Budapest has been ranked as the 29th most innovative city in Europe and 74th in the world per 2thinknow’s Innovation Cities Global Index. The annual list ranked a total of 500 cities from 152 countries.
Locations were assessed based on what they could offer startups and small businesses, how they responded to societal challenges of today, and how they adopted and implemented innovative concepts as well as if residents were actively involved in doing so. The list also took into consideration if a city had the conditions necessary for turning an idea into a regional or global innovation.
Additional factors that came into play during the ranking process for the Innovation Cities Global Index were: speed and coverage of broadband, digital transformation, public transportation, local and international travel links, university enrollment, office rents, availability of coworking offices, city support for startups, and access to investors and accelerators.
The top five most innovative cities in Europe were: London, Paris, Berlin, Amsterdam and Vienna. The top five in the world were: Tokyo, London, San Francisco, New York and Los Angeles. Budapest beat Brussels on both lists, and the only other V4 city to appear on the list was Prague (24th in Europe and 63rd in the world).