10 high-growth tech hubs in the world

Silicon Valley still plays a dominant role in startup creation. However, Chinese cities Beijing and Shanghai are catching up, according to a new report released by CB Insights, a US-based venture capital database.

"Since 2012, Silicon Valley-based tech companies brought in a total of 12,000 deals, followed by New York area-based companies with 5,000," the report said. "For funding, Silicon Valley companies brought in a total of $140 billion, with Beijing next, coming in at $75 billion."

However, "Beijing and Shanghai are poised to be the tech hubs of the future," the report said. "They lead among high-growth hubs for unicorns and mega-rounds. Company creation is accelerating."

As of May 20, Silicon Valley, with 57 unicorns, leads the world in unicorn numbers, while Beijing has 29 and Shanghai has 11. But in the first quarter of 2018, Shanghai and Beijing welcomed three new unicorns, the same number as Silicon Valley.

A total of 25 tech hubs around the world are listed in the report, among which 10 belong to high-growth tech hubs. Let's take a look.

Austin