Hey Steemers,
having joined in 2015 Angelhack as a US Ambassador while living and working in New York City has made me a more neutral judge over the European market's start-up scene. As i am travelling the world I wanna share this thought with you, here is NYC:
Industry experts continue to claim that Europe is hostile territory for startups. In fact, a Facebook VP went as far as to claim that regulations and taxes in Europe are pushing the best would-be innovators to flee to the US.
Europe is nowhere near bankrupt in capital, talent or ambition. Those are the building blocks of a healthy startup ecosystem making Europe more than able to compete on the global stage.
2015 has been called a “breakthrough year” for Europe according to data presented at Slush Conference in Helsinki. Here. An estimated $10 billion will be invested this year in Europe’s tech startups, Europe’s tech talent pool is nearly equal to the number in the U.S with 1.6 million professional developers at work. There have been more than 100 European tech IPOs in the last 5 years, MORE than in the U.S. Here.
With these building blocks set in motion by determined European entrepreneurs and changemakers, we at AngelHack are thrilled to expand our Global Series throughout Western and Eastern Europe!
So what’s the biggest challenge for European startups? Many believe it is scaling. Euro-based entrepreneurs do not have the gargantuan American domestic markets where companies can incubate, nor the world’s most advanced VC ecosystem to access funding options. This makes it harder to emerge onto the world stage once these concepts reach critical mass.
Scaling early stage concepts just happens to be AngelHack’s specialty. The AngelHack Global Series includes hyperlocal hackathons in both up and coming cities as well as established tech hubs in Europe (check our latest confirmed cities). Winners from each city will go through our pre-accelerator program, the HACKcelerator, where they will build momentum through mentorship, a growth-centric curriculum, and the opportunity to t pitch at our Annual Global Demo Day. This is where top tier startup accelerators – including Y-Combinator, TechStars, and 500 Startups – and investors are invited to see what Europe and the rest of the world is capable of. AngelHack is therefore a fast and efficient way to fuel the Silicon Valley experience into the European startup ecosystem.
This is not a one way exchange, though. Wherever we travel, we see something we can learn from and Europe has done so many things better than the rest of us. One European example is from the land of Skype and Spotify, the second most prolific tech hub in the world on a per capita basis, and the most digitally connected economy in the world with 7% of global billion dollar exits.¨
GERMANY:
The rivalry between London and Berlin has served startups in both tech hubs well. Many government programs have emerged to retain the country’s innovators. Berlin is a top global thriving startup hub with a worldwide reputation for online innovation. A McKinsey report estimates that Berlin startups will create over 100,000 jobs by 2020. Source.
IRELAND:
Dublin has positioned itself as one of the most prominent cities in the FinTech, Bitcoin, and the blockchain world today. Source.
BULGARIA:
Bulgaria ranked 4th in Europe in terms of investments made in startups and holds the lowest corporate tax rate in the EU: 10%. The strong tradition in engineering, low salaries, and EU membership = excellent outsourcing opportunity. Challenges still include an ancient bureaucracy, too much administrative details and remnant corruption. Source.
SPAIN:
Barcelona has a high availability of talent and has new tax breaks + government funding after the economic crisis which has sparked positive economic activity. There is a 134% increase in investment activity, but this is still small in overall size relative to other European tech hubs. Most VC funding is coming externally from the US or UK. The two hottest sectors are FinTech and e-commerce. Source.
SWITZERLAND:
Switzerland now boasts a crypto valley ecosystem of Internet entrepreneurs that’s blossoming as fast as the proverbial Edelweiss in spring. For all of the advances, it’s clear that Switzerland has some way to go before it’s the perfect environment though, particularly when it comes to further funding. We will looking forward to see how the situation evolves. Hackzurich, organized by a colleague of mine from ETH Zurich is one of the most prominent Hackathon on the swiss field for now. Source.
