There's an article like this written about 90% of Europe's capitals. There are no tech hubs in cheap places, because smart people move away from low wage, low cost of life places. Libon stands no chance, I would say the only contenders are London, Stockholm, Berlin and maybe 2-3 others. The only low-ish cost country I could see becoming a serious contester for a tech hub would be Poland.
Yeah, but the super expensive places tend to also have other great stuff apart from great salaries. For example, Donald Knuth lives in Silicon Valley, and I doubt that VC capital is the reason.
But you have to admit, there's an obvious need/desire for there to be other/more tech hubs. As cool as it might be for some to have a single tech hub, that kills affordability, hence distributing the hubs to numerous spots around the world. Let's face it: if you happen to be a tech employable person, wouldn't it be cool if you COULD spend a few years in tech hub A, then be able to move to tech hub B, etc.? Instead of really only having one (or too few) options? I think so anyway.
I think tech hubs are intrinsically centralized, because you need to get the best people in the sample place. If you have N tech hubs, then you have no tech hubs. If Europe is to have a real tech hub, it needs to have the best minds in Europe (at the very least) be there. And for now, there is not really any such place. Language is also a big issue.
Lisbon is definitely a nice place to live, but not so much to work.
Otherwise why the significant emigration rate of tech workers/skilled workers?
Pay is low and the hours are long.
VC money in Portugal is very limited and bureaucracy is still more than what you would expect comparing to the UK.
Most entrepreneurship programs are state sponsored and usually there is some big international company involved, from incubation these companies become state dependent.
The pay is low if you compare to London, even so I had colleagues in Lisbon earning more (before taxes) than devs in London. If you don't earn enough here to live comfortably, either you dont have the skills (yet?) or have no idea of the market you're in.
Of course, if your plan is to earn money, in Europe London is the place to be.
And a lot of bureaucracy and a complex tax system.
If I wanted to start a business in Europe I'd chose the UK. They are light (for Europe) on regulation and have very simple rules when it comes to running a business according to law. Hell, you can set up your Ltd. in 10 minutes and pay the fees via PayPal.
Try that anywhere in Continental Europe.
(That's also why I don't get all the hype about Berlin. I'm from Germany and Germany is one of the last places where I would start up).
Estonia, while a little obscure, has great facilities for interacting with the government, and a very straightforward tax code. They have one of the most modern governments in Europe, with which you can interact fully digitally by using a digital id (smartcard). Also, check out their latest campaign for attracting business and talent, called e-Estonia. While they have plenty to learn, they are on the right track.
I've heard Portugal could be favourable for personal income tax if you are a remote worker, can anyone comment on that? If i'm thinking about "semi" retiring I'd like somewhere with cheap tax, sun and good hospitals.
Agreed!!! I'd also even be fine if - along with the sun and good hospitals - the taxes were at least reasonable, added in with good infrastructure (besides just hospitals) that benefited from taxes, which as a resident I would directly benefit from!
Apparently there is a 10-year 0-tax on non-Portugal income. Road to residency is quite straightforward (for non-EU citizens) (not sure about citizenship though). On the other hand, bureaucracy is quite bad I've heard.
I suspect what makes a 'tech capital' is the presence of VC money. For better or worse, SF absolutely dominates here, and till we have comparable amounts of money in another location, there won't be comparable 'tech capitals'. I doubt low rent is a marker of a tech capital anywhere. (I could be wrong).
It might make sense to register a company in the USA, raise money from US VC then work from wherever you have access to your customers and you like living. India has a few companies that do exactly this. US registered companies, a global clientele, tech work happens in India, mostly in Bangalore.
* Top research facilities (i.e. Multiple top universities)
* Low cost of living, high quality of life
* Large customer markets
Just because Libson has a low cost of living doesn't mean it will take off. The cost of living is low in lots of South American Cities. Does that mean they will all be the next San Fran?
Lisbon is an awesome place to live, the weather is awesome (today we have 27C and it's almost November), the food and nightlife is great and somewhat cheap compared with other european cities, but it's far away from becoming a tech capital.
It's really a nice place, especially for people who are working remotely and receiving a kind of salary that are paid in UK, US, Australia, etc
Actually I would very much prefer that Lisbon would become the next tech creative scene than the next Sillicon Valley. Besides lots of money for some people, I don't see any particular advantages of being loaded with VC money. I don't buy into the trickle down argument, from what I read over this side of the pond only the IT people are happy in SF.
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I understand what you're getting at, but you should qualify that statement. There are many smart people interested in things other than money.
You'll need a new word to describe this thing you're looking for. ;)
There's a reason why hubs exist, and it's nothing to do with there being many of them to choose from.
Not to mention plenty of companies allow you to work remotely.
Most entrepreneurship programs are state sponsored and usually there is some big international company involved, from incubation these companies become state dependent.
Of course, if your plan is to earn money, in Europe London is the place to be.
If I wanted to start a business in Europe I'd chose the UK. They are light (for Europe) on regulation and have very simple rules when it comes to running a business according to law. Hell, you can set up your Ltd. in 10 minutes and pay the fees via PayPal.
Try that anywhere in Continental Europe.
(That's also why I don't get all the hype about Berlin. I'm from Germany and Germany is one of the last places where I would start up).
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Apparently, the 0% tax only applies in case the income is already taxed in the state of origin...
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It might make sense to register a company in the USA, raise money from US VC then work from wherever you have access to your customers and you like living. India has a few companies that do exactly this. US registered companies, a global clientele, tech work happens in India, mostly in Bangalore.
E.g: Helpshift.
I have the feeling that Europe is searching for its own tech captial right now. London was the best candidate, but (probably) got nuked by the Brexit.
I'd think it could be Berlin, it is rather cheap and still got much creative people. Don't know if they will gentrify it away the next years.
The brains are already here. The companies are already here. The language is English.
There is no other place in Europe who can compete with that.
* Open minded culture
* Top research facilities (i.e. Multiple top universities)
* Low cost of living, high quality of life
* Large customer markets
Just because Libson has a low cost of living doesn't mean it will take off. The cost of living is low in lots of South American Cities. Does that mean they will all be the next San Fran?
It's really a nice place, especially for people who are working remotely and receiving a kind of salary that are paid in UK, US, Australia, etc