04.3 An Ecosystem Powered by Migratory Talent The UK is the #1 source of outbound talent leaving to move to out of Europe, accounting for nearly 2.8x as much outbound The UK is the #1 source of outbound talent leaving to move to another country within Europe, accounting for nearly talent as the next largest source country in Europe. 2.8x as much outbound talent as the next largest source country in Europe Top 10 European source countries for non- United Kingdom 34.9% European destinations in 2018 France 12.3% Germany 8.8% LEGEND Top 10 Sources - 2018 Netherlands 4.6% Spain 4.3% Russia 3.8% Ireland 3.7% Sweden 2.6% Switzerland 2.6% Ukraine 2.5% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 % of tech movers Note: All interpretations of the LinkedIn data are made by Atomico, not LinkedIn. A 'mover' is deïned by LinkedIn as somebody now Source: working in the tech industry that has moved country or industry sector for their primary employment between 2018 and 2017. For additional context, it is worth analysing a similar dataset covering tech talent movement in 2017 provided by LinkedIn For additional context, it is worth analysing a similar dataset covering tech talent movement in 2017 provided by for last year’s State of European Tech. LinkedIn for last year’s State of European Tech Top 10 European source countries for non- United Kingdom 38.0% European destinations in 2017 France 12.4% LEGEND Germany 7.5% Comparison to Similar Data from SOET 2017 Netherlands 4.2% Spain 3.7% Ireland 5.1% Sweden 2.7% Switzerland 2.4% Ukraine 3.2% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 % of tech movers Note: All interpretations of the LinkedIn data are made by Atomico, not LinkedIn. A ‘mover’ is deïned by LinkedIn as someone now Source: working in the tech industry that has moved country for their primary employment between 2017 % 2016. Russia not provided in 2017. Skilled immigration difficulties are taking a toll on Europe’s scaleups, and we are in bad need of more openness in terms of talent acquisition. “ I see two major threats, the first one being education and talent. Europe is among the top in terms of talent & research, but it shouldn’t be taken for granted. The challenge is that if we don’t see forward- thinking, long-term and brave investments in the field of education, we might lose this edge that’s keeping Europe on the surface. Skilled immigration difficulties are taking a toll on Europe’s scaleups, and we are in bad need of more openness in terms of talent acquisition – Rasmus Ekholm startup visas being great initiatives towards solving this problem.” Slush & 52 In Partnership with www.thestateofeuropeantech.com