UK takes innovation hit dropping to fourth in KPMG ranking

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The UK has dropped one place, to fourth, in KPMG’s annual ranking of most promising countries in the world for disruptive technology breakthroughs that have a global impact.

The 810 technology executives surveyed from companies, venture capital firms and angel investors across 12 countries, ranked the UK in fourth place with Japan in KPMG’s 2020 Technology Innovation Hubs report.

It places the UK behind the U.S., and both China and India, which tied for second place.

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Although the U.S., China and Japan have held steady in their ranking since last year, this is a significant improvement for India which ranked sixth in 2019.

Ian West, head of technology, media and telecoms at KPMG UK, commented: “The UK has always been a destination for technology, ranging from names synonymous with research such as the Alan Turing Institute or, in today’s competitive and digital-first landscape, initiatives such as the government’s recent investment into a cutting-edge NHS AI lab.

“Additionally, business collaborations like KPMG’s partnership with the University of Leeds in a £40m innovation hub, will be key in propelling the UK’s position as a global stalwart of innovation.”

He added: “With greater political and economic certainty comes a very real opportunity to attract investment, infrastructure and talent of the highest standard to all regions of the country.”

KPMG’s study revealed which cities, in addition to presumed global leader Silicon Valley/San Francisco, will be leading technology innovation hubs over the next four years.

This year 37% of respondents, compared to 58% last year, said it was likely the innovation centre of the world would move from Silicon Valley in the next four years.

London moved up one notch to second place behind Singapore, which leaped from seventh last year, to top this year’s global rankings.

Tags : businessinnovationKPMG
Alex Douglas

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