Euronews Business takes a closer look at the best European cities for startups.
advertisementA new report from UK-based training company Knowledge Academy has named Paris the best city for startups, closely followed by Madrid and Barcelona.
The various cities in this ranking received scores on a scale of 0 to 10, judged by the number of office spaces available, rental prices, proximity to top universities, internet speed (Mbps), and more. However, the report does not take into account regulatory background, bureaucracy or taxes.
Are France and Spain the best places for startups?
France fared very well in this ranking, with two cities in the top five. Meanwhile, Spain occupied the top three spots in her two cities. London ranked 4th.
The report says Paris has one of the best university and office environments in Europe, as well as “government support and a well-developed startup ecosystem.”
The country's third-largest city and university hub, Lyon was ranked number 5 as the best place to start a business thanks to Europe's fastest internet speeds.
Madrid, the capital of Spain, received a high ranking due to its high speed internet and number of available offices. Another Spanish city in the top three, Barcelona has built a reputation as southern Europe's largest technology hub over the past decade.
London is a financial center with other advantages, having the highest concentration of business incubators, as well as the highest number of European top 250 universities and (if you can afford it) an abundance of office space. I'm proud.
According to the report, the UK capital has the highest number of offices and the highest rents, Lyon has the fastest internet, Paris has the most accessible public transport and the UK has the highest average university score. It's Manchester.
Choosing the right location is essential, and “surroundings must be considered as a key factor in success,” says Knowledge Academy's Talveer Sandhu.
“Having a headquarters or collaborative work space for your team is essential to building camaraderie, teamwork, and success. Broadband speed and reliability is another important factor in running a business. Yes, monitoring your website and social media is very important in the early stages of building your business and brand awareness.”
