Hickey Releases Rankings of World’s Most Innovative Cities
New report ranks the world’s markets leading innovation and business transformation
December 4, 2020, New York City: Hickey & Associates (Hickey), a global location strategy and site selection firm, released their highly anticipated rankings of the world’s most innovative cities. Their latest release, the Hickey 2020 Global Innovation Hubs Report, reviews and benchmarks nearly 400 global cities across a set of key factors driving innovation and business transformation.
The report, which is now available online, ranks global markets based on an empirical methodology looking at core business, demographic, and operational elements corporate leaders evaluate when making strategic location decisions. On a normalized and standardized basis, Hickey’s Global Location & Incentives Experts assessed thousands of data points, including education, talent pipeline, patents, population demographics, R&D and venture capital investments, business climate, and political stability, among many others.
After an exhaustive review, the leading 2020 Global Innovation Hubs are Boston, London, San Francisco, Los Angeles, and San Jose. Dominated at the top by American markets, this year’s rankings do feature markets from Europe and Asia-Pacific, as well. The report also ranked cities on a regional basis and by industry, highlighting those markets which are driving critical sectors such as automotive, medical science, and fintech, along with several more.
“Overall, 2020 has been a challenging and trying year for the global economy. As corporate leaders look towards the future, identifying those markets which are driving innovation is more important than ever,” remarked Jason Hickey, President & CEO of Hickey. “Our latest report highlights the leaders on the global stage, while also showcasing the markets emerging as future hubs for innovation. By leveraging the power of data and strategic insights, corporate leaders can better navigate the dynamic global environment.”
In developing the global benchmarking model, the report focused on four vital major categories:
- Talent Magnets: Cities and markets that have a young and growing Millennial and Gen Z population with a multi-national profile and which have a workplace culture that is vibrant and provides a good live/work/play culture.
- Innovative & Transformative: Locations with a high concentration, frequency and number of startups and patents.
- Learning & Collaborative Ecosystems: Towns, cities and metropolitan clusters that lead in research and development, often linked with universities and associated with business and academic networks that encourage and celebrate innovation and knowledge sharing.
- Venture Capital Hotbeds: Locations and markets that attract high levels of investment into businesses, start-ups and R&D.
The full report, along with an interactive tool that allows users to sort through and interact with the data and rankings, is available for download now: 2020 Global Innovation Hubs Report & Rankings
HICKEY is a location strategy, credits & incentives advisory, and labor analytics company with active projects in the Americas, Europe, Middle East, Africa, Asia, and Australia. Utilizing state-of-the-art-tools and techniques, HICKEY assists businesses in determining the best location to expand, relocate, or consolidate anywhere in the world. Hickey is one of the world’s leading location consulting firms, and among the fastest-growing businesses in the United States as a member of the coveted 2020 Inc. 5000 list.
Managing Director, Global