On Thursday, two Indian cities made it to the top 40 of the world's most favourable ecosystems to build a globally successful startup.
Bengaluru was ranked 26th and Delhi, made it to the 36th position in the 'The Global Startup Ecosystem Report 2020' by Startup Genome. The list was topped by Silicon Valley in California.
Meanwhile, Mumbai topped the Emerging Ecosystems ranking list which also featured Chennai, Hyderabad and Pune.
The Startup Genome report analyses cities around the world where early-stage startups have the best shot at building global success. Startup Genome is a California-headquartered innovation policy advisory and research firm.
Bengaluru along with Paris and Singapore stood out for high access to funding and Delhi ranked well for the volume and complexity of patent creation in the analysis, which found London and New York tied for the second spot.
Access to capital, investment and global talent has fuelled London's ascent to number two, up from number eight in 2012 when the first rankings were released.
The research found that the UK capital is among the top cities in the world to grow a globally leading company, with startups in London benefitting from high levels of global connectedness to other top ecosystems, and a flow of knowledge into the city which helps them to build global market reach.
London and New York also overtook Silicon Valley in the connectedness ranking, a factor based on the number of tech meetups in the ecosystem and a life sciences-focused measure of accelerators and incubators, research grants, and R&D anchors in the ecosystem.
Separate FDI Markets data found that London and India have shared strengths in technology and innovation, with London coming in as one of the most popular cities for Indian companies looking to expand internationally over the last five years, based on the number of projects.
Indian companies that have chosen London as the city to scale their business include ride-sharing unicorn Ola, which expanded to London last year, and IT giant Infosys, which recently opened its first design and innovation studio in the city's tech hub.
London companies are also increasingly looking to India for international expansion, with India ranking as the eighth country in terms of the number of projects from London over the last five years, generating a total capital investment of 13.66 billion pounds.