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Startup Cities | 5 of Europe's Best Entrepreneurial Hot Spots

jlucas

For many entrepreneurs, launching a new business venture represents an opportunity to wipe the slate clean and make a new start - potentially even in a brand new city or country. Deciding on the location of your base of operations can be one of the most important decisions you make, and many of Europe's major cities have invested heavily in attracting startup capital in recent years.

 

Here are five of the best European cities for starting a business in 2017.

 

Amsterdam


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When Amsterdam bills itself as 'Europe's most connected tech city', it isn't just employing spin. From the ease of navigation along the small Dutch capital's attractive cobbled streets and canals to its excellent air and rail connections across the continent, Amsterdam has proven to itself to be a vibrant and highly modern cornerstone of European business and innovation. English is also widely spoken throughout the city. Globally recognised businesses including Netflix, Tesla and Uber have Amsterdam offices, while homegrown startups such as The Things Network are making major waves all over the world.

 

Berlin

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Germany's cosmopolitan capital consistently ranks among the world's top startup cities, and some pundits have speculated that continued growth coupled with uncertainty over 'Brexit' could push it ahead of London in the next few years. Over 50% of startup employees currently working in Berlin hail from other countries, attracted by the city's excellent entrepreneurial eco-system and diverse, supportive community. Living costs in Berlin are surprisingly affordable, and with many top businesses and educational institutes making the city their home, the talent pool is exceedingly rich across a wide variety of sectors.

 

Dublin

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Another city that hopes to benefit from the UK's forthcoming exit from the European Union, Dublin could well open its doors to global entrepreneurs who wish to keep their headquarters in an EU capital. Industry giants such as Google, Twitter and Facebook already have offices in the city, as do numerous well-funded research centres. This international flavour is matched by a strong sense of community - Dublin is a small, friendly city where many business leaders and entrepreneurs find it easy to connect and collaborate. As of May 2016, around 2,250 startups called Dublin their home.

 

Lisbon

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Portugal may be better known as a holiday destination than a global tech hub, but in recent years their capital has emerged as a major player on the global scene. Cost of living is low, the climate is attractive, and heavy investment in infrastructure and attracting foreign companies has been a core part of Portugal's recovery strategy after years of recession. In November 2016, the global tech conference Web Summit took place in Lisbon, solidifying a three-year partnership and shining a light on this underrated corner of Europe's business scene.

 

Stockholm


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Unlike Lisbon, Stockholm could neither be described as a sunny or a cheap place to make your home. Despite this, the Swedish capital has produced more billion dollar "unicorn startups" per capita than any other city in Europe - including Spotify, Skype and Mojang. One of the most English-fluent countries in the world, Stockholm offers an excellent standard of living and one of the best business ecosystems in Europe. With a high focus on global exports and heavy government investment in research and development, Stockholm is also one of the most outward-looking business hubs around. If your business thrives in Sweden, international success is likely to follow.

 

Which European entrepreneurial hot spots would you recommend to a new startup? Have you ever relocated yourself to start a new business venture? Let us know in the comments section below...

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  • in reply to michaelkellett

    Hi Michael

     

    This article is based on several previously published pieces about European tech hotspots. References to 'Brexit' are not intended as political statements, but merely to reflect how other European cities may hope to benefit. Whether it turns out to be a net positive for entrepreneurship in London or not, there are many ways in which it has the potential to impact business across the continent in both positive and negative ways, and I think that bears discussion.

     

    In any event, this is not intended as a definitive top 5 of Europe's best tech cities, but simply an opportunity to shine a light on some great locations outside the UK/USA.

     

    Hope this clarifies things!

  • in reply to jlucas

    To quote Brexit and omit London is a political act.

     

    To list "5 of Europe's best ......." and leave out the city consistently rated first or second is misleading.

     

    MK

  • in reply to michaelkellett

    I can only speak on one startup that I'm working with, they were planning to incorporate in the UK, but now their plan is to continue with that (since that was their original plan) but look to incorporate in the US (and have an office in west coast) as soon as they seek funding. There is now a school of thought that it could make a difference (positive or negative) where one locates, for access to not just funds but also access to people (since many startups consist of people from several countries) and I can see some believing that cutting immigration means difficulty recruiting.

    It is the instability of not knowing precisely what will happen, which could cause issues in the next few years. The big companies have dedicated staff to deal directly with government and planning for different scenarios, but the smaller ones won't. If things change even for just a few years it could have big implications. As we know, in some industries that period of time is sufficient to leapfrog the competition, i.e. if certain businesses innovate in this period, then it will be very hard for others to catch up in that industry.

     

    Although positive in 2016, it looks like things can change quickly too, e.g. this chart from ft.com:

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    This view shows total value of Germany VC investment dropped from one year to the next, but the difference is huge, almost entirely swapping with the UK it seems. This was pre-brexit vote though.