Authors
Mike Wardle, Professor Michael Mainelli
Published by
Long Finance & Distributed Futures (May 2023), 49 pages.
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The Smart Centres Index 7
The seventh edition of the Smart Centres Index was published on 25 May 2023. SCI 7 rates the innovation and technology offerings of leading commercial centres, tracking their ability to create, develop, and deploy technology.
The SCI is a factor assessment index, combining a number of instrumental factors - data measures drawn from a range of data providers across the world - and assessments given by business and finance professionals of three dimensions related to innovation and technology in major commercial and financial centres:
- Innovation Support - the support provided by regulatory and other systems to innovation and technology in a centre.
- Creative Intensity - the intensity of technology and innovation services and opportunities in a centre.
- Delivery Capability - the quality of the technology and innovation work that is taking place in a centre.
131 commercial and financial centres were researched for SCI 7 of which 77 are included in the index. SCI 7 was compiled using 136 instrumental factors. These quantitative measures are provided by third parties including the World Bank, The Economist Intelligence Unit, the OECD, and the United Nations.
The instrumental factors are combined with financial centre assessments provided by respondents to the SCI online questionnaire. SCI 7 uses 1,806 assessments provided by 257 respondents.
SCI 7 Results
- Western European and US centres show continued strong performance, but Asia/Pacific centres have fallen back a little.
- London took first place in the index, with New York and San Francisco in second and third.
- Four Western European centres feature in the top 10, and three from the US. Singapore and Hong Kong feature in the top 10 among Asia/Pacific centres. Tel Aviv enters the top 10 for the first time.
- Five centres rose 10 or more places in the rankings in SCI 7, while six centres fell 10 or more places.
- Following a fall in the average ratings in SCI 6, the average rating in SCI 7 rose by 6.28% with all centres rising in the ratings. This may show increased confidence in the quality and depth of technology and innovation development across the world.