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Latest News / Tech entrepreneurs motivated by access to talent over access to finance

 

A new report has revealed that entrepreneurs in the technology sector are motivated more by a skilled labour market and supportive eco-system than access to finance when choosing where to start a business.

The second annual ‘The State of European Tech’ report, published by Slush, the world’s largest entrepreneurship conference organisers, and technology firm Atomico, revealed that entrepreneurs prioritise situating their start-up in a region in which they have access to talent and a quality eco-system, more than to access to capital. 71% of entrepreneurs highlighted access to talent as a key motivation for choosing a location to start a business, followed closely by quality of ecosystem at 69%. Access to capital in a region was highlighted as important by only 44% of founders.

The UK was named the No.1 spot in Europe for technology talent, with one in four people entering the technology sector in Europe moving to the UK to do so. This was double the second-best spot for talent, Germany, which represents 12% of technology migration talent.

Technology is creating jobs faster than any other sector in Europe, with the average increase in sector employment 2.1% since 2015. Ireland led the way, with an incredible 5.5% increase in technology sector jobs, followed by Germany, showing and increase of 3.3%. Shell LiveWIRE countries UK and the Netherlands followed, each representing a 3% increase in technology sector employment.

The report also highlights the impact the development and growth of entrepreneurial eco-systems have made within the technology sector, improving the confidence of many individuals to start their own business. The introduction comments that many of those in developer roles, ‘are increasingly engaging with entrepreneurs or becoming entrepreneurs themselves’. With 4.7m active developers in Europe, that demonstrates a huge potential for future entrepreneurial activity.

You can download the full report here.

 


 

Tech entrepreneurs motivated by access to talent over access to finance
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