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Euronews
13-06-2025
- Business
- Euronews
Europe top tech hubs: Paris tops London as Kyiv emerges as rising star
This year's Global Tech Ecosystem Index has crowned Paris as the top tech hub on the continent. The report analysed tech talent, innovation and investment in 288 cities and 69 countries. The French capital also placed fourth in the global ranking, while London ranked 6th. Cambridge, Munich, Stockholm and Grenoble were the only other European cities to make it to the global top 20. Analysts say the UK has been attracting fewer funds in recent years. Its startups raised just slightly more than €19 billion in 2024, reportedly the lowest amount since 2020. Nonetheless, the UK remains a driving force of Europe's tech scene. According to the report, Cambridge has the highest concentration of tech talent in Europe, with an enterprise value of over €162 billion, with a population of just around 150,000 people. Density leaders are "ecosystems that outperform relative to their population size, showing exceptional innovation output per capita." "These hubs are marked by high startup activity, research intensity, and strong university linkages, proving that world-class ecosystems can emerge anywhere", says the report. The report also ranks the top rising stars in Europe, depending on growth in enterprise value and unicorns, which are privately-owned startups valued at over $1 billion, all of that adjusted to local GDP per capita and cost of living. Lagos in Nigeria is on top of this list globally, having created five unicorns and grown its ecosystem value by more than 11 times since 2017, despite being a smaller economy. In Europe, the top rising star is Kyiv, followed by Vilnius, Zagreb, Prague, Warsaw and Athens. Experts say Ukraine's tech hub is booming, with tech professionals growing from an estimated 75,000 in 2014 to over 300,000 in 2023. The Ukrainian capital is home to over 1,000 tech firms, including Ajax Systems and Grammarly. A few months ago, the World Economic Forum chose Kyiv to open its new GovTech centre, to exchange best GovTech practices and innovative solutions. European leaders are voicing alarm over the military attacks launched overnight between Israel and Iran and calling for immediate de-escalation to avoid an all-out war that could spiral across the Middle East and beyond. British Prime Minister Keir Starmer was one of the first heads of government to react, urging "all parties to step back and reduce tensions urgently". "Escalation serves no one in the region. Stability in the Middle East must be the priority and we are engaging partners to de-escalate," Starmer said on social media. "Now is the time for restraint, calm and a return to diplomacy." His Dutch countepart, Dick Schoof, issued a similar message. "Alarming attacks in the Middle East," Schoof said. "The Netherlands calls on all parties to remain calm and to refrain from further attacks and retaliation. In the interest of stability in the region, immediate de-escalation is necessary." German Chancellor Friedrich Merz convened his security cabinet after speaking by phone with Israeli Prime Minister Benjamin Netanyahu, who informed him about the objectives behind the military operation. The Iranian nuclear program "violates the provisions of the Nuclear Non-Proliferation Treaty and poses a serious threat to the entire region, especially to the State of Israel," Merz said in a statement as he warned against regional instability. Merz cited the recent conclusion by the International Atomic Energy Agency (IAEA) that found Iran was not complying with its nuclear obligations for the first time in 20 years. Germany stands ready "to exert influence on the parties to the conflict using all diplomatic means at our disposal. The goal must remain to prevent Iran from developing nuclear weapons," the chancellor added. French President Emmanuel Macron also gathered his defence and security team to assess the escalation of hostilities and implement "all necessary steps" to protect French nationals, diplomats and military officials deployed across the region. "Peace and security for all in the region must remain our guiding principle," Macron said. As part of his diplomatic outreach, Macron spoke with US President Donald Trump, with whom he is believed to be in regular contact, as well as with Merz, Starmer and the leaders from Saudi Arabia, Qatar, the United Arab Emirates (UAE) and Jordan. Turkish President Recep Tayyip Erdoğan was highly critical of Israel, denouncing the military strikes as a "clear provocation that disregards international law". "The Netanyahu administration is trying to drag our region and the entire world into disaster with its reckless, aggressive and lawless actions," Erdoğan wrote in