UKRAINE:
Lviv , called the “Little Paris” of Eastern Europe, Lviv is definitely an emerging hot spot with 15K IT professionals and 20% predicted annual growth in this IT cluster. Some say that the same way a crisis spawns creativity, the conflicts over the past decade have sparked the entrepreneurial spirit so the youth here want to harness their skills towards very worthy aims. Source.
RUSSIA:
Novosibirsk, called “Russia’s rival to the California tech hub”, this area had an influx of Russia’s greatest minds during the Cold War so they wouldn’t lose their most intelligent people if Moscow was “wiped off the map” through nuclear attack. This city helped earn the following reputation in the sphere of technology: “if you have something tough, give it to the Americans. If you have something impossible, give it to the Russians.”. Furthermore Moscow, did you know entrepreneurship in the Soviet Union was illegal? And now Russia is experiencing a tech “Renaissance”? Source.
IF YOU ARE FROM THESE COUNTRY DO YOU AGREE ON IT? PLEASE COMMENT AND YOU WILL GET A REWARD
Another area where Europe excels and sets an example for us all, is the model for societal good above the individual getting rich. European social welfare is a model for the world, and we are seeing their startups focus heavily on social + eco innovation, the sharing economy and collaborative consumption. As the rest of the world slowly learns that social responsibility is actually very good business, Europe will already be ahead in this game. This year our Global Series is looking for these innovations and has set aside the Code4Impact Award for ideas that utilize technology to spark social or environmental change. We can’t wait to see what our Euro community will create.
To know more about investing in European startups or just catch up for a coffee feel free to comment here or up vote or send me an email to [email protected]. I LOVE SHARING IDEAS AND BRAINSTORM ON IDEAS, STRARTUPS,TRAVEL and LIFE.
Full Acknowledgement of this article and interview results goes to Christina & Mitchell, Europe regional manager at AngelHack (Hacking Europe’s Next Economy).
Credits for the interview's results goes to Christina & Mitchell, Europe regional managers at Angelhack.
Great article, all the best i upvoted ♥
thanks! i will do the same then!
I would have added Romania, due to the very low corporation taxes, especially on small enterprises, and would have added a paragraph about investing in the Canary Islands, due to the ZEC area and the fiscal incentives given, as it's far away from mainland Europe. Apart from this it's a great article!
I loved your infos: Politics student and traveller :)
Romania is actually on my eyes at the moment! I am always checking new startup out here http://www.romanianstartups.com but i don't find it all, i mean the most innovative one.
Secondly i had the opportunity to see this medium article here https://medium.com/@studios/the-startup-scene-in-romania-11-3m-raised-72m-in-exits-in-2016-alone-1c9872bf9512
he Romanian tech ecosystem is growing. Our analysis shows that in Romania 20 startups raised €11.3m in total in 2016. Comparatively 15 deals with a value of €10.7m were concluded in 2015. To put it in perspective, European startups raised €16.2b last year — an increase of 12% in terms of capital and 32% in terms of rounds over the previous year.
For the Canary island is actually great for their fiscal system, i never being physically there.... something that i need to do.
This is crazy right! @borderdge do you have some other links that could be helpful?
Best
Francesco
nomadlist.com is great for seeing which places are friendliest when it comes to being self-employed. Also numbeo gives you a good idea of prices in most countries.
As for Canary Islands, I saw you're from Zurich. I went to Gran Canaria because I found a 19.96 ticket from Zurich actually, so check out Vueling's offers!
thanks @borderedge! I will check out the offers! If you are coming to Switzerland, feel welcome to write me, ok? In the same time let s resteem us
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Hello. I am South-African but would love to move to Europe as soon as I can afford it. Nice post...
Thanks @draco! Now i follow you! If you wanna Skype let me know! It make me happy sharing useful information to this cool steemit community. Let me know upvote you too!
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ok cool! let me understand how does it work :)
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ok cool! thanks. this make sense now! looking forward
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Done @jyoungking2! would be great to have your upvote too :)
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so now what? :)