London Likely to Remain Europe’s Top Tech-Startup Hub Despite Brexit Uncertainty
The uncertainty looming over U.K. businesses in the run-up to Brexit appears not to have threatened London’s position as the top startup ecosystem in Europe.
- The U.K. boasts more than double the number of venture capital (VC) deals than its closest European counterparts.
- The U.K. startup ecosystem — led by companies in London — continues to attract the lion’s share of VC investments in Europe.
- London has by far the highest concentration of startups in Europe and enjoys a number of hard-to-copy favorable factors, which should safeguard the city’s leading position whether the U.K leaves the EU with or without a deal.
In the fourth quarter of 2018 the U.K. continued to lead in Europe in number of startup deals (the number of VC investments), capturing 29% of all deals in Europe, according to global VC database Dow Jones VentureSource. France and Germany came second and third during the quarter, with 13% and 12% of the total number of deals in Europe respectively.
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