Silicon Valley may lose its prestigious status as the world's tech hub. Some of the biggest European cities are beginning to offer serious competition that could see the so-called Mecca of tech lose its edge.
There can be no doubt that Silicon Valley is the world's tech leader. That won't be changing in the immediate future, but its appeal among growing executives has waned in recent years. The cost of living, question marks around diversity and corporate culture, sky-high business taxes and more are causing some to look elsewhere.
Here are the 5 European cities that are turning heads in the tech world.
London
The UK stands neck-and-neck with Japan in terms of attractiveness for tech businesses, and the wealth of London startups speaks for itself. London is a leading destination for global tech investors thanks to its world-class universities and a uniquely diverse talent pool. The Big Smoke cannot be ignored as a hub for innovation, with many UK startups showing great promise from the capital.
To give you an idea of the buzz in London, fintech startup Chip recently raised €11.5 million in just 48 hours via Crowdcube and Future Fund.
Berlin
The German capital has a cool image and is known for its very open attitude - just two of the many factors that make it an attractive destination for innovative minds. It has a very strong foundation in terms of capital, quality of life and tech support. As such, Berlin startup jobs are on the rise and the city is swiftly progressing amongst the European tech hubs.
Last month Apheris was able to raise €2.5 million for its solutions to make secure, private data collaboration and analysis possible.
Paris
Another city that is swiftly making its mark in global tech innovation, Paris is far more than a blip on the radar. One thing that makes Paris a particularly attractive proposition is that French tech people are driven to raise the overall status of the French tech ecosystem in the eyes of the world. This means they are keen to help each other grow and prosper.
Earlier this month reciTAL e raised €3.5 million to grow its AI-driven document intelligence solutions,
Amsterdam
The popular Dutch city is a thriving European tech hub with a very impressive digital infrastructure. International tech professionals and investors are waking up to the potential of Amsterdam, and it is home to a hugely creative tech scene filled with exciting, innovative tech startups and established firms. You won't find many cities that can match Amsterdam for general internet speed and standard of living.
AMMP raised €1.15 million to grow its software for renewable energy companies in emerging markets.
Barcelona
The Spanish city is emerging as a buzzing startup hub and a European tech hotspot. While it still has ground to make up on the other cities in this list, it is a vibrant city where entrepreneurs, investors and other tech-minded people can thrive.
Medtech startup IOMED, based in Barcelona, raised €2 million a few weeks ago to expand across Spain and beyond.
Summary
As you can see, the appetite for innovative tech startups in these 5 European cities is being backed up by a wealth of investment funding. This is an exciting time to be involved with tech in Europe. Opportunities to innovate with new solutions for various sectors are abundant across the continent. These cities are definitely worth exploring for people looking to grow their tech career without heading to Silicon Valley.
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