Wanted: entrepreneurial role models for the Dutch tech ecosystem.
It's somewhat like the King's Speech for innovative Netherlands, The State of Dutch Tech. With a speech from the Prime Minister and a lot of figures about innovation and investment in the Netherlands, the country receives a sort of report card on the state of tech in the nation.
Two figures tell the story. -35 and 3.1. Let's start with the good news: the 3.1 stands for the 3.1 billion euros that were invested in tech in the Netherlands last year. That's a lot - among the European top four - and unlike in other countries, a higher amount than in previous years. So far, so good.
But then the -35. That is the alarming 35% drop in the number of Dutch startups that raised more than €100,000. We can read two things into this. Firstly, that the money is increasingly going to scale-ups that are in a further stage of growth, and therefore less risk is being taken in the early stage. This is dangerous because the companies that reach the top are a direct function of the number of enterprises at the base. Less early stage thus equals fewer success stories.
Secondly, it may say something about the entrepreneurial climate in which fewer people are simply taking the step to start an innovative company. That is perhaps even more concerning, as after a few years of growing entrepreneurship (young talent) now more often chooses a different path. This decline in entrepreneurship is not good news, especially now that tech is increasingly becoming the focus of a geopolitical power play between the US, Europe, and the Asian powers.
Help us accelerate, one of the speakers therefore asked, because the US and Asia are going all in - so ask yourself what you can do to help.
Well! By investing in tech companies, either as an angel investor or through one or more funds, you contribute to a healthy Europe-wide ecosystem for growth and venture capital.
That's already a nice step. However, money is not the only issue. During the day, there was a lot of talk about cultural change: in the Netherlands (and in Europe), we could dare a bit more. Dare to undertake, dare to fail, dare to look beyond the barriers to start successful companies.
To stimulate entrepreneurship, role models are very indispensable: successful entrepreneurs should show themselves a bit more to inspire the next generation, everyone at The State of Dutch Tech agreed on that. And one more thing: the Chief Executive of the European Investment Fund also advocated for private investments in private markets.
Marjut Falkstedt said that an investment category like venture capital is indeed relatively volatile, but with proper diversification, good returns can be achieved. And that is precisely the fundamental proposition behind the venture funds of Marktlink Capital.
The entire report by Techleap on The State of Dutch Tech can be read here.
