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Over 4.5 million people working in 830,000 companies in 20 EU startup hubs.

A new Startup Europe report done for the first time in an innovative way extract company data from 20 cities and has put the spotlight on Europe’s vibrant startup scene. The analysis reveals how local startup ecosystems are connected. While some cities are well connected notably Paris and Brussels, London and Berlin there is a lack of connectivity across other cities.

A newly released interactive map (available at www.startuphubs.eu) zooms in on 20 startup ecosystems in 15 EU countries. It identifies:

  • 830,000 companies are active across 20 startup hubs, together they employ over 4.5 million people and generating over €420 billion in revenue
  • The top 5 cities in terms of revenue generation were London, Berlin, Munich, Rome and Paris.  They have generated over €326 billion of revenue and are employing nearly 3.5 million people
  • Over 4,000 companies that have received funding through venture capital and large angel rounds, usually known as startups, have collectively generated €5 billion of revenue, employing over 34,000 people. These companies have raised €36 billion of investment from European and international investors
  • Over 41,000 “IT software development” and “IT web & information services” businesses which collectively generate €18.4bn revenue, employ 211,785 people and have raised investment of €5.73bn
  • Berlin, London, Paris and Stockholm are the most developed and established startup hubs
  • Growing startup ecosystems are to be found in Amsterdam, Copenhagen, Dublin, Helsinki, Madrid, Manchester, Munich, Oslo, Rome and Vienna
  • Athens, Brussels, Bucharest, Malmo, Tallinn and Warsaw are emerging startup ecosystems. There are particularly strong connections between companies in Brussels and Paris
  • The interactive map provides the foundation of a solution that will offer European policy-makers, investors and entrepreneurs more accurate data than any other economy in the world. This will be an enduring competitive advantage for European entrepreneurship and an important element of the digital single market.

The report has been published in advance ofStartup Europe Comes to Universities week. This initiative aims to showcase the commitment of European universities to create a strong culture of entrepreneurship and innovation that is spreading in the university community. And as result transferring it to the society by creating startups and spinoffs with high added value, based on knowledge and technological development.

The report, provides new insights into the scale and nature, strengths and weaknesses of, and the relationships between, Europe’s startup ecosystems. It was carried out by Grant Thornton and Trampoline Systems on behalf of the European Commission. You can download the report from the EU publications website.

In addition to the mapping exercise, interviews with over 200 entrepreneurs, investors, accelerators, co-working spaces, government officials, universities, businesses, network groups and startup influencers and shapers have pinpointed some of the barriers and opportunities that exist within these startup ecosystems.  These include:

 

Entrepreneurial culture

290,000 of the businesses mapped are less than five years old, underlining the entrepreneurial culture that is being created across Europe. These young businesses employ 1.1 million people, have a combined revenue of €87 billion and have raised nearly €10 billion in investment. ‘The report identifies a number of ways in which the entrepreneurial culture in Europe is changing and the different initiatives in place to support this, for example, Entrepreneur First is a London-based startup accelerator which assists promising UK and Central European tech graduates and those already working in technology firms to design and run their own startup and has helped establish 75 startups in its first four years.

 

Skills and accessing talent

Cited frequently as the single biggest challenge, or indeed threat, to the individual ecosystems. The headline challenge manifested itself in a number of different ways:

  • The need for more technical and higher-level skills in coding, system architecture and programming.
  • The lack of entrepreneurial skills with European universities seen to be producing well qualified graduates but lacking the core skills necessary to start and run a business.  The result is that while there is a pipeline of good, innovative ideas and propositions for products and services the ability to take these ideas and to commercialise and scale them is often missing.
  • A lack of sales and marketing skills was an issue particular to Nordic ecosystems

 

Venture capital

For a number of stakeholders the presence of a functioning and expanding venture capital market was one of the strongest indicators of an ecosystem’s maturity and strength. Four specific schemes have been cited as good examples that Europe should consider adopting as a whole. These examples were Finland’s Tekes, the UK’s  Enterprise Investment Scheme and the Seed Enterprise Investment Scheme, Germany’s High-Tech Gründerfounds and the French Bpifrance.

 

The Commission will take this analysis and recommendations into account when implementing its Startup and Scaleup initiative outlined in November 2016. In the future the dynamic mapping of Europe’s startup ecosystem will be extended to cover all EU Member States.

 

Connectivity of ecosystems

The project has revealed about how European cities are connected through international subsidiaries and highlighted below is a matrix of the 5 most-connected cities out of the 20, showing Brussels and Paris as the most connected cities.

 Background

Since 2011 The European Commission’s Startup Europe initiative has helped to strengthen the business environment for web and ICT entrepreneurs so that their ideas and business can start and grow. It is part of the Commission’s efforts under the Digital Single Market and Single Market strategies to boost economic growth and create jobs by helping startups. Last year more than 30,000 participants took part in the first Startup Europe Week which reached over 2 million people on social media.

