Manuel Silva Martinez, General Partner, Mouro Capital:

“In the business and technology media, you often see references to a city being a leader in a particular sector or technology. Equally commonly, you hear politicians and business leaders talking about ways that their own cities can retain or get to the ‘top spot’ in their chosen sectors. Often, this is calculated by way of VC investment in particular cities and industries.

This is an outdated way of thinking that attempts to deny the ever-increasing globalisation of the economy. Businesses are more multinational than ever before, with supply chains crossing the globe and employees and partners hailing from all over the world. If capital is invested in a technology company headquartered in London that also has offices in Vienna and Paris, then clearly you’re investing in the technological capabilities of those cities too. Capital, just like knowledge, is not bound by national, let alone city, borders".