Other cities like Hyderabad, Pune, and Jaipur also emerged as attractive investment destinations as each city welcomed two new centres between March and October. The report notes that in May, Cisco, along with Qualcomm Technologies, GE and 3M India, launched an IoT innovation centre in Jaipur. Hypercat, a London-based consortium of IoT companies, launched an accelerator in Hyderabad recently .
The report says India's rise has also been spurred by the government initiatives related to digital and startups.
The report also notes Asia rise in comparison to both Silicon Valley and Europe. Capgemini has now done thrice, the first in July 2015, the next in February this year and the latest in October. "In each report, we witness the inevitable erosion of its (Silicon Valley's) dominance. Between July 2015 and October 2016, its share in the world's total innovation centres has fallen from 18% to 14%. This is a result of increasing competition from a diverse set of hubs across the world. In particular, the top three cities in Asia - Singapore, Bangalore and Tokyo - together added more innovation centres (9) between March and October 2016 than the Silicon Valley (7)," the report said.
It goes on to say that in its latest analysis, Asia (34) added more innovation centres than any other region. "In fact, the number of innovation centres in Asia has taken a big stride forward between March and October 2016, making Asia host to 29% of all innovation centres - overtaking Europe in terms of its share of total innovation centres for the first time," it said.
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