Paris, Berlin & London home to as many developers as Silicon Valley
Posted: 6 December 2016 | By Darcie Thompson-Fields
The UK currently has 31 percent of European startups but that could fall to 24 percent, as France and Germany gain at Britain’s expense says a report from Balderton Capital.
Investment group Balderton Capital have announced the results if their European Talent Landscape 2016 report in which they profiled almost 15,000 employees in over 1,000 venture-backed companies in Europe. The results were announced yesterday at TechCrunch’s annual Disrupt London by partner James Wise, who sat on a panel alongside French government minister Axelle Lemaireto and the UK’s digital minister, Matt Hancock to debate the effect of Brexit on the UK tech industry.
The report found that London, along with Paris and Berlin dominate the European start-up landscape despite uncertainty post Brexit. These three cities are also home to nearly as many developers as Silicon Valley with 515k (300,345 of which reside in London) compared to the Bay’s 564k.
Britain’s share of European startups could fall from 31 to 24 percent
However, Britain’s share of European startups could fall from 31 to 24 percent with France and Germany gaining at Britain’s expense. Immigration post Brexit could drastically effect Britain’s tech workforce with 40 percent of founders coming from or spending considerable time abroad.
“The number one thing overriding everything else is access to talent,” said Wise. “This makes a lot of sense. The tech community is particularly reliant on migrant workers. If you look at all of the industries within the UK, within the top ten you see computer programming and scientific research as a percentage of migrants within their workforce.”
“The UK is still the number one nation that people look to for work in tech roles outside of their home country across Europe – and that’s not really changed a lot since the Brexit vote… And the UK’s benefitted massively from this,” he added.
Europe’s tech industry remains male dominated with 4/5 (82 percent) of startups having a less than 50 percent female workforce. At senior levels women hold less than a quarter of senior positions in 73 percent of companies.