London has been named the world’s most high-tech city, according to Z/Yen Group’s seventh edition of the Smart Centres Index, published today.
The British capital secured the top spot for its world-leading financial services, deep talent pool, quality of its business environment, and international reputation.
Climbing from second place, London was joined in the top five by New York, San Francisco, Zurich, and Lugano. Oxford came in seventh place, putting four European cities in the top 10.
The news that London has taken the top tech title from New York will undoubtedly be welcomed by British PM Rishi Sunak, who has on multiple occasions expressed his desire to make the UK as a whole a tech and innovation superpower.
In a rather humourous speech recently Sunak even labelled the country “Unicorn Kingdom,” in a not-so-subtle nod to the fact that the UK has so far birthed 162 startups valued at $1 billion or more.
While the PM definitely shouldn’t forge a career in comedy, he does have a point. During 2022, UK tech firms raised £24bn in funding, more than France (£11.8bn) and Germany (£9.1 bn) combined, making it the world’s third-largest tech sector.
Leading this investment is London, which is currently home to a number of up-and-coming tech firms including Deliveroo, Revolut, and Wise, as well as emerging startups like AI research lab DeepMind and metaverse developer Improbable.