Munich attracts most venture capital in tech, EU atlas reveals

EU-best-ICT-hubsThumbA new EU study lists Europe’s top ICT hubs in different categories, represented on an Atlas of EU areas where digital technologies thrive, and details what drives this success. The report reveals that Munich is the number one EU city with regard to venture capital activities in the technology sector, followed by Paris and London. Germany also ranks first in the EU for research and patenting activities.

According to the report, most of Europe’s ICT activity is concentrated in 34 regions across 12 countries. Key causes of a high ranking on the list included relatively easier access to top universities and research centres, as well as greater funding opportunities.

The report looked at all EU regions (1303 NUTS3 regions) in terms of ICT activity and assigned scores according to its relative weight. The report says 14% of the regions scored above 20 points. Those who scored between 41 and 100 totaled 34.

The official post says the report analysed three elements (business activity, R&D and innovation in the ICT sector) on the basis of their intensity (e.g. business turnover, turnover growth, number of employees), their internationalisation (e.g. how many international partners businesses/research centres/universities have) and networking (what is the role of each region in networks: which of them are hubs and connect directly to many partners, which of them have links that only allow few exchanges).

The findings relied on a Composite Indicator bringing together 42 Indicators to evaluate ICT activities, including university rankings, citation indexes, information on European research projects’ collaborations, how many global top R&D investor companies in ICTs are present in each region, venture capital funding or employment data and companies’ turn over information.

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