Phoenix ranked among the 100 most innovative cities in the world

Phoenix ranked among the 100 most innovative cities in the world

 
Article Originally Posted By AZBigMedia on October 4, 2021
 
 

B2B financial service platform FINOM.de has released a study showing the best cities in the world for business innovation. And Phoenix has proven to be among the most innovative cities in the world, coming in at No. 51 in the global rankings.

As a company that is using new technologies to improve business and the life of entrepreneurs and professionals in Europe, FINOM decided to create the first FINOM Innovation in Business Index to see whether certain cities are hubs for business innovation. The study splits the innovation landscape into different areas, including research and development, startup activity and funding availability, in addition to looking at innovation on an individual industry level, for example in artificial intelligence, biotechnology and fintech. The resulting index gives insight into which global cities lead the way in having ecosystems that are fertile for business innovation, and reveals which cities are global leaders for innovation in each industry.

“Being a B2B financial platform, we are quite aware that business innovation rarely happens in isolation,” comments Yakov Novikov, CEO and co-founder of FINOM. “Throughout history successful innovative companies have initiated the development of a supporting ecosystem in their home town or city, for example Ferrari, which brought employment and manufacturing expertise to Modena in Italy almost a century ago. More car companies subsequently moved to the city, including Lamborghini and Maserati, attracted by its deep industry knowledge and skilled workforce. This process eventually led to the creation of the so-called “Motor Valley” in that part of Italy. The same trend continues to be seen today, with different cities leading the innovation landscape in different industries. The study shows that Boston is the leading city for biotechnology innovation, while San Francisco tops the list for green technologies innovation. These cities have significant industry know-how and a wealth of supplier companies that feed into the supply chain.”