MainInsights & AnalyticsA research study of 19 start-up hubs in Europe

A research study of 19 start-up hubs in Europe


In 2019, PwC — in collaboration with Münster University of Applied Sciences — conducted a survey among tech companies that were founded less than eight years ago. They have interviewed 590 CEOs and founders that operate in one of the 19 European cities, so-called start-up hubs, such as London, Berlin, Paris, Tel Aviv , including 50 startups in Moscow.

Oslo and Rome are the cities where startups say it is easiest to recruit suitably skilled and qualified employees, while 75% of surveyed companies in Berlin consider the current recruitment situation difficult. 53% of the cities surveyed assess the current situation predominantly as “difficult” than “easy”. 82% of Russian startups surveyed have the same difficulties.

Overall, 45% of the start-ups stated they have “easy” access to finance for their company, whereas almost 32% confirm they find it difficult. Startups in Helsinki and Tel-Aviv report the easiest access while those in Rome, London, Zurich, Dublin and Moscow find it most difficult. Only 31% of startups from Moscow mentioned easy access to financing.

The three main challenges start-ups are usually facing in Moscow are internationalization, customer acquisition & sales, product development & innovation.

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Supported by the Moscow Government