Living in Paris, I can feel a strong momentum of entrepreneurship and startups. ex: Recent "Station F" incubator from Xavier Niel is opening in 2018 and will be one of the largest startup campus in the World. Macron is strongly pro-startup. there are a LOT of options for funding (quite crazy when I saw how much we can get with my startup (Banque publique d'investissement, crédit impôt recherche...). It is really easy to start a startup, not much paperwork (surprisingly).

Contrary to 10 years ago, best students coming from "les grandes ecoles" want to be entrepreneur or join a startup. This is a radical change to the mindset from the past when the best opportunity would be in big companies. PhD start to be recognised as they should in private sector and more PhD are leaving academic to private (which I did).

Now, I think that comparing Europe to SV is too premature, (A change in culture is yet to come). But the dynamic is here.

In Paris, salaries in tech startups are high (for what I saw: ~42K junior, ~60 senior (5y)) compared to the cost of living (in France healthcare and education are free), rent is high. So yeah, I am confident for the future of Europe :)

edit: and from what I saw, most startups' products have english language available (interface/doc). Most of them have international expansion in mind.