The Z/Yen Smart Centres index – which ranks 79 global commercial centres on their ability to create, develop and deploy tech – showed London remained in first place, a title it has held in the biannual ranking since overtaking New York last May.
A closely-watched league table has once again named London the tech capital of the world, while Oxford and Cambridge are closing in on New York.
In the latest edition, Zurich rose from fourth to topple New York from second place, which now ranks third.
Meanwhile, Oxford and Cambridge rose one and four places to fourth and fifth place respectively. The historic university cities boast some of the world’s most in-demand tech firms and research facilities.
Its players include chipmaker Arm, which has seen its shares more than double in value since floating on the Nasdaq last September with a market capitalisation of $130bn (£102bn), as well as cybersecurity company Darktrace, which is expected to join the FTSE 100 next week.
Z/Yen’s rankings may help quell fears that the UK, and London in particular, is losing ground to EU locations as a global hub for start-ups – as higher interest rates and funding costs have stymied investment and hammered valuations.
Rishi Sunak outlined plans last March to make Britain a “science and technology superpower” by 2030. Last year saw a record-breaking 51,017 new tech companies incorporated in the UK, according to audit, tax and consulting firm RSM....
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