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Technology Innovation Hubs

Technology Innovation Hubs

Selecting and investing in emerging global technology incubators

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Anuj Madan

Partner, Audit & National Industry Leader, Technology, Media & Telecommunications

KPMG in Canada

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New York horizon

For the first time in the history of KPMG's global Technology Industry Innovation Survey, more than 50% of the respondents believe Silicon Valley will no longer be the technology innovation center of the world in 4 years. Despite all the positive business factors present in Silicon Valley, an escalating cost of living, questions about diversity and corporate cultures, high business taxes, an overmatched infrastructure, and even increasing scrutiny into data privacy, as well as other business practices, are contributing to the perception that Silicon Valley may not continue to dominate tech innovation in the coming years.  

Locations outside the Bay Area are now common choices for new offices and innovation centers. Headline-grabbing announcements by several of the tech giants helped push U.S. cities, New York, Boston, Austin, and Washington, D.C., up in the rankings in this year's survey. New York was voted as the global city most seen as becoming the leading technology innovation hub outside of Silicon Valley over the next four years. Other notable risers included :

  • Beijing, China
  • Tokyo, Japan
  • London, UK
  • Paris, France
  • Shanghai, China
  • Taipei, Taiwan
  • Seoul, South Koreo

Download the full report for an analysis of the data-driven rankings and a glimpse at the bigger picture. 

© 2020 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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