KPMG has released its survey that show, technology companies in Asia Pacific and Europe, Middle East and Africa find it easier to raise funds for innovation, than in the United States, considered the technology capital of the world.
“Survey responses in Europe, Middle East, and Africa (EMEA) also showed a shift as 51 percent said funding is widely accessible at their company for technology innovation, an increase from 48 percent last year,” the report said.
“The survey findings fit with the activity we are seeing in key markets around the world. Companies globally, regardless of where they are based, are shifting investment for technology innovation to markets in Asia Pacific and other regions to pursue growing opportunities,” said Gary Matuszak, Global Chair of KPMG’s Technology, Media and Telecommunications practice.
“As we detail in our global technology innovation report, there are several reasons for the shift, including government incentives, the adoption of Cloud, mobile and social media sparking innovation in those markets, and corresponding emerging ecosystems.”
In Africa there are various investments towards technology related ventures. Liquid Telecom recently invested over US$700,000 in Uganda to expand their network. This was after announcing a US$34 million investment in the Rwandan fibre network.
Such investments will be seen in Africa as the gap to internet connectivity remains wide and more companies see the opportunities therein.