Europe has shown to be a leading technology ecosystem in the world. This fact is strongly supported by a huge technology workforce in this region. According to the report “The State of European Technology”, 2017 experienced a growth in labor force by 0.5% compared to 2016. This figure is 3 times faster than overall European employment in all industries. The report has included 6 out of 10 countries that have the fastest growing technology worker populations in Europe, which are Ireland, Netherlands, Germany, Switzerland, France and UK. Impressively, 1 out of 5 graduates of MBA programs from European leading business school enter technology industry.
In addition, Europe has become a dominant technology ecosystem thanks to massive funding. In 2017, total funding into European technology industry was $28.46B, which increased by 52.4% compared to the number of 2016. This sector is receiving huge investment from all over the world. Typically, in 2017, Asian investors and venture capital firms made $1.8B investment in European technology industry. Top verticals by funding are fintech and biotech/healthtech, which received $5.35B and $3.53B respectively. In the report, it can be seen that the fintech ecosystem outnumbers others with 7 out of 26, which is followed by 6 biotech and healthtech ecosystems.
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