New report states 2018 was a hot year for European scale-ups
The report reviews investments in high-growth tech companies and scale-ups in 35 European countries.
Amount invested in scale-ups across the continent grows steadily
According to the 2018 European Scale Up Report, published by Antwerp Management School and Sirris (a non-profit organisation supporting the Belgian tech industry), 2018 was "another great year" for the scale-up ecosystem. Though the number of investments was only marginally higher than 2017, the amount of money invested increased by 13 per cent. IPOs and ICOs, however, fell by nearly half compared to the previous year. In total, 34 funding rounds worth at least €100 million took place in Europe throughout 2018.
A strong year for the Netherlands
The report revealed that 2018 was a year of excellent growth for the Netherlands. Adyen and Elastic held successful IPOs (with Adyen's being Europe's largest) and the country's scale-ups raised over €1.7 billion during the year. In the rankings, the Netherlands took third place in 'Emerging Category: Smart Cities', which includes startups focused on things like autonomous vehicles, urban farming, and waste management. It claimed seventh place in the 'Fintech', 'HealthTech', and 'Precision Health/Medicine' categories. The Netherlands also placed within the top 10 positions in various other categories, including 'Digital Clean Tech', 'Smart Building', 'Digital Workplace', 'Smart Farm', and 'Industry 4.0'.
One of the best cities for scale-ups
Thanks to the number of deals made and the amount of money raised, Amsterdam was named Europe's sixth-best city for scale-ups. The city is also one of Europe's biggest tech hubs and home to 59 per cent of Dutch scale-ups. During 2018, 29 per cent of scale-ups across the continent graduated from an accelerator programme, including those found in Amsterdam, such as Startupbootcamp, ImpactHub and Rockstart.
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