The current issue of Startup Heatmap Europe has been published. Munich remains among the continent's ten most important startup hubs in the Europe-wide study.
Munich is only one of three non-capital cities among the top ten, ranking ninth overall. Barcelona (3) and Milan (10) are also in the top group. London and Berlin lead the overall ranking. Following the "Super Connectors" of London and Berlin and the "International Hubs" of Barcelona and Paris, the study authors place the Bavarian capital in the chasing group of "Challenger Hubs."
Munich first in most important category
Of all 78 startup hubs compared, Munich ranks first in Europe in terms of "access to talent," i.e., the availability of highly qualified graduates. This location factor was also cited as the most important by respondents: A full 77% consider it very important to find young talent for their company.
However, Munich's results are less rosy when it comes to the second most important factor, the ease and cost of doing business. Only 291,448,000 respondents vote for Munich here—presumably a result of the relatively high cost of living in the Bavarian capital.
Munich, however, performs well in the third most important criterion, access to fresh capital. A good two-thirds of founders in Munich find investors without major difficulties.
All in all, the result is enough for fifth place in Western Europe.
