Paris named as Europe's leading tech ecosystem, beating London
STOCKHOLM, May 21 (Reuters) - Paris has been named as the new European tech champion, beating London for the first time on some metrics, according to data from Dealroom, which collects information on startups and venture capital firms.
Between 2017 and 2024, the combined enterprise value of Paris startups increased 5.3 times, compared with 4.2 times for London, Dealroom said, after assessing dozens of metrics that contribute to a successful tech ecosystem.
Although London attracted bigger funding rounds, the actual valuations of the companies have not increased dramatically, while the funding rounds secured by Paris-based companies have had a bigger impact on valuations, it said.
French tech companies, including Mistral AI and Poolside, raised $7.8 billion last year, less than London's $11.3 billion.
Europe has been falling behind other regions in tech innovations, with only some countries trying to boost tech investments.
While the market capitalisation of global tech, media and telecom companies rose from $7 trillion in 2000 to $34 trillion last year, Europe's share dropped from 30% to just 7%, a McKinsey report said on Wednesday.
If Europe had maintained its share, it would have generated an additional $8 trillion in market value, it said.
Paris is also the only European city on Dealroom's top five global champions list, which is dominated by U.S. cities.
It comes a month ahead of Paris hosting one of the largest global tech conferences, VivaTech, featuring top executives from companies such as Nvidia (NVDA.O), opens new tab, Alibaba (9988.HK), opens new tab, Meta (META.O), opens new tab, OpenAI, Mistral, Anthropic and Cohere. Last year's conference was attended by more than 165,000 people.
"It's not just about the competitiveness of Paris on the AI scene today, it's also about what will happen next and how we can keep on attracting the talent, investment, and the tech activities," Francois Bitouzet, managing director of VivaTech, told Reuters.
Since coming to power in 2017, French President Emmanuel Macron has talked about wanting France to be a world leader in AI and 'deep-tech', inviting several firms to invest in the country and pushing for creation of startup incubator Station F.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
an hour ago
- The Sun
Hated Man Utd owners The Glazers cost Red Devils £1.2BILLION as club release latest finances
THE GLAZERS have cost Manchester United £1.2billion in their nightmare 20-year reign. When the controversial Americans purchased the club in June 2005, they paid a whopping £790m. 5 5 5 But the deal was funded by borrowed cash and it dumped £604m in debt onto United, who had just £50m borrowed previously. As the Glazers reach the two decade mark in charge, over £1bn has been lost in debt interest, debt repayments, dividends and fees to the family. BBC claim £815m has gone towards debt interest repayments, £166m in dividends to shareholders and £10m in fees to Glazer family companies. And while things continue to get worse on the pitch, finally, things are at least looking up financially. Brutal cost-cutting introduced by £1.3bn part owner Sir Jim Ratcliffe are beginning to pay dividends - even if 450 staff jobs were wiped out along with free lunches amidst a host of other spending slashes. In the club's accounts for the third quarter of this year, payments to employees by comparison to 12 months ago were down a huge £20m to £71.2m – a drop of almost 22 per cent. Going out of the 2023-24 Champions League and into the Europa League actually HELPED the figures in not paying extra player bonus costs as well as non-playing staff departures. Total operating expenses for the quarter were £162.1m, a decrease of £41.6m, or 20.4 per cent, over the prior year quarter. And operating profit was at £700,000, compared to an operating loss of £66.2m this time last year. Ratcliffe and his recently downgraded Ineos head honcho Sir Dave Brailsford can point to their financial re-structuring having a near-instant impact. But chief executive Omar Berrada pointed the finger at the side that finished a shocking 15th in the table – and will have no European football at all in the forthcoming campaign after losing to Tottenham in the last chance saloon Europa League final. He declared: "We were proud to reach the final of the Europa League but ultimately we were disappointed to finish as runner-up in Bilbao. 'We had a difficult season in the Premier League which we all know fell below our standards and we have a clear expectation of improvement next season.' Berrada and the rest of the Old Trafford hierarchy are working hard to back boss Ruben Amorim in this summer's transfer market having already forked out £62.5m – in what will be three instalments – for Matheus Cunha from Wolves. Despite Ratcliffe warning earlier this year that those sweeping cuts were necessary to stop the club going bust by last Christmas – and concerns over staying within profit and sustainability rules - a £55m bid for Bryan Mbuemo was registered this week. Brentford want at least £60m for the wide attacker and will almost certainly get their money although United, finances improving or not, will also have to sell. Alejandro Garnacho has been told he's going and is valued at £60m while Amorim wants to dump Jadon Sancho, Antony and Marcus Rashford along with Casemiro and Tyrell Malacia. Yet as United juggle their funds to aid the rebuild, the club point to improvements off the pitch. Plans for a new £200bn stadium are progressing, Berrada stressing: 'We remain focused on infrastructure, with the redevelopment of our Carrington Training Complex continuing and on track. 'It will be the heart of our club, providing world class facilities for all our teams and our staff. 'We have also announced our aspiration to pursue a new 100,000-seater stadium, sitting at the heart of the regeneration of the Old Trafford area, which would be a catalyst for growth and investment in our local community. 'We are continuing to work with all the relevant stakeholders, including central Government, to support their vision for growth.' Even the dropping value of the US dollar is working in United's favour. The club's American borrowings still stand at $650m – the same as last year at the same time but due to the USD/GBP exchange rate in GBP United now owe £500.9m compared to £511.3m. United are happy with what they say are 'strong revenues which increased by 17.4 per cent driven by additional matchday and broadcast money by thanks to going all the way to Bilbao as opposed to dropping out of last season's Champions League at the group stage." 5 5
