#8 Toronto

Country: Canada

Startup Output Index: 6

Funding Index: 9

Performance Index: 3

Overall rank: 8

MaRS Discovery District, in Toronto, has become center for technology and innovation. Housed in a massive historical building — a former hospital that was the site of the first administration of penicillin — MaRS opened the doors to its 700,000 square foot centre in 2005 to be a non-profit center for all things tech, science, and medicine.

The City of Toronto’s Economic Development and Culture department, 30 per cent of Canada’s ICT (Information, Communications and Technology) industry is based in Toronto, as per its 2011 report.

#7 London

Country: The United Kingdom

Startup Output Index: 7

Funding Index: 5

Performance Index: 10

Overall rank: 7

Silicon Roundabout, as it’s known, is the epicenter of the British government’s effort to turn London into a global technology hub, reports Boston Globe.

The success of a few of those start-ups, businesses such as Last.fm, Moo.com, and Dopplr, is trailblazing London as technology hub.

About 30 companies from the United States have opened in Tech City in the last two years, consulate officials said, and many more Massachusetts companies have expressed strong interest.

Google, Amazon and Intel Facebook, Twitter, and other big companies have already have opened their offices here. Spotify, Skype and Wonga.com are doing great.

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