Berlin Europe’s Silicon Valley?
What’s the Latest Development?
Berlin’s image has so far not been that of a capital of entrepreneurial innovation, but that may soon change. Tourists still flock to the city to go clubbing but computer programmers, too, are now drawn to the city in droves. Some also like discos but mainly they are lured by the rapidly-rising number of high-tech startups in the German capital. Why? Matt Cohler, a LinkedIn co-founder and former Facebook executive, told Spiegel that the city is one of the best in Europe when it comes to the right environment to nurture a thriving start-up scene.
What’s the Big Idea?
Whereas German start-ups used to focus more on the German market, Berlin is now seeing companies addressing a global market. Start-up hubs tend to grow organically. Some say that for a start-up ecosystem to endure, it has to pretty much be the focus in that place. “In Berlin, it is possible that main thing will turn out to be start-ups.” Berlin could do with it. For years, its economy has lagged behind the rest of Germany and its unemployment remains above 13 percent.
