Europe's tech hubs are gaining on America's Silicon Valley
Opinion 1 minute read

Europe's tech hubs are gaining on America's Silicon Valley

03 August 2014

Europe is coming into its own with energetic tech hubs springing up in cities like Munich, London, Paris and Amsterdam, according to new report Tech hubs in Europe: common characteristics and distinctive identities.

TMF Group’s latest whitepaper combines the insights of its experts in the Netherlands, France, Germany and the UK with the recent results of a European Commission study into tech clusters. The overriding feeling is that although it is early days for Europe, with tech innovation being concentrated in specific areas, the region is developing rapidly.

Download the full report in English here.

Download the full report in French here.

Download the full report in German here.

Europe’s tech clusters each have their own personality but they also share a number of characteristics. These include cheap office space, start-up friendly local or national governments, grants and tax incentives, as well as a talented young workforce looking to make its mark.

What’s clear is that although each city is coming up against challenges to achieving super tech hub status, they are finding ways around them. Amsterdam Managing Director Huib de Kanter points out that the Netherlands has “a very small home market” but rather than be constrained by this, the city has developed a global outlook.

Meanwhile the UK’s rising rent prices in London are pushing tech start-ups further out, Munich is yet to establish its commercial appeal and France’s home-grown talent is seeking its fortune overseas. But yet growth continues to surge and these hubs are breathing down San Francisco’s neck.

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