Atomico has published this year’s edition of the report “State of European Tech”, with the key finding that the technology sector is growing – and particularly quickly. Europe’s economy grew by 0.2 per cent in the third quarter of 2018, according to the study. In the same period, growth in the tech sector was five times as high. Nevertheless, the sector accounts for only 2.5 per cent of the whole economy.
Switzerland overall stood out in the report, with the Zug region named as the fastest growing tech hub in Europe. Factors considered were technology events and the number of experts who participated. In terms of population size, Zurich ranked among the five cities where startups have received the most funding since 2013. Cambridge topped the list, followed by Amsterdam, Paris and Stockholm.
The report also revealed the companies that have invested the most in tech startups. Banks dominated, with the Zürcher Kantonalbank coming second in Europe behind BNP Paribas of France. It participated in 20 financing rounds in the last 12 months.