Huge wealth inequalities, rising crime rates, exorbitant living costs, and horrific homelessness…no wonder everyone dreams of being “the next Silicon Valley.”
The most recent bearer of the nickname is Cambridge, England. According to new government plans, billions of euros will be poured into new houses, industrial parks, laboratories and science centers in the city. The investment reportedly aims to create the “Silicon Valley of Europe.”
The city joins a growing list of places worthy of the hackneyed slogan. This desire is particularly widespread in Europe, where half the continent seems to have the nickname “ambitious”. Here are six top contenders for the title.
1. Great Britain
British politicians have long sought to emulate the Bay Area magic formula. In January, Chancellor Jeremy Hunt made another proposal Make the UK the ‘next Silicon Valley’.
“If anyone is thinking about starting or investing in an innovation or technology driven business, I want them to do so in the UK,” said Hunt.
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His vision combines lower taxes and post-Brexit regulations with the country’s established strengths in technology, science and financial services. Critics are skeptical about the high ambitions.
2. Danish Islands
Is this the next Silicon Valley?
In 2019, Danish politicians unveiled plans to build nine artificial islands south of Copenhagen. The project, called Holmene, aims to create a futuristic technology zone.
“I think this could become a kind of European Silicon Valley,” Brian Mikkelsen, head of the Danish Chamber of Commerce, told TV2.
The first lots are expected to go on sale in 2028. The entire project should be completed by 2040.
of Ireland Control system and IT talent have attracted many Tech giants want to make the Emerald Isle their European home.
The country also uniquely combines EU and Eurozone membership with strong ties to the US and UK – an enticing package for global businesses. Such enticements clearly caught the attention of Brian Halligan, the co-founder of Hubspot.
“Ireland certainly has a chance to become the Silicon Valley of Europe,” Halligan told Silicon Republic in 2018.
4. Saclay Plateau, France
The French government has poured money into a burgeoning tech hub in the Plateau de Saclay, a research and business cluster south of Paris. Created by former President Nicolas Sarkozy, the district brings together technology companies and universities.
“Saclay is a home of excellence that is unique in France and could become a French Silicon Valley,” said Christian Blanc, the minister who led the project, back in 2009.
Since then, progress has been bumpy. While successful businesses and research institutes have sprung up, the region faces problems with accommodation and accessibility.
5. The Nordic-Baltic region
Can teamwork make the Silicon Valley dream come true?
Our latest entry in the list brings together Nordic and Baltic countries. In May, Estonian Prime Minister Kaja Kallas unveiled plans to unify the countries into a tech superpower.
“We’re too small to do it alone, but the Nordic-Baltic region combined has a population of 33 million and generates around 2% of global GDP,” he said Called. “By working together intelligently, we can develop a private equity and venture capital ecosystem that is both large and flexible, making it attractive to large investors in third-party markets.
“Asset pooling could also create larger tickets from large institutional players. In other words, instead of competing, we can build a new Silicon Valley — let’s call it the New Nordic Tech Valley.”
6. Berlin, Germany
Berlin is stable The flow of skilled labour, EU membership and the (relatively) low cost of living have often drawn hopeful comparisons to Silicon Valley.
The city’s IT sector is best known for thriving start-ups, but also for the tech industry Giants are also drawn to the “poor but sexy” German capital.
“In no other city is the pioneering and innovative spirit as strong as in Berlin,” said Christian Illek, then Managing Director of Microsoft Germany, in 2014. “If we succeed in converting the ideas of startups into successful business models, Berlin will become silicon Valley of Europe.”
As this list shows, various contenders for this title have emerged in recent years. So far, none of them have kept their promise, but at least they found a catchy marketing slogan.