"Paris is the European city most suitable for startups, closely followed by Madrid and Barcelona."
A report by the UK-based training company The Knowledge Academy came to this conclusion, Euronews reported.
The various cities in this ranking received their scores on a scale of 0 to 10, assessed on the number of available office space, rental prices, proximity to the best universities, internet speed and more. However, the report does not take into account the regulatory background, bureaucracy or taxation.
Are France and Spain the best places for startups?
France performed very well in this ranking, with two cities in the top five, while Spain dominated the top three spots with two cities. London ranks fourth.
Home to some of Europe's best universities and office environments, Paris has "government support and a well-developed startup ecosystem," according to the report.
Lyon, the country's third largest city, which is also a major university center, ranks fifth among the best places to start a business, supported by one of the fastest internet speeds in Europe.
The Spanish capital, Madrid, received high marks for its fast internet and the number of offices available. The other Spanish city in the top three, Barcelona, has built its reputation over the past 10 years as the biggest tech hub in southern Europe.
A financial center with other advantages, London has the highest concentration of business incubators, while also boasting the largest number of Top 250 universities in Europe and an abundance of office space (if you can afford it).
The UK capital has the most offices as well as the highest rents, while internet is fastest in Lyon, public transport is most accessible in Paris and Manchester, UK has the highest average university rating , according to the report.
Choosing the right location is essential, "you have to consider your surroundings as a key factor in its success," says Talveer Sandhu of The Knowledge Academy.
"Having a headquarters or shared workspace for your team can be essential to building collegiality, teamwork and success. Broadband speed and reliability is another crucial factor in running a business, and website and social media monitoring is crucial in the initial stages of building business and brand awareness," added Sandhu./BGNES
