Who Needs Silicon Valley? Beijing Ranked #1 in the World in Growth of Tech Deals

Beijing is ranked number one in the world in terms of the growth rate of new tech deals made during the last 12 months, according to a recent survey conducted by CB Insights, a venture capital database firm.

The survey compares year-on-year growth of deals made in cities November 2013 to October 2014. The result shows that Beijing saw an overall 165 percent growth in new deals made, good for ranking number one in the world by a significant margin over the number two ranked city, Stockholm.

In addition to Beijing, Shanghai was also in the top ten, coming in at Shanghai number five.

Those are the only two Chinese cities in the top 25, while India has four – Bangalore, New Delhi, Mumbai, and Gurgaon. This may indicate that India still has a better startup ecosystem than China on national level, corresponding to another study which suggests that India is now the world’s fastest booming startup country with more than 800 startups sprouting per year.

While Beijing topped the charts in funding growth, it was less impressive in total dollar deal growth, coming in at a mere 20th – though still at a robust 179 percent.

While five Asian cities are ranked in the top ten, the tech world still questions if Beijing or any other one of them will become the next Silicon Valley. Tech analysts still see that Silicon Valley possesses many special characteristics that are not found in Asia, such as more than abundant existing resources, a strong early adopter culture, and the willingness to share and grow together, not to mention fantastic weather for most of the year and solid intellectual property protection.

At least the number shows that Beijing has great prospects, with us being ranked the most vibrant startup city in the world.

Photo: Junglekey