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Data on the size of tech-related Meetup communities per city is useful in helping identify a new generation of hubs emerging across the region and achieving meaningful scale in the number of active participants in local tech-related Meetup events.
The signs that every city in Europe is becoming - or will eventually become - a tech city continue to strengthen. There are now 180+ hubs across Europe that host tech-related Meetup events with high levels of regularity throughout the year.
It’s clear that Europe’s tech ecosystem to date has been driven by just a handful of cities. The share of capital invested over a five-year period in leading cities versus their relative share of professional developer talent is telling. For example, 76% of all capital invested into Europe since 2013 has flowed to just 10 hubs representing just 30% of the talent pool.
Share of capital invested (2013 to 9M 2018) versus share of professional developer talent pool for Top 3, 5 & 10 hubs
Legend
- % capital invested
- % professional developers
- Note:
- Top 3 hubs based on total capital invested 2013-3Q2018 are London, Berlin, and Paris. Top 5 adds Stockholm and Barcelona. Top 10 adds Cambridge, Dublin, Amsterdam, Madrid, and Moscow.
It's interesting to compare the 'bang for buck' different cities have achieved by measuring across them the level of capital investment per local professional developer. Such comparison shows Berlin stands apart as a real outlier, having attracted a disproportionate level of investment relative to its local developer pool.
Top 10 European cities for capital invested ($) per professional developer
Legend
- Capital invested per developer ($)
- European average ($)
- Note:
- Investment amounts are based on capital invested in the city in aggregate between 2012 and September 2018 divided by the total number of professional developers (2018) in the city.
The emergence of global hits like UIPath from Bucharest, Supercell from Helsinki, Farfetch from Lisbon -- all from far beyond the unicorn-factories of London, Stockholm and Berlin - marks a new era for Europe.
The big change is that there are now plenty of examples of how it’s possible to create world-changing companies from all over Europe. The emergence of global hits like UIPath from Bucharest, Supercell from Helsinki, Farfetch from Lisbon -- all from far beyond the unicorn-factories of London, Stockholm and Berlin - marks a new era for Europe. However, so far founders from non-hub cities have been inadequately served by investors who tend to focus on the traditional geographies and are not equipped to offer the same support when a startup originates from a small town in, for example, Germany or Estonia.