UK more likely to produce disruptive tech

The UK has improved its ability to produce the most disruptive technology, according to research by KPMG.

Its annual Technology Innovation Hubs report shows that the UK has risen one spot from last year and now ranking behind only the US and China, with Japan and Singapore rounding out the top five.

KPMG UK head of technology, media and telecoms Ian West said that technology underpins the competitiveness and development of every sector.

“It is a key battleground for most economies and the UK must ensure it is a leader in this field. The UK’s investment in autonomous vehicle technology, artificial intelligence and robotics is therefore hugely encouraging and will make a real difference to the UK being seen as a tech destination of choice for scientists, entrepreneurs, investors and tech companies.”

KPMG surveyed 740 business tech executives from companies, venture capital firms and angel investors across the globe, of which 60 percent believe that Silicon Valley will lose its crown as the technology innovation centre of the world by 2023.

New York is touted by respondents as the global city most likely to become a leading technology innovation hub outside Silicon Valley in the next four years.

Beijing polled just behind it, with London and Tokyo in joint third place.

KPMG also found that over $7.7 billion was invested in UK tech start-ups in 2018, more than one and a half times that invested in start-ups in Germany, and over two and a half times the investment seen in French tech start-ups.

“It is great that the UK’s technology sector is appreciated as the most promising market for technology breakthroughs in Europe, and that London is seen as a major hub for big data, fintech and a variety of digital technologies”, West said.

“Despite the uncertainties presented by political hesitations and other economic factors, the UK and London have not lost their shine when it comes to technology pedigree.” Pedigree? Crufts has heard of it.