A new report on the state of European tech argues that the sector is thriving, and could soon rival Silicon Valley.
The report, by Atomico, aims to provide a useful, credible and transparent data-driven look inside the European tech ecosystem.
It focuses on a few main areas, such as capital flows over the past few years, combining it with an assessment of local talent, the strength of the tech communities and the exit landscape.
The three major trends Atomico identified include that “deep tech” is thriving and diversifying, the number of deep tech startups founded in Europe growing by 3.5x since 2011.
The report also says that new tech hubs are emerging outside of London, Berlin and Stockholm, in places like Lisbon, Madrid, and Copenhagen.
In addition to this, traditional industries are said to be “awakening to tech”, with two thirds of Europe’s largest corporates making direct investment in a tech company, while one third has acquired a tech company since the beginning of 2015.
Check it out here.