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Bengaluru and Gurugram are among the top five preferred destinations for technology companies in the Asia-Pacific region because of better business conditions as well as the availability of engineers and real estate for growth, according to a report.
According to the CBRE real estate expert's report, technology companies continue to satisfy the demand for offices in the APAC region, despite the absence of any major city or cluster of the same status as Silicon Valley. The technology sector accounted for 23% of total leasing activity in 2018.
The study ranked 15 cities in the Asia-Pacific region in three categories, according to their performance with respect to business conditions, the environment of innovation, costs and availability.
The economic and environmental conditions of innovation each received a weight of 40%, while the cost, a relatively less important consideration for technology firms, was weighted at 20%.
"The main cities are Beijing, Bengaluru, Shanghai, Singapore and Gurugram, and the report indicates that these cities are performing well in terms of business conditions and innovation environment, as well as the costs and availability that favor business growth, "says the report.
These cities are prime destinations for a wide range of traditional and new technology companies. seeks to establish a base of operations in the Asia-Pacific region.
Hyderabad is in the list of five cities along with Hangzhou, Shenzh fr, Tokyo and Seoul. These cities are already home to sub-sectors of the technology industry and are performing well in most categories.
Five substitute cities are Hong Kong, Hsinchu, Sydney, Taipei and Auckland. These cities have favorable views on some important aspects, but their most appropriate role is to host specific functions to complement larger clusters elsewhere in the region.
"India is home to a growing number of technology unicorns and the Asia-Pacific region is increasingly defined as the region leading the rapid adoption of disruptive technologies.
" However, there is still much to to identify places where economic conditions, innovation and talent come together to form a globally competitive digital hub, "Anshuman Magazine, President and CEO of CBRE India
The magazine, who also directs activities in Southeast Asia, the Middle East and Africa, said that better access to programs of nurseries and accelerators and a broad pool of skilled IT talent based in Delhi-NCR and Bengaluru supported the cultivation of new ideas.
The observations were formulated in the latest report of CBRE titled "Programming Technology Cities of Asia Pacifiqu e as a global technology center ". s,
"The Asia-Pacific has 8.4 million graduates in Science, Technology, Engineering and Mathematics (STEM), including 30% in India, which is huge," she said. he added.
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