The emerging tech environments of China and Europe
April 28, 2015
The emergence of cloud computing and data center operations has significantly altered the framework of not just the U.S., but the business world as a whole. Chief executives are depending on high-tech enterprises to streamline processes and optimize production rates with the help of innovation.
While this global shift has affected countries big and small, China and Western Europe have certainly been two of the top regions to fully embrace the potential gains of cloud adoption, data center expansion and other strategic efforts in the digital age. The international growth of the tech sector will continue to foster a strong employment atmosphere for those seeking IT careers.
Talent in China goes from government to tech
Bloomberg Business reported that many of the most talented college graduates in China are eschewing paths to government jobs in favor of riskier positions with tech startups. The news outlet noted that the deceleration of the country’s economy has hampered the growth of companies supported by the state.
Meanwhile, Jack Ma, co-founder of the Alibaba Group, has inspired many young people as well, Bloomberg reported. Ma recently led what became the largest initial public offering of all time for his global e-commerce company. As a result, the country’s take on Silicon Valley created more than 49 startups per day in 2014, and more than 1,000 investors have committed at least $56 billion to the industry.
“China’s current technology boom is intertwined with reform in finance and politics and energy, environment and healthcare, Hou Yu, founder an online finance firm and a former Goldman Sachs banker, told the news outlet. “This is a very powerful process and it’s all very exciting.”
European tech also on the rise
According to The Wall Street Journal, investors contributed $8.9 billion in equity financing for European companies in 2014. Dow Jones VentureSource pegged that figures as the largest since 2001, the news outlet reported.
Adam Kostyal, the senior vice president of listing services in Europe at NASDAQ OMX Group Inc., told The Journal that there will plenty more mergers and acquisitions over the course of 2015. However, at this time, regulations from the European Union are holding back some of the front-runners.
“European regulators have the ambition to do the same thing as the JOBS Act, but they have to work across so many jurisdictions,” Kostyal told the publication. “Europe is suffering from this now.”