A record 19B$ of investments, an increasing employment growth…Europe is doing fine!
The investment fund Atomico just released this year State of the European Tech report during Slush festival. Since 2015, the two partnered to produce a comprehensive and data-proven report on the European tech scene.
This year, the European tech industry momentum was confirmed! 19.1B$ were invested in the European tech – compared to 14,2B$ in 2016 and the total employment growth for the tech ecosystem has gone up from 2.1% from 2015 to 2016 to 2.6% from 2016 to 2017.
The European tech has this specificity of being the home of various and complementary tech hubs. Because it is a continent made of diverse cultures and verticals, there are huge opportunities when launching new businesses and making your company grow.
A RECORD YEAR IN TERMS OF INVESTED CAPITAL
While new hubs are emerging (Amsterdam, Munich, Barcelona), UK remains the main destination in terms of invested capital. France nonetheless is seriously challenging UK predominance for the most number of deals closed per year: 753 (FR) vs. 728 (UK)
A HIGH-LEVEL COMPETITION FOR TALENT
172 tech-related events take place daily across Europe on Meetup’s platform, a new dynamism that participates to attracting talent to Europe. The European tech scene is already home for 5.5M developers and possess top-ranked universities in computer science. London and Paris are specifically recognized for AI talent to develop their skills.
The European tech scene is hungry for these tech talents and the most-demanded technical profiles in technology companies are Backend Engineer, Frontend Engineer and Fullstack Engineer.
The European tech scene also attracts 1 out of 5 business-minded talent getting out of top-ranked business schools MBA.
Founders of startups and giant tech companies are well aware of these assets as more and more of them choose to set up their company on the European continent.
There is a lot more competition for talent both from established tech giants and new companies starting up across Europe. European startups need to treat finding, growing and keeping talent just like they would customer acquisition or product development: have it s a key metric on the management dashboard and see it not just headcount but pipeline, attrition, development programmes and succession planning.
Dan Hynes – Atomico
Look at the whole Atomico report
Watch out the teasing video.