San Francisco as the heartland of technology innovation, and Boston, as a biomedical innovation centre, have seen their rankings improve as a result of this score being introduced. In short, the Innovation measurement, which previously assessed the strength of universities in a city, now also monitors the amount of venture funding directed to businesses in a specific location. The elevation of San Francisco follows the introduction of a specific venture capital score to the Index. The Golden Gate City’s east coast counterpart, Boston, took second spot with London ranked third.
San Francisco has this year secured the top spot in Schroders Global Cities Index, boosted by its world-leading venture capital industry.
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