Turkish. "The international community must put an end to Israeli banditry that targets global and regional stability," he went on. "The attacks of Netanyahu and his massacre network, which are setting our entire region on fire, must be prevented." In Brussels, the leaders of the European Union institutions also weighed in on the "deeply alarming" chain of events. "Europe urges all parties to exercise maximum restraint, de-escalate immediately and refrain from retaliation," Ursula von der Leyen, the president of the European Commission, said in a statement that did not mention Israel or Iran by name. "A diplomatic resolution is now more urgent than ever, for the sake of the region's stability and global security," von der Leyen added. High Representative Kaja Kallas described the situation as "dangerous" and said that "diplomacy remains the best path forward". Earlier on Friday, Kallas spoke with her Israeli counterpart, Gideon Sa'ar, and her team was in touch with Tehran. "We're speaking to both sides and channels are open," her spokesperson said. Asked if the Commission was ready to evacuate its diplomatic presence on the ground, which is considered to be limited in scope, the spokesperson said: "Appropriate measures have been taken to reinforce the security of our staff and to mitigate risks." Other capitals offered their initial reactions through their foreign affairs ministries. "The situation in the Middle East is deeply concerning, and the cycle of military escalation must be brought to an end," said Finland's Elina Valtonen, noting the staff of the Finnish embassy in Tehran was "safe" and continued to operate "normally". Austria's Beate Meinl-Reisinger said her country and its partners should prepare "for all possible scenarios," as Ireland's Simon Harris cautioned that "further escalation would bring a very real risk of regional spillover". "This would be disastrous for all the peoples in the region," Harris said. Meanwhile, the Kremlin's spokesperson said Vladimir Putin was receiving "real-time updates" on the "sharp escalation in tensions". Russia is a close ally of Iran, which is under sanctions for providing military supplies to support the invasion of Ukraine. The renewed conflict between Israel and Iran comes two days before the leaders of the Group of Seven (G7) are set to meet for a two-day summit in Canada. The summit's agenda was intended to focus on Russia's war on Ukraine and the international trade system, but the latest developments are expected to alter that agenda. This story has been updated with more reactions.
DW
07-06-2025
- Business
- DW
How Munich became Europe's tech startup capital – DW – 06/04/2025
Founders flock to Munich, Germany, to access capital, expertise, and networks that can help turn ideas into thriving businesses. It's like navigating a labyrinth — a journey hundreds of young entrepreneurs across Europe embark on each year in search of opportunity, innovation, funding, and success. They're also looking for the country and city that offers the ideal conditions to launch a business. For an increasing number, that journey leads to Isar Valley, named after the river that runs through Munich, and which provided the informal nickname for the Bavarian capital's technology and artificial intelligence (AI) scene, inspired by the Silicon Valley technology hub in California. Munich's Technical University and its entrepreneurship center are essential for startup founders Image: UnternehmerTUM Munich ranks 17th globally in the latest Global Tech Ecosystem Index compiled by Netherlands-based data provider Dealroom. When measured by high-performance, innovation-driven ecosystems with strong per-capita output, Munich rises to 5th place — just behind US tech hubs San Francisco Bay Area, Boston, New York, and Cambridge. From hackathon enthusiast to startup founder Greek entrepreneurs Nikos Tsiamitros and Georgios Pipelidis also chose to launch their startup in Munich, even though Tsiamitros says there wasn't a "personal reason" to move to the capital of the German southern state of Bavaria. "I didn't know anyone here and had never even visited the city," he told DW, but added that he was well aware of the "excellent reputation" of the Technical University of Munich (TUM). Nikos Tsiamitros (left) and Georgios Pipelidis were drawn to Munich because of its excellent startup environment Image: Georgios Pipelidis Tsiamitros arrived from Athens to pursue his master's degree in Munich, while Pipelidis came to TUM via Austria to complete his PhD. "That's where we started working together on navigation software for public transportation," Pipelidis told DW. They joined a hackathon — an event where programmers team up for several days or weeks to develop software, often around the clock — and they won the competition. "From