Bengaluru is the world’s fastest growing tech hub followed by London; Mumbai sixth

News Network
January 14, 2021

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Bengaluru, Jan 14: Bengaluru has emerged as the world’s fastest growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris, with India’s financial centre of Mumbai in sixth place, according to new research released in London on Thursday.

Dealroom.co data analysed by London & Partners – the Mayor of London’s international trade and investment agency – reveals that investment in the Karnataka capital of Bengaluru grew 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020, with the Maharashtra capital of Mumbai growing 1.7 times from $0.7 billion to $1.2 billion in the same period.

The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from $3.5 billion to $10.5 billion.

“It’s fantastic to see that Bengaluru and London ranked as the top two fastest growing global tech hubs for VC investment. Our two great cities share mutual strengths in entrepreneurship and innovation – creating lots of opportunities for tech investors and companies to do business across both regions,” said Hemin Bharucha, Chief Representative of India at London & Partners.

“London has a strong trade and investment relationship with cities across India and today’s figures show the opportunities for future partnerships between UK and India on technology. Despite the pandemic, tech companies in London and India are continuing to lead the way in creating game changing technologies – especially in high growth sectors such as EdTech and Fintech,” he said.

“The UK government's recent Brexit deal with the European Union brings certainty for Indian companies and investors looking to London and we look forward to welcoming more Indian businesses to the UK capital in the years ahead,” he added.

Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five. Mumbai comes in at No. 21 in the worldwide ranking, with Boston and Singapore among the other high-ranking cities.

Skillmine, a Bengaluru-headquartered tech company offering new generation IT consulting and managed services which expanded to London last year, highlighted access to “like-minded tech entrepreneurs alongside a deep tech talent pool” as the highlight of what has been referred to as India’s Silicon Valley in the past.

“It has been exciting to be part of Bengaluru’s emergence as a world-class tech hub. From here we expanded our business operations into London in May last year, as well as into the Middle East and America markets. London is a global tech hub with access to a thriving tech talent pool alongside growth capital and a wide customer base. We are excited to grow our business in the city,” said Anant Agarwal, Managing Director, Skillmine.

Behind Bengaluru and London, the other fast growing tech hubs include the two German cities of Munich and Berlin and the French capital of Paris, all three more than doubling their investments in the 2016-2020 period. The UK capital, however, cemented its status as Europe’s leading tech hub – with London companies receiving over three times the amount of investment than any other European tech city.

“London is the global tech capital of Europe. Despite the challenges brought about by Brexit and the coronavirus pandemic, London’s tech sector continued to thrive in 2020 and has an important role to play in the city’s economic recovery. London is already home to some of the world’s best technology companies and will remain open to international investment and tech talent from all over the world,” said London Mayor Sadiq Khan.

Despite the global pandemic and the UK’s exit from the EU, London tech firms raised $10.5 billion in 2020 – significantly more than the total amount raised in 2017 ($7 billion) and 2018 ($5.9 billion) and close to the record in 2019 ($10.7 billion).

“It's brilliant to see how resilient London's tech sector has been, despite all the challenges of 2020. International investors have shown real confidence in London, with new venture capital funds setting up here to invest in high-growth companies in sectors like fintech, cybersecurity and health tech. This is because London continues to be the gateway to the European market and a fantastic place to set up and scale a tech company," said Laura Citron, CEO of London & Partners.

The new research from Dealroom.co and L&P also reveals that mega funding rounds for London-based tech companies increased VC investment levels for UK tech in 2020, with British tech firms raising a record USD 15 billion in 2020. Additional findings show that London is now home to 1,252 VC firms – more than any other European city.

Following the outbreak of the global pandemic and an increase in remote working in 2020, enterprise software technologies emerged as a top sector for VC investors.

London saw an 82 per cent increase in enterprise software investments last year, with the UK capital’s firms raising a total of $1.9 billion.

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Agencies
February 15,2021

Bengaluru, Feb 15: India plans to have a sustained human presence in space and is coming out with a policy framework and a long-term roadmap. The Department of Space (DoS) has envisaged a national effort to meet the goal of successful demonstration of human spaceflight capability and to achieve the vision of sustained human presence in space.

