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The European ecosystem benefits from interconnectivity in a number of ways that help drive the flow of knowledge, talent, and capital. Exchanges amongst counterparts, whether founders or investors, enables the flow of useful ideas and knowledge throughout the European tech ecosystem.
The combination of an increase in competition for talent in established European tech hubs together with the increased attractiveness of a new generation of tech hubs across the region is helping to drive an increase in founders' interest in opening satellite offices to tap new talent pools. 80% of founders of companies with more than 100 employees state an increased interest in pursuing this ‘distributed office’ strategy.
The principle of scaling a European tech company by building in a distributed way across multiple offices in different cities is firmly embedded. By the time European startups have hit 100 employees or more, more than half of them have established a satellite office or team in another hub.
In addition to opening offices in new hubs to tap alternative talent pools, a large number of European founders recruit high-performing talent from other hubs, though the likelihood of doing so increases significantly as the size of the company increases.
Europe's tech ecosystem also benefits from an interconnected flow of capital, driven by connections between investors and founders across borders. Europe's VCs, in particular, are highly connected and have almost unanimously built relationships and benefit from positive interactions with fellow investors from other hubs across the region – a unique advantage given the diversity of the European market as a whole.
Europe's tech ecosystem also benefits from a valuable series of international events that help to interconnect hubs via network flow. The overwhelming majority of investors and a clear majority of founders and startup employees have attended events in other hubs that they have found useful.
The continued development and growth of the numerous tech-hubs across Europe will be a critical factor in incubating the next big tech successes.
The continued development and growth of the numerous tech-hubs across Europe will be a critical factor in incubating the next big tech successes. Europe boasts some of the world’s most progressive universities and research institutions, contributing directly to the growing and diverse pool of ideas and talent across London, Paris, Berlin, Stockholm, as well as other European hubs. Governments and policy makers across the region are also increasingly responsive to the technology-led agenda through forward-thinking regulation and investment in next-generation digital infrastructure. These factors combine to provide the foundation for partnerships between bold entrepreneurs and bold investors in building the businesses that fundamentally disrupt the status quo.