Dublin among top 7 European start-up cities as funding almost quadruples

5 Sep 20161.54k Views

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Venture capital funding levels in Dublin have almost quadrupled in just one year to €229m, putting the Irish capital in the European top 7

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A new chart from Statista, using figures derived from EY’s Start-up Barometer Germany report, indicates venture capital funding levels in Ireland have almost quadrupled to €238m – €229m of which is in Dublin – in just one year.

The chart showed London as Europe’s start-up capital in terms of start-up investment volume, usurping Berlin in just one year.

The UK saw start-up investment volume jump from €1.4bn in the first half of 2015 to €2.1bn in the same period in 2016. The chart showed more than €1.3bn in funding for start-ups in London alone over the first half of this year.

Sweden grew start-up funding volume from €872m last year to just over €1bn in the first half of 2016, with some €1bn worth of funding directed to start-ups Stockholm.

While funding rose across most of Europe, in Germany, funding halved, falling from €1.9bn to €954m.

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France saw funding volume rise from €759m in 2015 to €954m in the first six months of 2016, while Spain saw funding quadruple from €60m in the first half of 2015 to €248m in the same period this year.

In Ireland, funding volumes almost quadrupled, from approximately €69m in the first six months of 2015 to €238m half-on-half. €229m of that funding went to Dublin.

In the Netherlands, funding volumes also quadrupled, from €49m last year to €199m in the first half of 2016. The chart names the city of Naarden as the start-up capital of the Netherlands, with €88m of the funding directed there.

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Updated at 5.15pm: A previous version of this article incorrectly attributed funding amounts.

Dublin image via Shutterstock

John Kennedy is an award-winning technology journalist who served as editor of Siliconrepublic.com for 17 years.

editorial@siliconrepublic.com