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GLOBALOUTLOOK TECHCITIESOFTHEFUTURE


excelling in various country-level data points, including the 2021 Index of Economic Freedom. Dublin’s strengths were also seen


in the FDI Performance category, withmore than 6500 outward FDI jobs created by start-up companies between 2016 and 2020,which was second highest of all European cities ranked after London. Dublin continues to be a thriving


hotspot in the start-up space, thanks in part to Enterprise Ireland, which doubled the funding provided against 2019, investing $56.5m in 2020 across 125 new start-ups. Furthermore, larger companies


have also announced FDI projects into the Irish capital. These include Mastercard,which launched a new campus in Dublin, creating 1500 jobs, and Microsoft, which announced plans to create a $31m engineering hub in the Irish capital, creating 200 jobs.


SPOTLIGHTON… Stockholm


Stockholm placed ninth, up three places from last year’s ranking, after performing exceptionally well in the Innovation & Attractiveness and Start-Up Environment catego- ries. The Swedish capital has devel- oped a flourishing fintech ecosys- temaround homegrown sensation Klarna. It also benefitted from a series of country-level data points. Sweden ranked second in the World Intellectual Property Organisa- tion’s 2020 Global Innovation Index and was ranked the top European country in Huawei’s Global Connec- tivity Index.


Madrid Madrid achieved sixth place, up five positions on the previous year’s ranking. The Spanish capital contin- ued to excel in the FDI Performance category and performed well in the Start-Up Environment category, as home tomore than 300 start-ups and 100 co-working spaces. Furthermore, according to data published by Dun &Bradstreet, Madrid has the second- highest number of companies in communications fromall the cities within the ranking.


Berlin The German capital ranked fourth overall, moving up one place on the previous year, thanks to a strong performance in the Start-Up Envi-


32


“MADRID STANDSOUT ASONE OF THE TOP ENTREPRENEURHUBS INEUROPEANDHAS ESTABLISHED ITSELF IN RECENT YEARS AS A REGIONPARTICULARLY ATTRACTIVE, BOTH TO INTERNATIONAL CAPITALANDTO ENTREPRENEURS FROMOTHER COUNTRIES”


MANUELLLAMAS, DEPUTY MINISTER FOR ECONOMYIN THE GOVERNMENT OF THE REGION OF MADRID


ronment category. Due in part to long-standing partnerships and sup- port fromprivate and public organi- sations in the city, Berlin received more than $900m in venture capi- tal funding in 2020, according to Pitchbook, second only to London for the year.


Methodology To create a shortlist for fDi xTNW Tech Cities of the Future 2021, the fDi Intelligence division of the Finan- cial Times collected data using the specialist online FDI tools fDi Bench- mark and fDi Markets, as well as other sources. Data was collected for 76 loca-


tions across Europe, under five cate- gories: Economic Potential, Innova- tion&Attractiveness, FDI Perfor- mance, Cost Effectiveness and Start- up Environment. Locations scored up to a maxi-


mumof 10 points for each data point, weighted by importance to the FDI decision-making process to com- pile the subcategory rankings. In addition, surveys were collected under a sixth category, FDI Strategy, for which there were 32 submissions. Locations that ranked in the top


20 in this category were given bonus points, contributing to their overall score. Together, the data sub- category rankings and the FDI Strat- egy ranking make up the overall fDi and TNW Tech Cities of the Future 2021 ranking.■


www.fDiIntelligence.com August/September 2021


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