While London has been leading the way as the technology center of Europe, the stage seems set for some new options in the next 10-15 years. One of which is Berlin. The evidence:
- There are more international and venture capital (VC) investors coming into Germany than other European locations
- Berlin is attractive to international talent
- Berlin/German immigration should remain much easier than in a post-Brexit UK
- More companies are increasing their presence and capabilities in Berlin, creating an environment where large companies and start-ups are highly engaged with each other
- Berlin is focused on the technology sector and not distracted by financial and consulting industries
- It costs much less to live in Berlin than London
- The economy in Germany allows companies to scale up and helps fuel growth in new markets
Facts you might not know about Berlin:
- 44% of Berlin is made up of parks, recreational areas, woods and rivers
- There are more bridges in Berlin (1,700) than in Venice
- It has more museums (180) than rainy days (106)
- It is much bigger than you probably thought: Berlin is nine times bigger than Paris!
- Berlin is the most multi-cultural city in Germany. Its 3.5 million inhabitants include over 470,000 residents with foreign passports. People from over 184 nations are long-term residents of the city
Does this leave you wanting more fun facts about Berlin? Try these:
London has been the undisputed European technology centre. Until now. Our view is Berlin will rapidly begin to take over, and in 10-15 years we will see the Berlin cluster as Europe’s technology hot-bed. Already the stage is set. German tech companies receive only 400-500 VC investments per year, versus 1,000-1,500 for the UK as whole. However, Berlin has consistently been in Europe’s “top 4” (along with London, Paris and Stockholm), and received more tech capital in 2015 than any other European city.