May 20, 2021

Startup cities: Top 10 entrepreneurial ecosystems in EMEA

Kate Birch
9 min
Dublin
VCinvestment
ecosystem
Startups
10
Dublin

Strengths AI * Fintech * Software Enterprise

Unicorns Messaging platform Intercom ($1.3bn), HR tech firm Workhuman ($1.2bn)

Business Chief says... Dubbed the Silicon Valley of Europe, Dublin has a thriving tech community, supportive business ecosystem and a talent-rich pool of techies from Europe. Many tech giants have European HQ here due to low corporation tax (Netflix, Google, Facebook, Microsoft, Slack) and so support for startups via innovation schemes and funding is prolific. Support also comes from government-backed Enterprise Ireland and a strong and growing VC and angel investor community, plus some of Europe’s best accelerator and incubator programmes (NRDC, Dublin Business Innovation Centre). Top-tier US VCs like Sequoia invest heavily in Irish firms.

The city is home to 2,200 startups and is known to have the highest level of capital investment in software R&D, with many successful startups in the enterprise software sector, including unicorn Intercom, which has doubled revenues over the past two years, and Fenergo, which is said to be eyeing a $1.5bn valuation. Startups to watch include social enterprise app KeepAppy.

 

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