 

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Startup Olé Accelerator hosts SEC2U

Entrepreneurship is increasingly seen as a valuable career choice for recent graduates. Developing your entrepreneurial competencies is now seen as crucial, not only for starting your own business, but for contributing to the success of small companies. Even large corporations are beginning to see the value in entrepreneurial skills for their employees.

There still exists a struggle for students to obtain entrepreneurship skills and experience, with commercialization and knowledge transfer often overlooked. For this reason, we welcome Startup Europe Comes to Universities (SEC2U)!

SEC2U is an initiative endorsed by the European Commission(Startup Europe) to create a strong culture of entrepreneurship and innovation within universities across Europe. This consists of a series of events that bring together students, university staff,entrepreneurs, businessmen and representatives of local governments in order to showcase the available support andform valuable connections in the startup ecosystem. The second edition of SEC2U will take place from the 23rdto the 29thof October and the University of Salamanca/Startup Olé Acceleratorwill be joining the initiative!

During the event that will take place in the Narodowy Stadium, Warsaw as part of the CEE Acceleration Summit on the 26thof October, where Universities will come together with Accelerators, Corporations and Policy Makers to bring up the startup ecosystem in Europe

Startup Olé Accelerator of the University of Salamanca will be supported by other universities across Europe, taking steps towards the internationalization of the CEE region together with over 30 prestigious universities in the SEC2U initiative.

With approximately 3000 people expected in attendance, this is a time to showcase the work of universities in the entrepreneurship area, build bridges between university communities and startup ecosystems and facilitate connections!

Take the right step towards your future and don´t miss out on this opportunity. Find out more about SEC2U and the events near you: http://startupeuropeuniversities.eu/

See you there!

 

About Startup Europe Comes to the Universities (SEC2U)

Startup Europe Comes to the Universities (SEC2U) is a Europe wide initiative to engage universities (from the Startup Europe University Network and beyond) and enable them to spread an entrepreneurial culture. SEC2U will hold events across Europe during the week of 23rd to 29th of October 2017.

The main objective of the SEC2U events is to showcase the commitment of European universities for entrepreneurship and to connect universities to the wider startup ecosystem.

 

The Startup Europe team works with entrepreneurs connecting them with the European ecosystem where talent, investment and learning can be easily captured. We believe Europe’s growth is going to be determined by savvy startups, and we want to support the growth of these startups.

http://www.startupeuropeclub.eu | @startupEU

 

CONTINUE READING

Startup Olé Accelerator hosts SEC2U

Entrepreneurship is increasingly seen as a valuable career choice for recent graduates. Developing your entrepreneurial competencies is now seen as crucial, not only for starting your own business, butfor contributing to the success of small companies. Even large corporations are beginning to see the value in entrepreneurial skills for their employees.

There still exists a struggle for students to obtain entrepreneurship skills and experience, with commercialization and knowledge transfer often overlooked. For this reason, we welcome Startup Europe Comes to Universities (SEC2U)!

SEC2Uis an initiative endorsed by the European Commission (Startup Europe) to create a strong culture of entrepreneurship and innovation within universities across Europe. This consists of a series of events that bring together students, university staff,entrepreneurs, businessmen and representatives of local governments in order to showcase the available support andform valuable connections in the startup ecosystem. The second edition of SEC2U will take place from the 23rdto the 29thof October and the University of Salamanca/Startup Olé Acceleratorwill be joining the initiative!

During the event that will take place in the Narodowy Stadium, Warsaw as part of the CEE Acceleration Summit on the 26thof October, where Universities will come together with Accelerators, Corporations and Policy Makers to bring up the startup ecosystem in Europe

Startup Olé Accelerator of the University of Salamanca will be supported by other universities across Europe, taking steps towards the internationalization of the CEE region together with over 30 prestigious universities in the SEC2U initiative.

With approximately 3000 peopleexpected in attendance, this is a time to showcase the work of universities in the entrepreneurship area, build bridges between university communities and startup ecosystems and facilitate connections!

Take the right step towards your future and don´t miss out on this opportunity. Find out more about SEC2U and the events near you: http://startupeuropeuniversities.eu/

See you there!

 

About Startup Europe Comes to the Universities (SEC2U)

Startup Europe Comes to the Universities (SEC2U) is a Europe wide initiative to engage universities (from the Startup Europe University Network and beyond) and enable them to spread an entrepreneurial culture. SEC2U will hold events across Europe during the week of 23rd to 29th of October 2017.

The main objective of the SEC2U events is to showcase the commitment of European universities for entrepreneurship and to connect universities to the wider startup ecosystem.

CONTINUE READING