India's maiden human spaceflight module 'Gaganyaan' will be launched after the second unmanned mission planned in 2022-23, Union Minister Jitendra Singh said last week. In her Budget speech, Finance Minister Nirmala Sitharaman has said the first unmanned launch is slated for December this year. The DoS has now put up for public consultation on the website of the Indian Space Research Organisation (ISRO), which comes under the former, the draft "Humans in Space Policy for India -- 2021" and guidelines and procedures for its implementation.

DoS believes that given the collaborative nature of human spaceflight due to its multi-disciplinary nature, it is essential to have a policy-framework, which not only fosters partnerships but also addresses proliferation concerns and compliance to existing policies, laws and treaties. "Human-spaceflight programme needs to be sustained over longer periods to deliver tangible benefits," according to the draft.

Hence, it is essential that the policy enables sustained presence in low earth orbit and beyond through reliable, robust, safe and affordable means by undertaking appropriate capacity building measures like collaborations, infrastructure development, facilities modernisation, technology development and human resource development.

This would also encourage new industries, create high technology jobs, enable socio-economic growth and further enhance India's stature and role in space, it was noted. "The Humans in Space Policy aims for sustained human presence in space as an instrument for development, innovation and foster collaborations in alignment with national interests", the draft said.

Technological elements such as development of human rated launch vehicle, environmental control and life support system, crew escape system, deceleration system, crew selection and training and development of human centric products shall be undertaken by the DoS, utilising expertise of ISRO, national research institutions, academia, industry and others.

A long-term road map for sustained human presence in low earth orbit (LEO) and undertaking exploration missions beyond it would be defined. "DoS/ISRO shall encourage start-ups and industries through suitable mechanism. Mechanism shall be established to explore spinoff opportunities and their development for societal benefits", according to the draft. DoS/ISRO shall establish a comprehensive criterion for screening and selection of crew members.

For initial missions, pilots from Indian Armed forces will be inducted as crew members, it was stated.

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News Network
February 14,2021

Bengaluru, Feb 14: Deputy chief minister C N Ashwath Narayna on Sunday said that after the covid-19 there was revolutionary change in the heath sector with amply opportunities for the smart clinic and digital consultations across the country.

Inaugurating a private hospital in the city he said that most of the doctors wanted to remain in the urban areas only, hence, there was scare of deceases in rural areas, however, after covid -19 the small clinics and digital consultations have handy and become popular for the people, he said.

Stating that the governments have been always looking towards road, water and energy sectors, however, now the situation change towards the health sector which is most important which needs more priority he said
He also said that when the covid-19 virus noticed in the country then only every one knows how much important of health sector and there was scarcity of beds , ICU and oxygen during the period of the covid-19 was high level .

He claimed that now the state government has made all necessary demands in the health sectors was looked after , hence, the covid-19 rates have been dropping slowly now in the state ,but , one should not forget it may be second wave , hence, people should be care full and follow the all covid-19 guidelines.

He said first ever modules ICU unit which was opened in K C General hospital is an example and the karnataka has no open gates for the investors in the field of health sectors for which the government will provide all basic facilities , besides he said rajiv Gandhi health university campus will be coming up shortly in ramanagara, he added.

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News Network
February 26,2021

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Bengaluru, Feb 26: The number of persons arrested in connection with the blast at a crusher at Hirenagaveli, Chikkaballapur district, is now eight after the police nabbed G S Nagaraj, one of the four partners of the quarry and a local BJP leader.

Known as Gudibande Nagaraj, he was one of the main accused in the quarry explosion case. He was on the run since the explosion claimed the lives of six labourers of the crusher during the late hours of February 22. The tragedy occurred when they were attempting to hide the cache of explosives in the forest land behind the crusher, after raids by authorities earlier in the day.

Another person identified as Ganesh, hailing from Tamil Nadu, was also arrested by the police for questioning, as he is learnt to have to conducted blasting at the crusher a few months ago.

Nagaraj was among the four partners running the quarry. Three others, Venkatashiva Reddy, Raghavendra Reddy and Madhusudan Reddy were arrested on Thursday.

According to Chikkaballapur police, eight accused in the blast case are now arrested. A total of 15 people were named in the FIR, which was initially filed against the crusher on February 7 and updated post the explosion. 

Apart from the six people who perished in the incident, one more dead person - Imthiyaz, one of the partners of the quarry, who passed away two months ago - was also named in the FIR filed by the police.

CID officials, who took over the case, launched their investigation into the incident.

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