This is a great interview with London based seed investor Saul Klein (formerly Index Ventures).
I agree with Saul about some of the advantages of setting up Tech start ups in Europe:
- We have to be multinational from the get go
- We have an incredible talent pool from all over the world to help us
- The financial crisis has stimulated innovation through a need to be self reliant.
There is money,there is talent and there is opportunity in Europe.
Saul Klein:"...outside the Bay Area and China, London has produced more billion-dollar companies in the last 15 years than any other location, globally. London is basically Sand Hill Road for Europe. We now have a critical mass of capital, of customers, and of talent that really makes building a billion dollar company not just a theoretical possibility but a reality that is happening frequently. We’ve had massive, massive exits out of Europe. King most recently. Just Eat if you compare it to GrubHub is significantly larger and more valuable. We have Rocket and Spotify and Klarna and TransferWise. We have SoundCloud. There is just sort of a critical mass now and a wave that has been building over the last five to ten years. "