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Digital Venice - July 8th, 2014 Workshop: Startup Europe! The European Startup Ecosystem A quick look at the stats by Jessica Stacey
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Workshop: “Startup Europe!”
Jessica Stacey, Nesta
Digital Venice, 08 July 2014
The European Startup Ecosystem A quick look at the stats
Contents
1. The big picture
2. Show me the money
3. Nurturing, networks and support
4. The wider ecosystem
1. The big picture What we know about digital startups
High growth firms maHer
Source: Vital Growth (NESTA, 2011), based on the ONS Business Structure Database
2002-‐05 2005-‐08 2007-‐10
Firms New jobs
Job crea)on by exis)ng UK businesses
Firms New jobs Firms New jobs
New enterprise creaVons
Source: OECD, Entrepreneurship at a Glance, 2013
50
60
70
80
90
100
110
120
130
140
Norway Netherlands Russian Federation Spain Sweden United Kingdom United States
50
60
70
80
90
100
110
120
130
140
Australia Belgium Denmark Finland Germany Italy
90 110 130 150 170 190
France
UK
Sweden
Norway US
Russian FederaVon
Spain
Australia
Belgium
Denmark
Italy Germany Finland
InnovaVon in digital tech is reaching a Vpping point Digital technologies accounted for more than 21% of GDP growth in the world’s most advanced economies in the past five years.1 Europe’s digital economy is expected to grow seven Vmes faster than overall EU GDP in coming years. 2 The Boston ConsulVng Group esVmates that the digital economy will contribute a total of $4.2 trillion to the G20’s total GDP by 2016, which means that if the Internet were a naVonal economy, it would rank in the world’s top five, behind only the US, China, Japan and India – and ahead of Germany.
1 MaHhieu Pélissié du Rausas et al., Internet MaHers: The Net’s Sweeping Impact on Growth, Jobs, and Prosperity (San Francisco, McKinsey Global InsVtute, 2011). 2 European Commission, Copyright: Commission Urges Industry to Deliver InnovaVve SoluVons for Greater Access to Online Content, IP/12/1394 (Brussels: European Commission, 2012).
European ICT Poles of Excellence
Source: European Commission JRC-‐IPTS
2. Show me the money The funding environment in Europe
The three main areas of early stage investment in Europe
Source: EBAN: StaVsVcs Compendium 2014
European VC investment conVnues to lag the US as a share of GDP
0
0.002
0.004
0.006
0.008
0.01
0.012
0.014
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
VC investment as a share of GDP UK US CE
Crowdfunding -‐ it’s big business...
$2.7 Billion $945 Million
...and it is taking off in the Europe
Raised in Europe through crowdfunding in 2012
Raised globally through crowdfunding in 2012
Source: MassoluVon 2012 figures
$2.7bn in 2012, predicted to have almost doubled in 2013
Source: MassoluVon
3. Nurturing, networks & support The rise of incubaVon for early stage ventures
Growth of accelerator programmes
15
• 53 programmes in Europe • 703 companies accelerated • 2034 jobs created Source: www.seed-‐db.com, March 2014
www.startupfactories.eu
Accelerator and Incubator Ecosystem in Europe, 2012, Telefonica
4. The wider ecosystem The impact of big corporates, universiVes and public policy
18
More corporate accelerators
More corporates involved in VC
Entrepreneurship & innovaVon in UniversiVes
Source: Graham (2014), CreaVng University Based Entrepreneurial Ecosystems, MIT Skoltech IniVaVve
Public policy
Procurement Investment incenVves
Digital single market EducaVon
• Atlan)c Dri7, 2011, Nesta, hHp://bit.ly/1r4Wh18 • Crowdfunding Industry Report, 2012, MassoluVon, hHp://bit.ly/1maVnj5 • European Commission, Copyright: Commission Urges Industry to Deliver Innova)ve Solu)ons for Greater
Access to Online Content, IP/12/1394 (Brussels: European Commission, 2012). • European Digital Forum, hHp://www.europeandigitalforum.eu • Graham, R., Crea)ng University Based Entrepreneurial Ecosystems, (MIT Skoltech IniVaVve , 2014). • Mapping the European ICT Poles of Excellence, 2014, European Commission JRC-‐IPTS, hHp://bit.ly/Rlw0yZ • MaHhieu Pélissié du Rausas et al., Internet MaMers: The Net’s Sweeping Impact on Growth, Jobs, and
Prosperity (San Francisco, McKinsey Global InsVtute, 2011). • OECD Entrepreneurship at a Glance, 2014, hHp://bit.ly/1Va9sS • Startup Europe Partnship, hHp://startupeuropepartnership.eu • Startup Factories, Nesta, hHp://www.startupfactories.eu • Startup Manifesto, hHp://startupmanifesto.eu • Sta)s)cs compendium 2014, EBAN, hHp://bit.ly/U0aCQt • The Accelerator and Incubator Ecosystem in Europe, 2013, Telefonica, hHp://bit.ly/1rKXHAr • The European Seed Accelerator Ecosystem, 2014, Jed ChrisVansen, hHp://bit.ly/1qQAwV2 • The Rise of Corpora)ons in Tech Venture Capital Investment, 2013, CB Insights, hHp://bit.ly/1qFViFf • Unchaining Investment, 2013 Nesta, hHp://bit.ly/1lPO6A6 • Vital Growth, 2011, Nesta, hHp://bit.ly/1pWcx7j
References
[email protected] @JessStacey
www.nesta.org.uk