Reuters
an hour ago
- Reuters
Exness Launches Bold New Global Campaign, Putting Traders at the Heart of the Story
LIMASSOL, Cyprus, June 6, 2025 (EZ Newswire) -- Exness, opens new tab, one of the world's largest retail brokers, has launched its latest global brand campaign, expanding on the impact of last year's 'Born to Trade.' The new campaign dives deeper into the mindset of the modern trader—capturing the drive, focus, and emotional highs and lows that come with every trading session. At the campaign's core is a high-production, visually striking concept that brings to life what trading really feels like—from the anticipation before entering a position to the thrill of making the right call. It's a fresh, high-impact take on what drives traders and what keeps them coming back. Watch the campaign video here: opens new tab Alfonso Cardalda, Exness' chief marketing officer, commented, 'Traders don't just react to the markets, they live them. We understand that, for them, trading is more than a profession; it's a calling. This campaign is built to speak directly to traders' hearts and minds. It captures the adrenaline, drive, and mindset that define real traders while reinforcing what sets us apart: reliable performance, superior products, and a deep understanding of the trader's world. At Exness, we know exactly what traders feel, think, and need, and with this campaign, we are connecting with our traders on a deeper level. That's why we continue to be the broker of choice for over a million active traders worldwide.' Driven by the insight that every trader sees themselves as part of a special breed—ambitious, bold, independent—the campaign reinforces Exness' role as the broker for those who are Born to Trade. It highlights two foundational pillars of the brand: From sharp visuals to immersive storytelling, everything is designed to connect with traders on a deeper level. It's a cinematic tribute to every trader's journey–from moments of doubt to decisive actions. With a global rollout across various channels and platforms, the campaign cements Exness' position as the trusted broker that truly understands traders and gives them the edge they seek. Note About Exness Founded in 2008, Exness is a global multi-asset broker on a mission to reshape the online trading industry. Since its inception, the company has focused on creating the ultimate trading experience through large-scale investment in technology and infrastructure. Exness' fresh approach resonates with traders worldwide, growing the company into one of the most prominent retail brokers in the sector. For more information, visit Media Contact Eleonora Oikonomidou+357 25 ### SOURCE: Exness Copyright 2025 EZ Newswire See release on EZ Newswire
Telegraph
an hour ago
- Telegraph
Trump adds Ireland to trade ‘blacklist'
Donald Trump has added Ireland to the White House's official blacklist of countries for the nation's trade surplus with the US. Ireland joins fellow new entrant Switzerland in the US treasury's bad books, on a list that includes regular US targets including China, Japan, Germany, Vietnam and South Korea. Appearing on the watchlist puts Ireland, whose dominant industries are pharmaceuticals and technology, at the front of the queue of countries likely to attract Mr Trump's ire. If escalated, it can open the door to tariffs and other sanctions. The US president has previously singled out Ireland as a country whose trade surplus hurts the US economy. 'We do have a massive deficit with Ireland, because Ireland was very smart. They took our pharmaceutical companies away,' he told Micheál Martin, the Irish Taoiseach, in the Oval Office in March. He even considered putting a 200pc tariff on US pharmaceutical imports from Ireland. 'We don't want to do anything to hurt Ireland. We do want fairness,' he said. Ireland's goods exports to the US surged by 49pc in the first quarter of 2025 from the same period a year earlier, the country's statistics office reported this week, as exporters scrambled to get shipments off before any of Mr Trump's tariffs kicked in. The export surge fuelled a 9.7pc bounce in Ireland's GDP in the first quarter. Irish exports are under dire threat from Mr Trump's potential tariff of 50pc on goods imports from the EU. Dublin and other European capitals are now sweating on Brussels' negotiations with Washington to avoid this levy hitting the bloc in early July. On Friday, the German central bank warned that if the two sides did not strike a deal, Europe's biggest economy would remain mired in recession until 2027. German data issued on Friday showed a 1.4pc drop in factory output in April and a 10.3pc slump in German exports to the US from a month earlier, as pre-tariff, front-end loading of trans-Atlantic shipments came to a halt. The two sides' trade negotiators met in Paris this week. Maros Sefcovic, the EU trade commissioner, said afterwards that talks were 'advancing in the right direction at pace', while Jamieson Greer, the US trade representative, declared himself 'pleased that negotiations are advancing quickly'. They have slightly more than four weeks until the expiry of a 90-day pause on Mr Trump's tariffs on July 9. The president has frequently expressed hostility towards the EU over its trade policies, but was peaceable towards a visiting Friedrich Merz, the German chancellor, at a meeting in the Oval Office on Thursday. 'We'll end up hopefully with a trade deal,' he told reporters. 'I'm OK with the tariffs, or we make a deal with the trade.' The US treasury's report on Friday – a twice-yearly 'Monitoring List of major trading partners whose currency practices and macroeconomic policies merit close attention' – had some advice for both Germany and Ireland. Dublin was urged to focus on boosting activity in its domestic economy', to help Ireland 'address its over-reliance' on export-focused multinational companies. Berlin was told that Germany's unbalanced trade with the US was caused by German businesses and consumers failing to open their wallets and spend their savings.
