Long known for its art and culture, Europe is also home to a thriving startup culture. Combine the rich history and diversity of Europe with the growing levels of startup funding and talent attraction on offer, and it’s an exciting time to operate in these cultural capitals.
There are several startup hubs across five European countries, just take a look below. Here are three reasons why you’ll want to consider European startups for your next role or investment:
1 – Europe is home to amazing cities which contrast a rich history with a fast-paced tech culture:
From Amsterdam to Milan, Europe’s cities are attracting talent and funding. In 2020, Europe’s biggest startup hubs were London, Berlin, Paris, Amsterdam, and Barcelona. In Italy, the fashion capital Milan is home to the country’s startup scene with more than 46% of Italian startups based in the Northern city – including BOOM.
The blend of old-world charm and the energy of startup culture is a compelling reason to work at a startup based in Europe. Then, there’s the growth. The investment rate in European tech companies is growing faster than its North American and Asian counterparts. In 2020, European startups raised €4.4bn. Techzine reports that as of July 2021, that figure has quadrupled to €18.6bn, and it’s expected to reach €95bn by the end of 2021.
2 – Europe has substantial funding opportunities and grants, plus awards celebrating startup innovation and success:
Forbes says this is a golden age for European startups. With remote work increasing, traditional startup hubs like Silicon Valley are less critical for funding and talent attraction.
In today’s world, European tech startups can raise funding and attract global talent while staying in the EU. Forbes also reports that European tech employees have increased by 43% over the past four years. This emphasis on talent attraction and startup funding is paying off as Europe now has 70 startup unicorns.
There are also Eurocentric awards for innovation and success for the startup scene:
- The Europas nominated BOOM for Hottest B2B/SaaS company this year.
- The EIT Awards – Awarded by the European Institute of Innovation and Technology offers five categories of recognition, including sustainability and woman-led innovations.
- Global Startup Awards – Scattered across 114 countries, the GSA aims to connect the top 1% startup hubs worldwide.
3 – Europe is home to a large pool of creativity and talent. There’s a strong connection among the different markets, yet each retains its individuality:
With 27 countries in the EU, there’s great diversity in architecture, landscape, food, and languages. As a result:
- Over half of adults in Europe can hold a conversation in another language, and 20% can speak two different languages in addition to their native tongue.
- EU nationals can freely move about other EU member nations. Plus, there are other forward-thinking ways of attracting talent into Europe, such as Estonia’s e-Residency.
- There’s EU Investment into the creation of a digital infrastructure for European-based businesses and public administrations.
So, the European startup scene is exploding. There’s talent and startup funding available for innovative startups in multiple cities. If you’re a potential partner or investor, you may want to consider the EU! What will you create next and where will it take you?
Here at BOOM, we’re based in the heart of the European startup culture in vibrant Milan in Italy. We enjoy working with customers all over the world.
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