By Nathalie Marquez Courtney
Fashion, design, art, history, culture, food – and now tech.
ADVERTISEMENTThe ancient city of Milan has never been afraid to innovate. It’s now making its mark as an exciting and growing tech hub, becoming home to ambitious developers, entrepreneurs and companies.
If you’ve only ever considered the Italian city as a holiday destination, it’s time to think again. So, what makes Milan a great place for tech workers?
Investment is high for innovators
As the business and financial capital of Italy, it’s no surprise that Milan is also becoming Italy’s main tech city.
In 2022 alone, more than €1.3 billion was invested in Milanese start-ups, with fintech and biotech companies dominating.
This level of investment puts Milan in third place in Europe, very much holding its own when up against much more established ecosystems of Paris and London.
ADVERTISEMENTAs of the end of 2023, Milan was home to 2,669 innovative start-ups, the most in Italy and almost 20 per cent of the country’s total.
There’s plenty of room to grow, and the Italian government is keen to help.
Since 2016, it has introduced a series of reforms, tax reliefs and incentives to make it easier to both invest in and set up innovative start-ups. These include interest-free loans, tax deductions for R&D expenses and income tax exemption for new residents.
Curious about joining a buzzing start-up? The Euronews Jobs board has hundreds of opportunities across Europe.
Great quality of life for younger tech workers
Milan is a fun and vibrant base for people starting their tech careers. Boasting an extensive and efficient transport system, it performs above the world’s average in terms of work-life balance and healthcare, according to the OECD’s Better Life Index.
Milan’s cost of living can be lower than other major tech hubs (€1 espresso anyone?) and the city’s seven universities mean there is a thriving social scene and great nightlife, not to mention access to incredible museums and cultural attractions.
Whether you choose to work for a start-up or a leading tech company (IBM, Microsoft, Google, and Amazon all have offices there – keep an eye on the Euronews Jobs Board for openings), you’ll be part of a diverse and growing tech community, with meet-ups, hackathons and tech events a regular occurrence.
Thriving fintech hub for experienced devs
Home to over 13,800 financial companies, including the Italian Stock Exchange, Milan’s fintech industry is booming, with almost half of all fintech firms in Italy based there.
An industry leader in smart payments, insurtech, regtech, capital markets, and trading, Milan’s dedicated Fintech District has over 280 fintech players, 14 corporate partners, and is Italy’s biggest fintech community.
Though fintech funding has dropped worldwide in recent months, the Italian fintech market remained robust and continued to attract international investment.
ADVERTISEMENTIn 2022, two Milan-based start-ups achieved unicorn status, cementing its position as the country’s fintech capital.
What’s more, between 2011 to 2023, fintech companies in Italy grew from 16 to 630, with Milan leading this growth.
