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Why is Europe the best place to build right now?

There’s an old saying, “never let a crisis go to waste” and in the world of startups, that’s more relevant than ever.

Antler, the early-stage VC, recently dug into why Europe has struggled to match the U.S. in churning out tech unicorns.

What did they find? Europe’s tech founders are on the rise, and they’re changing the game in a big way.

Let’s dig in.

Why are technical founders the secret sauce?

Building a tech unicorn is no small feat—building a tech giant is even harder. But there’s a secret sauce: technical founders. These are the folks who don’t just dream big—they solve massive, complex problems with technology. And the data backs it up: tech giants are more likely to be built by founders with serious technical chops.

Europe’s unicorns are multiplying

Here’s some exciting news: Europe’s unicorn herd is growing. Even better, more than half of the founders behind these new unicorns in 2023 and 2024 have technical backgrounds. It’s not just quantity—it’s quality.

Founders from all corners of Europe

We’re seeing a fascinating shift in the nationalities of Europe’s tech founders. While the UK has long been a breeding ground for tech talent, we’re now seeing more founders emerging from France, Germany, the Netherlands, and Denmark. Europe is becoming a melting pot of tech innovation.

The tech founder boom

Between 2021 and 2023, the number of aspiring tech founders in Europe skyrocketed by a jaw-dropping 300%. Antler’s data shows an 8x increase in founders with AI and data backgrounds and a 4x increase in engineering and product experts. The talent pool is deepening, and it’s all about tech.

Layoffs fueling the startup surge

Here’s an unexpected twist: the wave of tech layoffs in Europe—over 85,000 from companies like Gorillas, Klarna, and Deliveroo—has turned out to be a catalyst for startup growth. Antler saw a 3.5x surge in applications from ex-employees of these companies, with an 825% jump in technical founders. When one door closes, another opens—straight into the startup world.

Take Mistral AI, for example. Founded in 2023 by former DeepMind and Meta employees, this French AI company is already valued at $6.2 billion. It’s proof that Europe’s tech talent is not just surviving but thriving.

AI is shaping up to be the next big thing, and we’re just scratching the surface of what’s possible. The teams building around AI today are set to achieve incredible things.

To wrap it up, Europe is ready to compete—and maybe even outshine—the global tech giants across the pond. The stage is set, the talent is here, and the future looks incredibly bright.

STARTUP NEWS RADAR 📡

_{What’s happening these days?}

• Join the webinar ‘Insights & Pitfalls to Avoid When Launching a U.S. Company’ with Mark Milastsivy, happening online today. [source]

• Grab your seat to a masterclass on AI transforming the workplace by Brainster is taking place on August 19. [source] 🔥

• Airbnb is planning new products and services, including co-hosting, the relaunch of experiences, and more. [source]

• The European Union's AI Act officially takes effect on August 1, 2024. [source]

• Figure, the AI company specializing in hardware robotics presents its latest and most powerful model, Figure 02, powered by OpenAI and capable of handling autonomous tasks in manufacturing, logistics, and retail. [source]

THE STARTUP VAULT 🗃️

_{Founders take note:}

• Use SuperMemory as your second brain for all digitally saved stuff.

• Dezyn turns your diagrams into interactive experiences.

• Leverage Reclaim as a smart AI calendar for work and life.

• Dealing with negative comments when starting a startup by Brainster’s Founder Petar Ninovski.

• Inside the kombucha innovation - a podcast by HalkBank AD Skopje w/Angelina from BioHide 🎧

• Are you curious how deep your understanding of curiosity goes? Take this curiosity quiz by Matthew Murrie.

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