Danny McCance 13 Mar 2019 12:07pm

London third most promising global tech hub

London rose one place since last year to be ranked joint third with Tokyo as an emerging technology hub, with New York in top spot and Beijing in second

The list, part of KPMG’s 2019 Innovation Technology Hubs report, ranked the most promising cities in the world for innovative technology, based on the views of 740 global technology industry leaders.

Separate research from the firm found that $7.7bn (£ was invested in UK start-ups throughout 2018.

For the first time, the report found that many respondents thought Silicon Valley will lose its position as the premier technology centre in the future.

More than half (58%) of respondents thought it was likely or very likely that the technology innovation centre will move from Silicon Valley in the next four years, compared to 27% saying this was not likely or not at all likely.

Beijing moved ahead of Shanghai, which took joint fifth place with Taipei.

Asia dominated the top 10, with Singapore being ranked in seventh place and Seoul eighth.

The US rounded out the top 10 with Boston and Austin ranked in joint ninth place.

Most respondents expect the US to produce the most disruptive technology in 2019 (23%), followed by China (17%) and the UK (9%).

In October, separate research recognised London alongside Singapore as “excellent hubs” for global fintech activity.