Will Europe Ever Match The US For Startup Investment And Growth?

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European Startups,European Venture,Europe Vs US For Startups

I’ve spent the last 20 years working in the technology sector as a founder, advisor, board member, and investor. As a Founding Partner of Concentric, the London & Copenhagen-based venture capital firm, I work with early-stage tech businesses (Seed through Series B) to support their development and accelerate growth.

“Europe is less hard-working, less ambitious, more regulated, and more risk-averse than the US, with the gap between the two continents only getting wider.”with the Financial Times in April. As one of the largest single investors in the world, with increasing holdings in the US compared to Europe, Tangen’s views matter.

But at the same time, many of the stereotypes are unfair. For example, Tangen’s point about the US having the hardest workers doesn’t necessarily chime with reality, with figures showing that workers in Eastern Europe actuallyand other regions are allegedly more efficient.

A big factor in this is that Europe has a history or “track record” of missing out on major technological developments, including the PC, software, and internet waves, putting it in a weakened position for developing critical transversal technologies.

Funding is another significant challenge, with private capital much more limited and cautious here than in the US. In Europe, government agencies are the biggest contributor to venture capital, contributingin 2023, according to Invest Europe. These funds may have different criteria to their US LP counterparts, such as pure R&D, regional development, youth employment, or primary sector focus.

In the meantime, we must maximise the huge strengths and potential that we do have, while continuing to fully explore the opportunities for investment, partnership, and growth that lie across the Atlantic. As a European venture investor, the US will always be vital for our portfolio companies’ expansion, for relationships with LPs and corporates, and for making connections with co-investors, executives, opinion leaders, and bankers. We are strongest when we work together.

 

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