Today, Rocket Internet-backed startup NestPick released a list of the top six European cities to start a startup.
NestPick provides Airbnb-like functionality for international students looking for medium- and long-term accommodations. Their top six picks are based on their experience in various cities plus research into the political, cultural, and economic factors affecting the local startup scenes. Let's take a look at the top 6 European cities for startups:
1. Berlin, Germany
Population: 3.5 million
On AngelList: 848 Berlin startups, 5,392 Berlin angel investors
Berlin Startup Success stories: SoundCloud, Wooga, Zalando
A McKinsey report quoted by NestPick estimates that Berlin startups will create over 100,000 jobs by 2020.
2. Budapest, Hungary
Population: 1.73 million
On AngelList: 168 Budapest startups, 4,646 Budapest angel investors
Success stories: Prezi, Ustream, LogMeIn
“The majority of young Hungarians have a high educational level, the Internet is exceptionally fast all throughout the city, and there are initiatives that offer venture capital from the European Investment Fund to finance innovative startups,” says NestPick.
3. London, UK
Population: 8.31 million
On AngelList: 4,112 London startups, 7,143 London angel investors
London Startup Success stories: Mind Candy, Hailo, Shazam
The UK government has invested £50 million to help the London startup scene thrive (and compete with its rival, Berlin).
4. Barcelona, Spain
Population: 1.62 million
On AngelList: 404 Barcelona startups, 4,985 Barcelona angel investors
Barcelona Startup Success stories: Catchoon, Social & Beyond, Omnidrone (via Wired)
“The Spanish government improved entrepreneurial conditions in terms of tax breaks and funding programs, and will stick to those adjustments in the following years [after the economic crisis],” says NestPick.
5. Amsterdam, Netherlands
On AngelList: 500 Amsterdam startups, 4,935 Amsterdam angel investors
Amsterdam Startup Success stories: Human, The Clockroom, Ace & Tate (via Wired)
According to NestPick, Amsterdam is ranked as the most creative global city and has an entrepreneurship rate that's 6% higher than the European average.
6. Tallinn, Estonia
On AngelList: 151 Tallinn startups, 4,674 Tallinn angel investors
Estonia Startup Success stories: GrabCad, Erply, Pipedrive (via Wired)
The Wall Street Journal says that “Estonia is the 132nd smallest country in the world by land mass yet it produces more startups per head of population than any other country in Europe.”
Images courtesy of Wikimedia Commons