that moment on, we started to believe that our navigation and localization algorithm could become a real startup," said Tsiamitros. Then, in March 2019, they launched their first startup business called Ariadne — derived from the Cretan princess in Greek mythology who gave Theseus a thread to find his way out of the Minotaur's labyrinth. A fitting metaphor for their software, Pipelidis noted with a grin. UnternehmerTUM provides support with substance But having a strong algorithm is one thing. Launching a startup, writing a business plan, and securing capital is another. That's where Munich's startup ecosystem offers a crucial resource — the UnternehmerTUM entrepreneurship center based at TUM. At UnternehmerTUM, the two business founders learned how to start and run a company, Pipelidis said, adding that thanks to that support, Ariadne was generating revenue just a few months after launch. Ariadne's main product has since evolved from a navigation software into an AI-based people-counting and movement analytics tool. Today, it serves airports in Munich, Glasgow, and Los Angeles, as well as the German cities of Leverkusen, Bielefeld, and Regensburg, plus several malls and retailers, including IKEA. Startups like Ariadne also benefit from hands-on mentorship. Barbara Mehner, managing partner of the Xpreneurs incubator at UnternehmerTUM is one of them. "We help early-stage startups enter the market by connecting them with investors, mentors, and potential customers," she told DW. KEWAZO 'liftbot' and the robotic revolution in scaffolding Among the more than 100 tech startups founded annually in Munich is KEWAZO, a company led by Greek founder Eirini Psallida. Eirini Psallida is one of many successful startup founders who have emerged from the Isar Valley tech hub Image: Eirini Psallida KEWAZO's core product is a battery-powered, remote-controlled robotic lifting system called LIFTBOT. This robot facilitates the transport and assembly of scaffolding and other construction materials. "All industries seemed fully automated — except construction," Eirini told DW, explaining the idea behind the company. Psallida named the startup after the Greek word kataskevazo, meaning "to produce." And like Ariadne, this startup was born out of a hackathon at UnternehmerTUM. Today, the company's robotic lift system is in daily use at major industrial and construction sites — from the chemical park of BASF in Ludwigshafen, Germany, to oil refineries in the US. KEWAZO's liftbots are seen on many construction sites Image: Flint Hills Resources "I can't imagine how we would have done it without UnternehmerTUM," Psallida told DW, as the incubator gave them access to hardware, software, legal and business advice. "And we got help securing public funding without giving up any equity," she added. One in four German unicorns founded by foreigners The KEWAZO team includes six founders from four different countries, reflecting the diverse nature of Germany's startup landscape. According to the latest Migrant Founders Monitor compiled by the Friedrich Naumann Foundation and Germany's Startup Association, a significant number of founders in the country have a migration background. "Fourteen percent of startup founders were born abroad," said Vanusch Walk, senior researcher at the Startup Association and lead author of the report. Among the founders of so-called unicorns — startups valued at over a billion dollars — the share is even higher at 23%, he told DW. The survey shows that migrant founders stand out for their "strong entrepreneurial mindset, willingness to take risks, and resilience" — traits that are crucial for startup success. Migrant founders still face higher barriers Despite their strengths, migrant founders also face notable challenges in Germany. "Top of the list is access to networks," said Walk, adding that coping with Germany's infamous bureaucracy is also difficult, as well as gaining access to funding, no matter whether public or private. Germany: More support for migrant entrepreneurs? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Pipelidis from Ariadne experienced this firsthand. One German venture capital firm made its investment conditional on replacing him as CEO with a German national. "They wanted a native speaker as the public face of the company," he recalled. "I understand that customers prefer dealing with someone who speaks fluent German — that's why all our salespeople are native speakers. But replacing me as CEO? That was too much," he said. In the end, Georgios Pipelidis and Nikos Tsiamitros secured support from a Greek VC firm. And despite the setbacks, their enthusiasm for Munich hasn't wavered. At the end of their own Ariadne thread still lies the Bavarian capital. This article was originally written in German.
