Apac Business Headlines
Singapore emerged as the premier tech city amongst its Asia Pacific (APAC) contemporaries due to its tech environment, business environment, and talent pool, as per the Savills Tech Cities index.
The index that measured 30 cities all over the world on 100 standalone metrics, put the city-state in sixth place. New York emerged as the premier tech city in the 2019 Savills Tech Cities index thanks to its reputation as the international hub of commerce and wide talent pool.
San Francisco emerged as the second premiere city in the 2019 index obviously because of its numerous cutting-edge companies located in the Silicon Valley, deep talent pool, and venture capital investment.
London emerged as the third premiere city in the index after performing well on the index’s wellness and buzz as well as mobility submetrics apart from a robust capital market.
Venture capital volumes across the 30 tech cities were also observed to have increased from USD37 billion to USD207.8 billion in the last year. Chinese cities witnessed their share increase from 11 per cent to 36 per cent in the corresponding time period, the report stated.
Several Chinese cities such as Beijing, Hangzhou, Shanghai, and Shenzhen also emerged as premier cities in shared mobility services, with ranking among the top ten cities in this respect.
Also, the four Chinese cities along with Chengdu, Hong Kong, and Singapore, were also named as the leading ten cities with the best metro system.
The report indicated that how many dockless bikeshare schemes in the cities all around the globe began in China with Hangzhou has more shared bicycles compared to any other city in the world.
Venture capital and private equity investments in Singapore reportedly accounted for 56 per cent of the total private equity deals closed in Southeast Asia for the second quarter of 2018 that raised USD1.8 billion across 36 deals, as per Ernst & Young's (EY) private equity briefing report.
As per a separate report by Duff & Phelps, venture capital and private equity investments in Singaporean firms attained record deal volumes with 154 investments in the last year as against 125 investments recorded in the previous year.
Outstanding venture capital and private equity investments in the last year in Singapore included the USD2.5 billion in Grab Holdings by Toyota Motor Corp and other consortium investors.