Mobile Tech Growth in Europe is on the Fast Track

A study from Atomico suggests that tech is growing across Europe faster than pundits and app developers might believe.

While it’ll be some time before it rivals Silicon Valley and the US market in terms of sheer venture capital and startup numbers (the US currently leads by a fivefold margin), investors are starting to take a much greater interest in tech hubs in England, France, and Germany in particular.

This is great news for London mobile app developers, who stand to reap big rewards from the ongoing European tech boom. It’s also good news for app developers and startups in the US with an interest in expanding or relocating, as many tech companies large and small have done in recent years. Facebook, for example, has developed sattelite centers in several European cities. Alphabet has a presence in London, and it’s easy to suppose that employees of these major tech names might eventually split off and drive a small-scale startup economy in their local areas.

Deep tech companies in particular have been driving the trend, as the study cites companies like LinkedIn, Meetup, and Stack Overflow who have helped draw over $2 billion in investments in the past 22 months alone. Germany, Finland, and the Netherlands all show rapidly growing deep tech investments, and more conservative funds are starting to come around to the idea of putting capital behind the tech boom.

Meanwhile, individual cities have emerged as “cultural capitals” for a variety of niche tech innovations. Paris, for example, has been enjoying something of a Renaissance when it comes to artificial intelligence companies.

The takeaway for app developers: while Brexit and other economic events have cast doubts on Europe’s economic vitality, tech is still a major player in the area. California has risen to one of the top-performing economies in the world thanks to a similar tech boom. Could the same happen for Europe? When it does, it will help to solve many issues and bring a rush of new jobs to the area.