DW
04-06-2025
- Business
- DW
Isar Valley: How Munich became Europe's startup capital – DW – 06/04/2025
In the Bavarian capital, international talent meets an ecosystem built to help startups succeed. Here, founders gain access to capital, expertise, and networks that can turn ideas into thriving businesses. It's like navigating a labyrinth — a journey hundreds of young entrepreneurs across Europe embark on each year in search of opportunity, innovation, funding, and success. They're also looking for the country and city that offers the ideal conditions to launch a business. For an increasing number, that journey leads to Isar Valley, named after the river that runs through Munich, and which provided the informal nickname for the Bavarian capital's technology and artificial intelligence (AI) scene, inspired by the Silicon Valley technology hub in California. Munich's Technical University and its entrepreneurship center are essential for startup founders Image: UnternehmerTUM Munich ranks 17th globally in the latest Global Tech Ecosystem Index compiled by Netherlands-based data provider Dealroom. When measured by high-performance, innovation-driven ecosystems with strong per-capita output, Munich rises to 5th place — just behind US tech hubs San Francisco Bay Area, Boston, New York, and Cambridge. From hackathon enthusiast to startup founder Greek entrepreneurs Nikos Tsiamitros and Georgios Pipelidis also chose to launch their startup in Munich, even though Tsiamitros says there wasn't a "personal reason" to move to the capital of the German southern state of Bavaria. "I didn't know anyone here and had never even visited the city," he told DW, but added that he was well aware of the "excellent reputation" of the Technical University of Munich (TUM). Nikos Tsiamitros (left) and Georgios Pipelidis were drawn to Munich because of its excellent startup environment Image: Georgios Pipelidis Tsiamitros arrived from Athens to pursue his master's degree in Munich, while Pipelidis came to TUM via Austria to complete his PhD. "That's where we started working together on navigation software for public transportation," Pipelidis told DW. They joined a hackathon — an event where programmers team up for several days or weeks to develop software, often around the clock — and they won the competition. "From that moment on, we started to believe that our navigation and localization algorithm could become a real startup," said Tsiamitros. Then, in March 2019, they launched their first startup business called Ariadne — derived from the Cretan princess in Greek mythology who gave Theseus a thread to find his way out of the Minotaur's labyrinth. A fitting metaphor for their software, Pipelidis noted with a grin. UnternehmerTUM provides support with substance But having a strong algorithm is one thing. Launching a startup, writing a business plan, and securing capital is another. That's where Munich's startup ecosystem offers a crucial resource — the UnternehmerTUM entrepreneurship center based at TUM. At UnternehmerTUM, the two business founders learned how to start and run a company, Pipelidis said, adding that thanks to that support, Ariadne was generating revenue just a few months after launch. Ariadne's main product has since evolved from a navigation software into an AI-based people-counting and movement analytics tool. Today, it serves airports in Munich, Glasgow, and Los Angeles, as well as the German cities of Leverkusen, Bielefeld, and Regensburg, plus several malls and retailers, including IKEA. Startups like Ariadne also benefit from hands-on mentorship. Barbara Mehner, managing partner of the Xpreneurs incubator at UnternehmerTUM is one of them. "We help early-stage startups enter the market by connecting them with investors, mentors, and potential customers," she told DW. KEWAZO 'liftbot' and the robotic revolution in scaffolding Among the more than 100 tech startups founded annually in Munich is KEWAZO, a company led by Greek founder Eirini Psallida. Eirini Psallida is one of many successful startup founders who have emerged from the Isar Valley tech hub Image: Eirini Psallida KEWAZO's core product is a battery-powered, remote-controlled robotic lifting system called LIFTBOT. This robot facilitates the transport and assembly of scaffolding and other construction materials. "All industries seemed fully automated — except construction," Eirini told DW, explaining the idea behind the company. Psallida named the startup after the Greek word kataskevazo, meaning "to produce." And like Ariadne, this startup was born out of a hackathon at UnternehmerTUM. Today, the company's robotic lift system is in daily use at major industrial and construction sites — from the chemical park of BASF in Ludwigshafen, Germany, to oil refineries in the US. KEWAZO's liftbots are seen on many construction sites, like in Dublin, where they helped rebuild the Presbyterian Church Image: Eirini Psallida "I can't imagine how we would have done it without UnternehmerTUM," Psallida told DW, as the incubator gave them access to hardware, software, legal and business advice. "And we got help securing public funding without giving up any equity," she added. One in four German unicorns founded by foreigners The KEWAZO team includes six founders from four different countries, reflecting the diverse nature of Germany's startup landscape. According to the latest Migrant Founders Monitor compiled by the Friedrich Naumann Foundation and Germany's Startup Association, a significant number of founders in the country have a migration background. "Fourteen percent of startup founders were born abroad," says Vanush Walk, senior researcher at the Startup Association and lead author of the report. Among the founders of so-called unicorns — startups valued at over a billion dollars — the share is even higher at 23%, he told DW. The survey shows that migrant founders stand out for their "strong entrepreneurial mindset, willingness to take risks, and resilience" — traits that are crucial for startup success. Migrant founders face higher barriers still Despite their strengths, migrant founders also face notable challenges in Germany. "Top of the list is access to networks," said Walk, adding that coping with Germany's infamous bureaucracy is also difficult, as well as gaining access to funding, no matter whether public or private. Germany: More support for migrant entrepreneurs? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Georgios Pipelidis from Ariadne experienced this firsthand. One German venture capital firm made its investment conditional on replacing him as CEO with a German national. "They wanted a native speaker as the public face of the company," he recalled. "I understand that customers prefer dealing with someone who speaks fluent German — that's why all our salespeople are native speakers. But replacing me as CEO? That was too much," he said. In the end, Georgios Pipelidis and Nikos Tsiamitros secured support from a Greek VC firm. And despite the setbacks, their enthusiasm for Munich hasn't wavered. At the end of their own Ariadne thread still lies the Bavarian capital. This article was originally written in German.
