators, accelerators, and venture capital alongside government incentives. Key findings include:
- The U.S. and China are named the leading countries, which is consistent with earlier KPMG surveys. India placed third for the second year in a row. The U.K. jumped into the fourth spot. Korea also climbed, placing 5th and moving ahead of Japan.
- The Top 10 hubs, in addition to Silicon Valley/San Francisco, that are seen as leading technology innovation hubs over the next four years are: 1. Shanghai; 2. New York; 3. Tokyo and Beijing; 5. London; 6. Washington, D.C., Berlin and Chicago; 9. Tel Aviv and Boston.
- Fifteen KPMG tech industry leaders provide their country insights.
- Top global technology innovation visionaries are named.
- Respondents said strategic planning, business units, think tank/incubator, IT and the innovation committee are all ahead of R&D as places where innovation is spotted and nurtured in companies.
- Financial incentives were selected as the top motivator to build and sustain an innovative corporate culture, bypassing career progression and promotion.
- The availability of talent and technology infrastructure were both rated especially high contributors to pushing innovation forward. These were followed by the ability to drive customer adoption and access to alliances and partnerships.