New York – New York jumped up three places in the global rankings since the 2012 report, partly as a result of the fact that the city is the most popular destination for non-U.S. start-ups to open a second office.
"New York City has made an incredible run from being a small ecosystem to just about outgrowing everyone," says Herrmann.
"It's probably the biggest contender to match Silicon Valley in the future."
Chicago – Chicago, according to the report, is both one of the fastest growing regions for tech start-ups, and one of the most undervalued by venture capitalists. The city, however, is one of the more progressive, and is an especially good spot for female businesswomen -- 30% of business founders are female in Chicago, compared with 18% globally.
Singapore – Singapore is blessed with great geographical positioning. Its location helps it bridge the markets of China, India, Indonesia and Malaysia.
"Being a Singapore start-up forces us to think globally from day one," notes Alvin Yap, founder of The Mobile Gamer.
Singapore also attracts an incredible amount of capital.
"A lot of South East Asian companies, like those based in Kuala Lumpur and Bangkok, tend to move to Singapore because the funding they get there is so much better, or they open a second office there," notes Herrman.