10 things you didn’t know about Europe’s tech scene

The first thing to understand about the European tech scene is that there is no European tech scene. The 'European' scene is a collection of startup hubs that have sprung up in the capitals of European countries and that are more or less isolated - most have very limited interaction with other startup hubs.

So while Europe might be a single market, it’s definitely not a single tech scene. That fact makes it difficult to feel the pulse of the European tech. But if you take a close look, you’ll quickly notice that there is interesting stuff happening in Europe – to the point that we’re spotting young EUnicorns, the European answer to Silicon Valley’s unicorns!

In order to get a good overview of the scene, Sirris recently looked at all of the European tech companies that have raised at least $1 million in 2016. The data (you can view it here), which is comprised of more than 1,100 transactions from 30 countries, reveals 10 surprising insights:

1. Paris, not Berlin, is the challenger to London post-Brexit
2. The curious case of tiny Sweden
3. It’s not always a capital city that’s at the epicenter of a scaleup ecosystem
4. FinTech is hot, but blockchain is top of the hype cycle
5. Universities are irrelevant in the innovation landscape
6. You don’t need to attend an accelerator program to scale
7. The most active 2016 venture investor in Europe is the French government
8. The European scaleup ecosystem is business-to-business oriented
9. The middleman is dead; long live the middleman
10. You need to have been founded in 2012 in order to raise a Series A this year in Europe

In an article that has been published earlier on Venture Beat, the second most popular tech-blog from Silicon Valley, and recently also in DataNews Magazine, we elaborate on these 10 insights.

(Photo above : ©Venture Beat)