Global rank: 11

Paris startups are a lot more focused on B2B than SV entrepreneurs. On the downside, the Paris startup community is “not much of a magnet for out of town entrepreneurs. France and Paris has a long way to go in this area to be able to compete with London and Berlin.”

In general, attracting immigrant talent is a problem in Europe, it seems. This is a sentiment that was also expressed by Alex Brabers of GIMV at a recent VC panel debate in Brussels: he said much of the success of Silicon Valley was achieved thanks to immigrants from India and China, and it was just too hard for European companies to attract foreign talent – or for foreign founders to start a company in Europe.


Just like most other European startup scenes, Paris has a significant funding gap in the later stages: 95 % less capital in stage 3 (efficiency) and stage 4 (scale) than Silicon Valley startups. Funding in Paris relies more on incubators and self funding than on VC’s and angels.


Global rank: 15

Berlin is “a magnet for worldwide entrepreneurs and investors”, like Alexander Ljung and Edial Dekker of Gidsy. Berlin even “feels like a startup itself”. Berlin is certainly trying hard to beat its drum lately, what with the arrival of a Pier 38-like tech hub ‘The Factory’. Geographically, its location is interesting – it’s more peripheral than Paris or London, but it does have better access to the Russian and Eastern European markets, which are less mature than the Western European markets.

Berlin has a healthy mix of early stage and late stage startups, but the report does ask whether Berlin will be able to live up to its hype, since it produceces 88% less startups than Silicon Valley. (Rude Baguette’s Liam Boogar thinks Berlin is too much hype and too little substance, but he’s paid to favor Paris over Berlin, after all ;) ). Office space is cheap in Berlin.


Funding gap in the validation stage and after going to market, with almost 80% less capital raised than in Silicon Valley. The Berlin startup scene is more reliant on FFF money and bank loans than on VC’s and angels.


Global rank: 7

“The most successful startup ecosystem in Europe, producing the largest output of startups in the European Union by far, but its output is still 63 % lower than Silicon Valley”.

“The only comparable hub to SV. It offers a wide range of support networks, capital infrastructure and diverse talent.”

London is the female tech entrepreneur capital of Europe. It has the highest proportion of female tech entrepreneurs in Europe (although it’s still only 9 percent.


Funding gap, probably caused by a lack of super angels and micro VC’s.  London entrepreneurs are more risk averse than SV counterparts, and are more likely to be consulting next to their activity as entrepreneurs.  London entrepreneurs are “slow in adopting mobile”.