ON IN THE CHAOS
BY THE NUMBERS
INC. 5000 EUROPE
companies with the
2017,” Pleeth says. “We’re going to see
a number of U. K. startups explode.”
In part, the optimism comes from a
money faucet that is still running. The
euro zone (under the European Central
Bank), Sweden, Denmark, and Finland all
have central banks with negative interest
rates, or base-rate interest set at zero.
With the U. S. Federal Reserve on course
to hike its rates, this makes capital easier
and cheaper to get hold of in Europe.
Second, the Brexit vote may be bad for
the U.K., but it’s a potential gold rush for
everyone else. After all, in 2015 about 40
percent of tech startup founders in Lon-
don were from outside the U.K., according
to VC frm Balderton Capital. If Britain’s
departure from the E.U. makes it difcult
for London to get immigrant talent, then
places like Lisbon, Berlin, and Dublin are
going to look a lot more attractive.
“If you’re a Czech CEO who was happy
to move to London a few years ago, there
is nothing to stop you from moving to
Amsterdam now,” says Suranga Chandra-tillake, a general partner at Balderton.
The French seem particularly keen to
poach from across the Channel. Axelle
Lemaire, France’s minister for digital
afairs, has mounted a nonstop worldwide
tour of tech conferences like Web Summit—which attracted 50,000 people to
5• FRANCE, THE NE W OASIS Axelle Lemaire, France’s minister for digital afairs, is campaigning for entrepreneurs to abandon London in favor of Paris.
(No. 283), Aprotecnic Group
(No. 899), and Brutal Media
(No. 3,199) helped Spain
earn the top spot on the Inc. 5000
Europe list. Below: Antoni Gaudí’s
La Pedrera, in Barcelona.
NUMBER OF COMPANIES PER COUN TRY
United Kingdom 452
Czech Republic 98
Russian Federation 88
• SCANDINAVIAN SPEED
Sweden’s Cabonline Technologies (No. 6),
Star Stable Entertainment (No. 8), and FEO
Media (No. 9) are outpacing other private
companies in Europe. Above: Gamla Stan,
the old city of Stockholm.
THE CASH SPIGOT
With negative interest rates under the euro zone’s
European Central Bank—based in Frankfurt, Germany—
entrepreneurs have access to cheap capital.
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