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2016 Initiator German Startups Association 2016 Initiator German Startups Association Authors Prof. Dr. Tobias Kollmann, Dr. Christoph Stöckmann, Simon Hensellek, Julia Kensbock – University of Duisburg-Essen, Department of Economics and Business Administration, E-Business and E-Entrepreneurship Research Group Technical Execution Julian Bühler – ESCP Europe Art Direction & Design Björn Matthes (www.araproject.de) Acknowledgement We thank all involved international associations, experts and supporters ISBN 978-3-938338-17-9 Sponsors ESM 2016 Greetings from the European Commission Vice-President for the Digital Single Market A key part in building the Digital Single Market is to help and promote Europe’s startups. Startups are vital to our economy, job market, and digital future. They are drivers of European innovation. No one creates more opportunities for employment than startups and other young companies; they provide around 50% of all new jobs. Data-gathering international research All in all, there are too many restrictions and barriers for initiatives, such as the European Startup Monitor innovative entrepreneurs. The markets for capital and (ESM), are extremely useful. They give unique and talent are fragmented across the European Union – as authentic insight into emerging startup ecosystems, are regulatory regimes. This makes it hard to scale up providing detailed information and regular updates across borders, whether one is setting up a company of their basic characteristics under one comparable from another EU country or from outside the EU. The methodology. All of this helps startups as they seek to Digital Single Market strategy addresses many of these link together in networks, join ecosystems across Europe problems as well as other unnecessary digital barriers and find partners and investors. The ESM also assists that startups face in their growth process. It aims to policymakers and regulators in knowing exactly how to reduce obstacles so that startups have more freedom support startups in the best and most appropriate ways. to innovate and scale up in Europe while operating Startups have an ambition to grow and want to spread across the EU‘s borders within the international market. across borders easily. Along with finding profitable, This is part of the need for better regulation for the repeatable business models, their primary goal is to scale digital age—we need rules that are “fit for purpose” to up. Of course, launching a new company with a new promote the start and scale-up of digital businesses. idea is one thing, but helping it to grow in a competitive For startups, the future is now. marketplace is another. As the ESM’s research makes it clear, startups face many problems, including sales/ customer acquisition, product development, growth and raising capital. We also know that they find it difficult to Andrus Ansip – European Commission Vice-President recruit and retain the right talent. for the Digital Single Market 3 Overview ESM 2016 OVERVIEW The 2nd European Startup Monitor (ESM) represents: 2,515 startups 6,340 founders 23, 7 74 e m p l o y e e s . It has three goals: To present the development and significance of startups and identify research gaps. To outline economic initiatives that will strengthen the national and regional startup ecosystems of Europe. To cultivate enthusiasm for entrepreneurship in society. Startups are defined by three characteristics: Startups are younger than 10 years. Startups feature (highly) innovative technologies and/ or business models. Startups have (strive for) significant employee and/or sales growth. 5 Facts from the 2nd ESM ESM 2016 Age of Facts startups The ESM startups are on from the average 2.4 years old. The digital 2nd economy Founding businesses as part European of the digital economy is again highly attractive. Startup Interna- tionalisation Monitor of startups 77.7% of the ESM startups are planning (further) internationalisation. Female founders The percentage of female startup founders is 14.8%. 6 Facts from the 2nd ESM ESM 2016 Employment ESM startups Growth in of startups plan to raise development The ESM startups employ another € 2.7 More than 70% of the on average 12.0 employees billion startups are expecting a (incl. founders). more favourable develop- Startups plan to raise ment in the following year. European additional € 2.7 billion in external capital in the European startups following 12 months. create jobs startup Business challenges The ESM startups are plan- ning to hire another 5.8 new satisfaction The biggest challenges employees in the near future. and positive that European startups are facing include sales and/or ESM startups atmosphere customer acquisition, product development More than 90% of the have raised and growth. ESM startups rate their around present business situation € 2.0 billion as good or satisfying. The ESM startups have already raised around € 2 billion in external capital (statistical projection). 