Europe’s first- and second-tier startup hubs are growing the fastest, pulling away from their smaller rivals, according to a Sifted analysis of Dealroom data.
In 2018, Europe’s four leading startup hubs—London, Paris, Berlin, and Stockholm—collectively accounted for 37% of venture deals worth at least €2m. That’s up from 31% in 2014.
Europe’s second tier startup hubs—led by Dublin, Helsinki, Munich, Barcelona, Amsterdam, and seven additional cities—collectively expanded their share of venture deals slightly from 14% in 2014 to 15% in 2018.
The remaining startup hubs, as a group, lost ground. That’s the main takeaway from Sifted’s Chart of the Week in partnership with Dealroom.
Combined, the sixteen Tier 1 and Tier 2 cities now account for 53% venture deals in Europe, up from 46% in 2014.
This follows a global trend over the last decade, which shows that although more cities than ever are participating in the venture-backed startup economy, the leading cities are growing even faster, and pulling away from the rest.