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Accelerating Startups in Europe. What's different?

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Europe has over 200 accelerator programs, the vast majority of which are corporate or government-backed. Since these programs were created in 2011 and 2012, they have yielded thousands of accelerated startups, a small but growing number of which emerge as global success stories. Despite comparatively low success rates and very modest investor returns, these programs have been instrumental in connecting the fragmented European startup communities into the wider global technology ecosystem. With leading US investors like USV, YCombinator, and 500 startups engaging more and more with European teams, this SXSW session analyzed the benefits and risks of working with and investing in accelerated startups from Europe, as well as discuss the opportunities for experienced US founders and operators to benefit from the European tech boom.

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Accelerating Startups in Europe. What's different?

  1. Accelerating Startups in Europe. by Elina Zheleva and Max Gurvits at @ellie_zheleva @mxgur Runway.vc CCCstartups.com
  2. Accelerators BOOM Funding GAP Culture MEME
  3. BOOM MEME GAP
  4. Accelerators Boom BOOM
  5. How many in Europe?
  6. What is the quality?
  7. Time
  8. Ratio of accelerators to startups is higher in Europe Scales by Freepik CC BY 3.0
  9. Performance metrics
  10. Incapability to help startups scale. Scale progress by Freepik CC BY 3.0
  11. Not able to connect startups to follow-on investors. Coin stacks by Icons8 CC BY 3.0
  12. Very low number of exits. Double door & Exit by Freepik CC BY 3.0
  13. But when success hits, it’s good ROI for investors. Success by Freepik CC BY 3.0
  14. EUROPEAN EXITS ARE 25% SMALLER, BUT... ENTRY VALUATIONS ARE 3,4X LOWER
  15. with only ⅕ of VC $ ½ as many exits as US
  16. Success stories from Europe
  17. $131M $71M $18M Top3 accelerators by follow-on $
  18. Top1 accelerator by #exits
  19. Other accelerators with exits
  20. The good and the evil
  21. Competition among accelerators improves quality. Winners’ podium by Freepik CC BY 3.0
  22. Champion entrepreneurship as a desirable lifestyle. Businessman w/ speaker by Freepik CC BY 3.0
  23. Increase global community links & learning opportunities. Connected world by Freepik CC BY 3.0
  24. Create a culture of accelerator hopping. Kangaroo by Freepik CC BY 3.0
  25. Risks & benefits
  26. Risks: ○ Lack of company building experience ○ Lost in translation ○ Fear of getting real Bomb by Freepik CC BY 3.0
  27. Benefits: ○ Low cost of experimenting and learning ○ Generally high technical prowess ○ Low entry valuations vs. comparative exit valuations Gift by Freepik CC BY 3.0
  28. Funding Gap GAP
  29. Handshake by Freepik CC BY 3.0 No. of early-stage deals going up 6x faster than US.
  30. Money bag by Freepik CC BY 3.0 Early-stage median investment going down.
  31. Israel 0.7 Median seed investment in Europe lower than global. US 0.5 China 0.4 Europe 0.3 Money bag by Freepik CC BY 3.0
  32. Market gap
  33. Culture Memes MEME
  34. Study to get wired or to get hired
  35. Creating Jobs vs creating jobs
  36. Thinking big vs thinking small
  37. Bullish on Europe
  38. See You in Europe! Elina Zheleva and Max Gurvits @ellie_zheleva @mxgur Runway.vc CCCstartups.com
  39. Photo credits: ● Europе map by Charles Clegg ● Quality seeds by Christopher Dombres ● Clock by Paupsers ● Hanging rulers by Nic McPhee ● Balancing on bike by followtheseinstructions ● Crossroads: success & failure by Chris Potter ● Good or Evil by Matt Reinbold ● Swim at your own risk by Tim Fau ● Market gap (OpenStreetMap GPS bulk data map of Europe) by Steven Kay ● Hire me, graduation by Benson Kalahar ● Steve Jobs by tenz1225 ● Ford vs Smart by Sivi Steys ● Bull’s head, Picasso sculpture by Lars Wästfelt
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Europe has over 200 accelerator programs, the vast majority of which are corporate or government-backed. Since these programs were created in 2011 and 2012, they have yielded thousands of accelerated startups, a small but growing number of which emerge as global success stories. Despite comparatively low success rates and very modest investor returns, these programs have been instrumental in connecting the fragmented European startup communities into the wider global technology ecosystem. With leading US investors like USV, YCombinator, and 500 startups engaging more and more with European teams, this SXSW session analyzed the benefits and risks of working with and investing in accelerated startups from Europe, as well as discuss the opportunities for experienced US founders and operators to benefit from the European tech boom.

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