05.4 Building and internationalising away from home The US is the #1 destination for European tech scale- The US is the #1 destination for European tech scale-ups ups that set up an international office that set up an international oíce. Top 10 most popular countries for US 59% international oíce locations of European UK 53% tech scale-ups that have internationalised their oíce footprint Germany 31% Australia 20% LEGEND % of internationalised companies with oíce in Netherlands 18% country Spain 18% France 16% Italy 14% Poland 14% 0 10 20 30 40 50 60 % of internationalised companies with oíce in country Note: Based on a sample 120 European tech companies that have reached $B+ milestone and/or raised more than $50M in Source: venture capital. Although London ranked as the most cited destination city amongst all respondents, there are clear differences in the top city preferences when analysing the results based on the sub-region of origin of survey participants. On that basis, it’s apparent that London is only Although London ranked as the most cited destination city amongst all respondents, there are clear differences in Although London ranked as the most cited destination city amongst all respondents, there are clear differences in the number one city for respondents from UK & Ireland and from the Mediterranean region. the top city preferences when analysing the results based on the sub-region of origin of survey participants. On the top city preferences when analysing the results based on the sub-region of origin of survey participants. On that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the Mediterranean region. DATASET: BENELUX Mediterranean region. DATASET: WESTERN EUROPE Top 5 hubs where founders would Top 5 hubs where founders would start a Amsterdam Top 5 hubs where founders would start a 48 Berlin 42 company tomorrow, by region company tomorrow, by region start a company DATASET: BENELUX DATASET: WESTERN EUROPE tomorrow, by London 33 Paris 37 LEGEND region LEGEND Share of founders (%) Share of founders (%) Berlin 30 London 23 Eindhoven 18 Cologne 14 Paris 18 Barcelona 13 0 10 20 30 40 50 0 5 10 15 20 25 30 35 40 45 Although London ranked as the most cited destination city amongst all respondents, there are clear differences in Although London ranked as the most cited destination city amongst all respondents, there are clear differences in Share of founders (%) Share of founders (%) the top city preferences when analysing the results based on the sub-region of origin of survey participants. On the top city preferences when analysing the results based on the sub-region of origin of survey participants. On that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the Note: that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the Note: Founders could allocate 3 votes. Percentages indicate how Source: Founders could allocate 3 votes. Percentages indicate how Source: Mediterranean region. Mediterranean region. many founders would like to startup in each respective city. DATASET: NORDICS & BALTICS many founders would like to startup in each respective city. DATASET: CENTRAL & EASTERN EUROPE Top 5 hubs where founders would start a Stockholm Top 5 hubs where founders would start a 42 Berlin 54 company tomorrow, by region company tomorrow, by region DATASET: NORDICS & BALTICS DATASET: CENTRAL EASTERN EUROPE Berlin 40 London 42 LEGEND LEGEND Share of founders (%) Share of founders (%) London 32 Amsterdam 14 Copenhagen 26 Lisbon 13 Amsterdam 15 Warsaw 12 0 5 10 15 20 25 30 35 40 45 0 10 20 30 40 50 60 Although London ranked as the most cited destination city amongst all respondents, there are clear differences in Although London ranked as the most cited destination city amongst all respondents, there are clear differences in Share of founders (%) Share of founders (%) the top city preferences when analysing the results based on the sub-region of origin of survey participants. On the top city preferences when analysing the results based on the sub-region of origin of survey participants. On that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the Note: that basis, it's apparent that London is only the number city for respondents from UK & Ireland and from the Note: Founders could allocate 3 votes. Percentages indicate how Source: Founders could allocate 3 votes. Percentages indicate how Source: Mediterranean region. DATASET: MEDITERRANEAN Mediterranean region. DATASET: UK & IRELAND many founders would like to startup in each respective city. many founders would like to startup in each respective city. Top 5 hubs where founders would start a London Top 5 hubs where founders would start a 47 London 71 company tomorrow, by region company tomorrow, by region DATASET: MEDITERRANEAN DATASET: UK & IRELAND Barcelona 44 Berlin 34 LEGEND LEGEND Share of founders (%) Share of founders (%) Berlin 28 Paris 28 Milan 20 Barcelona 21 Lisbon 15 Dublin 16 0 10 20 30 40 50 0 10 20 30 40 50 60 70 80 Share of founders (%) Share of founders (%) Note: Note: Founders could allocate 3 votes. Percentages indicate how Source: Founders could allocate 3 votes. Percentages indicate how Source: many founders would like to startup in each respective city. many founders would like to startup in each respective city. & 76 In Partnership with www.thestateofeuropeantech.com