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Europe top tech hubs: Paris tops London as Kyiv emerges as rising star
This year's Global Tech Ecosystem Index has crowned Paris as the top tech hub on the continent.
The report analysed tech talent, innovation and investment in 288 cities and 69 countries.
The French capital also placed fourth in the global ranking, while London ranked 6th.
Cambridge, Munich, Stockholm and Grenoble were the only other European cities to make it to the global top 20.
Analysts say the UK has been attracting fewer funds in recent years. Its startups raised just slightly more than €19 billion in 2024, reportedly the lowest amount since 2020.
Nonetheless, the UK remains a driving force of Europe's tech scene.
According to the report, Cambridge has the highest concentration of tech talent in Europe, with an enterprise value of over €162 billion, with a population of just around 150,000 people.
Density leaders are "ecosystems that outperform relative to their population size, showing exceptional innovation output per capita."
"These hubs are marked by high startup activity, research intensity, and strong university linkages, proving that world-class ecosystems can emerge anywhere", says the report.
The report also ranks the top rising stars in Europe, depending on growth in enterprise value and unicorns, which are privately-owned startups valued at over $1 billion, all of that adjusted to local GDP per capita and cost of living.
Lagos in Nigeria is on top of this list globally, having created five unicorns and grown its ecosystem value by more than 11 times since 2017, despite being a smaller economy.
In Europe, the top rising star is Kyiv, followed by Vilnius, Zagreb, Prague, Warsaw and Athens.
Experts say Ukraine's tech hub is booming, with tech professionals growing from an estimated 75,000 in 2014 to over 300,000 in 2023.
The Ukrainian capital is home to over 1,000 tech firms, including Ajax Systems and Grammarly.
A few months ago, the World Economic Forum chose Kyiv to open its new GovTech centre, to exchange best GovTech practices and innovative solutions.
European leaders are voicing alarm over the military attacks launched overnight between Israel and Iran and calling for immediate de-escalation to avoid an all-out war that could spiral across the Middle East and beyond.
British Prime Minister Keir Starmer was one of the first heads of government to react, urging "all parties to step back and reduce tensions urgently".
"Escalation serves no one in the region. Stability in the Middle East must be the priority and we are engaging partners to de-escalate," Starmer said on social media. "Now is the time for restraint, calm and a return to diplomacy."
His Dutch countepart, Dick Schoof, issued a similar message.
"Alarming attacks in the Middle East," Schoof said. "The Netherlands calls on all parties to remain calm and to refrain from further attacks and retaliation. In the interest of stability in the region, immediate de-escalation is necessary."
German Chancellor Friedrich Merz convened his security cabinet after speaking by phone with Israeli Prime Minister Benjamin Netanyahu, who informed him about the objectives behind the military operation.
The Iranian nuclear program "violates the provisions of the Nuclear Non-Proliferation Treaty and poses a serious threat to the entire region, especially to the State of Israel," Merz said in a statement as he warned against regional instability.
Merz cited the recent conclusion by the International Atomic Energy Agency (IAEA) that found Iran was not complying with its nuclear obligations for the first time in 20 years.
Germany stands ready "to exert influence on the parties to the conflict using all diplomatic means at our disposal. The goal must remain to prevent Iran from developing nuclear weapons," the chancellor added.
French President Emmanuel Macron also gathered his defence and security team to assess the escalation of hostilities and implement "all necessary steps" to protect French nationals, diplomats and military officials deployed across the region.
"Peace and security for all in the region must remain our guiding principle," Macron said.
As part of his diplomatic outreach, Macron spoke with US President Donald Trump, with whom he is believed to be in regular contact, as well as with Merz, Starmer and the leaders from Saudi Arabia, Qatar, the United Arab Emirates (UAE) and Jordan.
Turkish President Recep Tayyip Erdoğan was highly critical of Israel, denouncing the military strikes as a "clear provocation that disregards international law".
"The Netanyahu administration is trying to drag our region and the entire world into disaster with its reckless, aggressive and lawless actions," Erdoğan wrote in Turkish.
"The international community must put an end to Israeli banditry that targets global and regional stability," he went on. "The attacks of Netanyahu and his massacre network, which are setting our entire region on fire, must be prevented."
In Brussels, the leaders of the European Union institutions also weighed in on the "deeply alarming" chain of events.
"Europe urges all parties to exercise maximum restraint, de-escalate immediately and refrain from retaliation," Ursula von der Leyen, the president of the European Commission, said in a statement that did not mention Israel or Iran by name.
"A diplomatic resolution is now more urgent than ever, for the sake of the region's stability and global security," von der Leyen added.
High Representative Kaja Kallas described the situation as "dangerous" and said that "diplomacy remains the best path forward". Earlier on Friday, Kallas spoke with her Israeli counterpart, Gideon Sa'ar, and her team was in touch with Tehran.
"We're speaking to both sides and channels are open," her spokesperson said.
Asked if the Commission was ready to evacuate its diplomatic presence on the ground, which is considered to be limited in scope, the spokesperson said: "Appropriate measures have been taken to reinforce the security of our staff and to mitigate risks."
Other capitals offered their initial reactions through their foreign affairs ministries.
"The situation in the Middle East is deeply concerning, and the cycle of military escalation must be brought to an end," said Finland's Elina Valtonen, noting the staff of the Finnish embassy in Tehran was "safe" and continued to operate "normally".
Austria's Beate Meinl-Reisinger said her country and its partners should prepare "for all possible scenarios," as Ireland's Simon Harris cautioned that "further escalation would bring a very real risk of regional spillover".
"This would be disastrous for all the peoples in the region," Harris said.
Meanwhile, the Kremlin's spokesperson said Vladimir Putin was receiving "real-time updates" on the "sharp escalation in tensions". Russia is a close ally of Iran, which is under sanctions for providing military supplies to support the invasion of Ukraine.
The renewed conflict between Israel and Iran comes two days before the leaders of the Group of Seven (G7) are set to meet for a two-day summit in Canada. The summit's agenda was intended to focus on Russia's war on Ukraine and the international trade system, but the latest developments are expected to alter that agenda.
This story has been updated with more reactions.
