The UK beat the rest of Europe in attracting money for hi-tech ventures, according to new research.
Of the top 200 venture capital funded companies in Europe, 20 per cent are based in the UK. Forty UK companies involved in the study received a total of Eu580m, said Belgian research and consulting firm Europe Unlimited.
France followed with Eu390m and Germany came third with Eu270m.
Jan Oersted, chief operating officer at Europe Unlimited, said: "The UK has been historically cleverer than any other region in terms of tech investment.
"Although some of the larger countries like France and Germany are making ground, they came late to the game and are still very unorganised compared to the UK."
While Britain had the most companies in the top 200, Israeli firms received the most investment, followed by Dutch and Irish organisations.
But it is bad news for startups, according to Oersted, because there is an increasing trend among venture capitalist companies to invest in established firms when they have passed the risky stages of development.
"It's still the good companies that win the good investment," he explained. "It's hard for small companies to get investment because they don't have a business record."
Oersted also believed that levels of investment in 'good companies' has remained pretty much the same as it was before the dotcom bubble burst.
UK firm Celoxia, which provides solutions for the rapid development of designs for re-configurable hardware, topped the list with Eu65m in investment in the past three years.
MediaSurface, also based in the UK, was placed second, having raised Eu63m over the same period.
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