IRELAND IS THE most entrepreneurial country in Europe.
That is according to the Wall Street Journal which analysed Dow Jones data on the total amount of venture capital raised by tech companies over the past 10 years.
The figures show that Ireland attracted four times as much funding per capita as the European average. It saw the country raise 650 times as much per capita as last-placed Bulgaria.
Dow Jones VentureSource is quoted in the newspaper:
Despite Ireland’s battering during the financial crisis, the country’s tech startups fared relatively well. Of Ireland’s 311 VC-backed deals since 2003, 131, or 42 per cent, came in 2009 or later.
By contrast, the UK closed 1,441 such deals, or just 34 per cent of its 10-year total of 4,208, in the postcrisis period. And across Europe as a whole, the past five years account for 39 per cent of the total for the decade.
The success has been put down to a favourable corporate tax rate and young, educated workforce, as well as the presence of Google, Amazon, Apple, Facebook, Twitter and Dropbox in the form of investment and office space.