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The cities around the world doing their best to foster innovation, according to the Dubai Chamber
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1. Hong Kong: The leader in the report for 2017, Hong Kong has been investing upwards of $18bn in improving education quality. Also, the Research and Development (R&D) Cash Rebate Scheme promotes research culture between businesses and public research institutions.
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2. New York: Last year’s top city slipped to second but it remains the top hub in its innovation infrastructure, particularly in ICT. Of note was a new virtual and augmented reality (VR/AR) lab in New York University’s Tandon School of Engineering. The city’s banks also offer good support for entrepreneurs.
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3. London: The UK’s capital came third and continues to stand out for the large number of students enrolled in higher education and private sector investments in innovation. Clean tech businesses came to the forefront in 2017, particularly the evolution of low-carbon industries.
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4. Singapore: Coming in fourth, the city-state led the way in social metrics, where stability, growth and government effectiveness were contributing factors. In 2017, the government launched a skills future initiative to help companies train employees in more technological skillsets.
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5. Dubai: Dubai came in 14th out of 30 comparative cities, and scored well in employment levels, political stability and human development. Despite a challenging economy in 2017, Dubai launched several initiatives to encourage innovation, including its Artificial Intelligence strategy.