IMHO the only place in Europe where there's been real innovation - and not just copycats of American startups - is Scandinavia. Think Linux (Finland), Opera (Norway), Skype, MySql, Spotify etc (Sweden).
Yes, come to Scandinavia! It's happening a lot here, there's some great iniatives to become a real innovation hub for tech companies. And most importantly - we have competence and willingness to make great inventions. Stockholm is the natural hub, but both Helsinki, Copenhagen, Oslo & Malmö is great. The South of Sweden have become a great place with many iniatives, companies and events.
I know, we have higher taxes, but it's a lot cheaper than UK (for example).
