Whilst covid is attempting to hit the UK’s economy and Brexit still looms, Osmii explores the consistent growth in the European tech industry and the opportunities for vast employment across the channel.
It’s no secret that the European tech sector has been growing exponentially, with an over 1,000% increase in four years, outpacing the rest of the European economy’s growth fivefold. The fastest employment growth is in France, Ireland and Portugal where almost half of the sought after talent are Software Engineers.
In the months leading up to covid, the European startup and tech sector appeared to be in better stead than ever. The three big hubs (London, Berlin, and Paris) have led the way in European technology so far and are home to many of the tech sector’s biggest names, including companies such as TransferWise, Delivery Hero and Klarna.
However, it’s not just the sheer number of successful businesses originating from smaller European tech hubs that’s increasing. More relaxed regulation, forward business-thinking governance and flexible travel make it much easier for small businesses to establish offices in larger cities. This allows any business, whether founded in Sweden, Slovakia, or Spain, to gain access to vast talent pools and established customer bases. With the flexible international borders of the European Union, Europe’s tech talent has the ability to move wherever the innovation is.
The number of world-leading companies that are being founded in cities such as Stockholm, Madrid and Amsterdam means that for investors wanting higher returns, searching beyond the traditional hubs is a must. There is an increasing likelihood that Europe’s next $10 billion tech company will be founded outside of the traditional three big hubs.
In employment terms, with Europe home to at least 30 different hubs, the continent promises employment of 50,000 or more professional developers - that’s more developers in total than employed in the US. In the past three months alone, Osmii has recruited for around half of our tech roles in European countries outside of the UK. Whilst the majority of roles are still in the UK, it’s clear that Europe is pushing through the covid recession and pioneering as a driving force for tech.
More investment and growth means a need for more talent, with Software Engineers being the top sought after profession at the moment. Currently, the most required skills are full-stack, backend and frontend development, as well as the most common development languages: HTML; CSS; SQL; Javascript.
All eyes are on Europe for the next move in tech expansion.
That’s not to say its doom and gloom for London, who is still a powerhouse of the industry even with other European regions showing strength. Sadiq Khan, Mayor of London, recently commissioned Digital Catapult to advise on tech and innovation trends for the future. From AR and AI to robotics and Blockchain, London will remain one of the global centres for tech. According to Start Us Insight’s global analysis of electric vehicle startups, the UK ranks second globally and London is one of the biggest global hubs for developing electric vehicle technologies.
Looking for a change? You can find out more about our international roles here: www.osmii.com/jobs
Digital Catapult - London: A Global Leader in Advanced Digital Technologies https://www.digicatapult.org.uk/news-and-insights/publication/london-a-global-leader-in-advanced-digital-technologies
Start Us Insights - Electric Vehicles: A Global Startup Activity Analysis https://www.startus-insights.com/innovators-guide/electric-vehicles-a-global-startup-activity-analysis/
Sifted - European tech startups break records with $34bn in venture capital funding this year https://sifted.eu/articles/european-tech-atomico-startups/
Dataconomy - What is Driving Europe’s Tech Economy? https://dataconomy.com/2019/01/what-is-driving-europes-tech-economy/
atomico - 02.1 5 Years Of SoET https://2019.stateofeuropeantech.com/chapter/state-european-tech-2019/article/5-years-soet/
Statista - Number of unicorns worldwide as of January 2020, by country https://www.statista.com/statistics/1096928/number-of-global-unicorns-by-country/
