Feeds

Move over Silicon Valley, the Chinese are coming

KPMG report says PRC will be innovation leader by 2016

Beginner's guide to SSL certificates

Over 40 per cent of technology leaders think that Silicon Valley will be supplanted by China as the world’s leading tech innovation hub, according to a new report from KPMG.

The consultancy interviewed hundreds of tech execs from start-ups to multi-nationals across the globe and found that 44 per cent believe China will replace Silicon Valley, with the tipping point coming as early as 2016.

India got 22 per cent of the vote as “most likely new Silicon Valley” followed by Japan and South Korea.

“The key takeaway from this survey isn’t that Silicon Valley is becoming less of a force, but that other areas of the world are becoming important technology innovation hubs,” said KPMG partner Gary Matuszak.

The report will be music to the Communist Party’s ears as it tries to achieve a recent goal to transform the People’s Republic an “innovation-oriented country” by 2020 and a “world technological power” by 2049.

Yet despite boasting some big name global tech firms such as Lenovo and Huawei, Chinese firms are sparsely represented in the report’s table of “top companies driving disruptive innovation”. Apple was way out in front with 37 per cent, while Google (23 per cent) and Microsoft (15 per cent) rounded out the top three.

Lenovo was the only ranked Chinese firm, coming in fifth place with 11 per cent of the vote.

However, one area where China is leading, and innovating, is cloud computing.

The Asia Cloud Computing Association last year revealed the Chinese government is set to invest $154 billion to grow the industry and has ascribed five Cloud Computing Service Innovation Pilot Cities to help lead the way.

EMC’s president of Greater China, Denis Yip argued back in June that the country is leading the world in cloud deployments – helped by the fact that most organisations don’t have the 50-60 years of legacy systems holding them back that US and European firms have to deal with.

The Silicon Valley Bank certainly thinks there's potential in the PRC, having announced a joint venture with Shanghai Pudong Development Bank (SPDB) which will see it lend to local start-ups. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.