Business Insider
25-05-2025
- Business
- Business Insider
Top 7 fastest-growing tech cities in Sub-Saharan Africa, 2025
This shift is driven by regional demand for digital solutions, the rise of tech hubs and incubators in African tech cities, investment in digital infrastructure, and innovative entrepreneurship The 2025 Global Tech Ecosystem Index by spotlights 7 Sub-Saharan African cities as "Rising Stars" among the world's fastest-growing tech ecosystems. These cities stand out for their innovative prowess and digital advancements, tailored to meet local and regional demands in their various host nations. Emerging from a vast region of 48 countries, their success demonstrates global recognition and stakeholder trust in their business and entrepreneurial environment. Based on key metrics like venture capital inflows, startup ecosystem value, unicorn creation, and research-university partnerships, the rankings position these 7 cities as leading innovation hubs for startups and business ventures, highlighting the region's robust growth prospects and dynamic business practices across various sectors. Notable cities driving this transformation include Lagos, Nigeria, recognized as the world's fastest-growing tech ecosystem, with a thriving startup scene and significant investment inflows. dealb Nairobi, Kenya, is another innovation and entrepreneurship hub, with a strong focus on fintech, healthtech, and e-commerce. Cape Town, South Africa, also boasts a thriving tech ecosystem, emphasizing fintech, cybersecurity, and artificial intelligence. Additionally, Johannesburg, South Africa, is a major tech hub, with a diverse range of startups and innovation centers. Kampala, Uganda, is also emerging as a key player, with a growing startup scene and increasing investment in digital innovation, cementing these cities' roles as key players in Africa's rapidly evolving technological landscape. Top 7 fastest-growing tech cities in SSA Here's a spotlight on Sub-Saharan Africa's top 7 fastest-growing tech cities in 2025 and the companies driving their growth: Rank Country Tech Companies Sector 1 Lagos, Nigeria Flutterwave , Jumia, OPay, Moniepoint, Paystack, Andela, Paga, Konga, TeamApt, Interswitch, Paymob and Okra. Fintech and E-commerce 2 Johannesburg, South Africa TymeBank, VALR, Ozow (formerly i-Pay), Pineapple, Enko Education,HyperionDev, Showmax, Liquid Telecom Fintech, Entertainment and Telecoms 3 Kampala, Uganda Ensibuuko Technologies, Billbrain Technologies, Jentroy Uganda, KaCyber Technologies, RideOk and SafeBod Fintech, IT services & Consulting, 4 Dakar, Senegal Wave, InTouch, Yobante Express, Sen'Espaces and ICT4D Fintech, Logistics and Delivery 5 Accra, Ghana Nsano, mPharma, ExpressPay, Hubtel and Youper Fintech and E-commerce 6 Nairobi, Kenya Safaricom, M-Pesa, Ushahidi, Kilimall, BitPesa, Spiro and Twiga cHives Fintech, Telecoms and E-commerce 7 Cape Town, South Africa Yoco, Aerobotics, Global Kinetic, Rock8, Luno and OobaPay Fintech and Robotics The 2025 Global Tech Ecosystem Index reflects Africa's accelerating momentum in the global innovation space. From Lagos to Cape Town, it's clear that countries within the sub-saharan are forging their own path, driven by digital ingenuity, entrepreneurial grit, and the energy of a young, determined population. Lagos, ranked as the fastest-growing tech ecosystem globally, exemplifies this shift. Despite economic challenges, Nigeria's tech sector thrives, producing industry leaders like Flutterwave, Interswitch, Jumia, Moniepoint, and OPay, valued at over $1 billion each. Other African cities are also making significant strides. Nairobi excels in fintech and clean energy, Cape Town leads in AI, biotech, and health tech, and Kigali, Kampala, and Dakar are gaining recognition for their inclusive digital ecosystems. These hubs are becoming convergence points for investors, developers, academia, and policymakers, fostering sustainable tech innovation.