7 Introducing 7 European startup ecosystems ESM 2016 Introducing 7 Hungary Hungary has a prominent European startup startup ecosystem. New state-funded capital ecosystems programs, worth a total of €550 million, will open in the next five years. This initiative Cyprus As a services hotspot with will provide funding for startups strong shipping, tourism and in all stages of their lives. Cyprus is an amazing place for financial services industries, The relationship between any startup to be at during the Cyprus provides a great pilot Hungary’s regulators and the first stages of its lifecycle. It is market for startups. startup world is strengthening, supported by a liberal economy This allows MVP testing to with results such as a new angel and is recording among the be lean and mean while tax break and a Digital Welfare highest growth rates in Europe. allowing funding to carry a Program. Regulation tailored The government is strongly company further. to the aims of Industry 4.0 is committed to action and is The country’s thriving startup in the making; this will allow guided by its National Policy ecosystem is dynamic, friendly startups to be more integrated. Statement for Entrepreneurship and supportive, developing Initiatives, both top-down and which offers competitive startup under the umbrella of Startup bottom-up, are being born all and investment incentives. Cyprus. With its meetups, over the country. In the last year, Other benefits of Cyprus are hackathons, startup events, eight accelerators have launched its low income tax rate, afford- accelerators, the Business in the countryside and three in able cost of living (making Angels Network and the Budapest, together with half a startups five times cheaper to Founder Institute global dozen new co-working offices. operate) and high percentage accelerator, Cyprus is shaping The entrepreneurial spirit in of foreigners and multi-linguals. up to be an important part of the Hungary is among the lowest It is an ideal place to expand European startup ecosystem. in the EU, but has increased into international markets, in recent years thanks to three especially the Russian- and Stavriana Kofteros - huge startup successes (i.e. Arabic-speaking markets. Startup Cyprus Prezi, Ustream and LogmeIn) 8 Introducing 7 European startup ecosystems ESM 2016 that involve young talents. Development Institute). two years. Exactly half of Polish The Hungarians have a great Ireland is perfectly located at startups are financed exclusively digital skillset, and their weak the heart of the trading world, from their own resources, but entrepreneurial skills can and has a strong pool of talent there is also a high share of be developed through new and a proven track record in funding from external sources, programs. attracting multinationals as especially EU funds, VCs, well as high growth companies. business angels and Polish public Gergely Böszörményi Nagy - Each geographical region plays funds (i.e. the National Centre Design Terminal to the strengths of its area for Research and Development when attracting startups and and the Polish Agency for Ireland multinationals. Ireland has Industry Development). developed several vibrant hubs Quite a few tech projects Ireland has a vibrant startup and world class accelerators originating in Poland have ecosystem with some fantastic in fintech, medtech, IOT and become well-known beyond stories and successes. The software, including Dublin, a their local market (i.e. country’s innate creativity has bustling tech hub, and Galway, Estimote, Growbots, UX Pin led to a culture of innovation, which is home to a vast array of and Doc Planner). The most with five of the top 10 World’s biotech and medtech companies. important startup centres Most Innovative Companies in Poland are Warsaw (27%) (according to Forbes) now Tom Watts - Startup Ireland and Krakow (11%). Warsaw operating out of Ireland. There startups are more business- is an interest and an appetite Poland oriented while Krakow’s are for progress in Ireland’s startup more technology-centred. scene and as such Ireland is According to the Polish Startup There are many large-scale fast becoming a launch pad Report 2016, there are around meetings regarding the status to global success. A rapidly 2,700 startups in Poland. Most of Poland’s startup ecosystem, growing startup ecosystem of them operate using a B2B such as Aula Polska, Hive53, has resulted in Ireland being model and are founded by young Startup Stage and OpenReaktor. regularly ranked among teams of mostly 25- to 35-year- That is why almost half of Europe’s most entrepreneurial olds. Polish startups are among Polish startups recieve contacts countries (Source: The the youngest in Europe, having and insights about business Global Entrepreneurship and existed, on average, for less than development from participation 9 Introducing 7 European startup ecosystems ESM 2016 in competitions and events programs that are key to this Valley. The Ljubljana-based (e.g. hackathons and Startup progress. The Web Summit ABC Accelerator has a branch Weekend). The community coming to Lisbon is proof that in San Jose in addition to its of startups in Poland is still the city is increasingly well- office in Munich and domicile growing strong thanks to the positioned on the international in Ljubljana.
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