There's been a surge in technology companies based in Berlin, Sam Shead previously reported for Business Insider. As James Cook wrote, Berlin is "home to a mixture of hackers, privacy experts, scientists, and video companies that are making waves in the tech scene."
Tech giants like Apple and Facebook have offices in the city, which is also home to local success stories like music streaming service SoundCloud and to-do list App Wunderlist. Google opened its "Campus Berlin" tech hub in 2017 because Berlin's startup scene grew so rapidly over the last five years, setting it on track to become one of Europe's leading ecosystems.
A number of UK tech startups relocated to the relatively cheap city following Brexit, which could inhibit their ability to access the European market and make it difficult for them to hire, The Financial Times reported.
From 2015 to 2017, Berlin witnessed a 9% increase in startups, higher than any European city, reported Nicholas Borsotto Machado Monteiro for Entrepreneur, citing Creditsafe. The city accounted for 70% of total investments in German startups in 2017, and it was named a banner year for startups by Ernst & Young.
While tech booms usually lead to increased real-estate prices, Berlin had so much affordable property available that companies and their employees were able to easily snap up spaces, Monteiro reported. With such affordability, the city has been able to easily attract global talent.