Employment in Amsterdam’s tech sceneReport commissioned & supported by:
November, 2017
Dealroom helps corporations, investment firms and governments to track innovative companies and identify
strategic opportunities, through data-driven software
Contents
1. Introduction
2. Headline employment data
3. Employment growth
About this report
4
Introduction
▪ Amsterdam rapidly became a top-tier tech hub in Europe. The city is home to world-class tech companies such as Adyen, Takeaway.com, Booking.com, TomTom and rising stars like Picnic, MessageBird and Bux
▪ Leading global tech companies have made Amsterdam their European HQ such as: Uber, Netflix, Tesla
▪ What’s the impact on the overall Amsterdam job market? How many people work at startups, scaleups, and other tech companies in Amsterdam?
Data
▪ This report is prepared by Dealroom and commissioned by StartupAmsterdam, who also provided hands-on support with data and data-cleaning
▪ A bottom-up approach (company-by-company) was applied by using Dealroom’s own database as foundation, with additional desktop research
▪ StartupAmsterdam provided valuable input and made supporting data available
Scope
▪ This report focuses exclusively on tech-centric companies in Amsterdam, Schiphol Airport and Amsterdam Zuid-Oost, between 2015 to 2017
▪ Included are startups (2-50 people), scaleups (51-500 people), grownups (500+) and foreign tech companies with significant presence in Amsterdam
▪ Excluded are companies with one employee. Not counted are tech jobs at multinational companies (Shell, Philips, ING…)
Feedback
▪ Most of the data used in this report is available for free via he Amsterdam Startupmap, a crowd-sourced & free resource, powered by Dealroom
▪ Dealroom anticipates doing recurring updates of this study to monitor the evolution of Amsterdam’s tech ecosystem
▪ Feedback or questions on this report are encouraged, via [email protected]. Finally, please feel free to share this report!
Tech is a major driver of job growth & other insights
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▪ Insight #1: About 60K people work at 1,052 tech companies in Amsterdam, thus representing 11% of the total 527K job market in Amsterdam (1)
▪ Insight #2: 756 companies were identified as startups (2-50 people), 263 as scaleups (51-500 people), and 33 as grownups (500+ people)
▪ Insight #3: Booking.com, TomTom and Adyen together employ nearly 6K people in Amsterdam. The 30 largest home-grown companies represent 16K jobs (= 48% of home-grown jobs and 26% of total jobs)
▪ Insight #4: 859 companies are home-grown, representing 55% of all 60K jobs, while 184 companies are major foreign tech companies with presence in Amsterdam (Uber, Netflix, ….) representing 45% of jobs
▪ Insight #5: The main job growth drivers are home-grown startups & scaleups, growing jobs by 13% per year between 2015 and 2017, and foreign tech companies growing jobs by another 9% per year (2)
▪ Insight #6: Over 10K jobs were added in two years, making tech a major driver of job growth, matched only by the hospitality sector (restaurants, bars, hotels), well ahead of finance and other major sectors
▪ Insight #7: Venture capital investment activity in Amsterdam has tripled in the past four years. At least 288 startups & scaleups in Amsterdam are backed by venture capital funds
▪ Insight #8: Venture capital has a visible positive impact on job growth. In 2016 Dutch VCs raised records amounts of capital which is now available to be invested in future rounds
Source: Dealroom.co custom research. Numbers should be treated as indicative estimates. Exact numbers are provided for transparency & reconciliation.1. City of Amsterdam’s ARRA database.2. Foreign tech company data based on ARRA numbers spanning years 2011 to 2016.
Job market
Composition
Growth
Venture capital
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6
Contents
1. Introduction
2. Headline employment data
3. Employment growth
Over 60K jobs at tech companies in Amsterdam, of
which more than 55% jobs at home-grown companies
Source: Dealroom.co custom research, City of Amsterdam. Numbers should be treated as indicative estimates. Exact numbers are provided for transparency & reconciliation.1. Indicative estimates only. For more info see https://app.dealroom.co/lists/public/companies/10586 or https://startupmap.iamsterdam.com/lists/public/companies/10586
8
Local tech giants
(grownups)
Startups &
scaleups
Selected finance &
media companies
Foreign tech
companies (1) Multinationals Total jobs
Tech companies with >500
employees and HQ in Amsterdam
Tech-centric companies with
2-500 employees and HQ in
Amsterdam
Predominantly tech-driven sectors:
media, financial trading
Foreign tech companies with a
major presence in Amsterdam
Multinational corporations with HQ
in Amsterdam and major tech teams
Companies include:
Booking, TomTom, Adyen
856 companies including:
MessageBird, Picnic, Bux,
Ticketswap
Nine identified companies
including: Euronext, Flow
Traders, TMG, Binck
184 companies including:
Uber, Netflix, Tesla, Amazon,
Dell, Microsoft
Includes companies such as:
Shell, ING, ABN AMRO,
Philips, Randstad
5,628 22,171 5,342 27,123 n.a. = 60,264People:
5,628
27,799
33,141
60,264 -- 60,264
1,052 tech companies identified: startups, scaleups,
foreign tech majors and tech-heavy media & finance
9
Source: Dealroom.co and LinkedIn.Startups = home-grown tech companies with 2-50 people. Scaleups = home-grown tech companies with 51-500 people and foreign tech companies with 2-200 people.Grownups = home-grown tech companies more than 500 people and foreign tech companies with more than 8 people.1. Source: City of Amsterdam’s ARRA database.
Home-grown tech companies
Foreign tech companies in Amsterdam
Selected (tech-focused) media & finance
Total
Companies Jobs Companies Jobs Companies Jobs Companies Jobs
2-10 people 445 2,164 14 140 – – 459 2,304
11-50 people 311 6,954 101 2,337 – – 412 9,291
51-200 people 84 8,329 45 4,516 – – 129 12,845
201-500 people 16 4,723 15 5,333 3 845 34 10,901
More than 500 3 5,628 9 14,797 6 4,497 18 24,922
Total 859 27,799 184 27,123 9 5,342 1,052 60,264
Startups 756 9,118 756 9,118
Scaleups 100 13,052 160 6,993 3 845 263 20,890
Grownups 3 5,628 24 20,130 6 4,497 33 30,255
Total 859 27,799 184 27,123 9 5,342 1,052 60,264
Total Amsterdam (1) 114,000 527,000
% of total Amsterdam 0.9% 11%
60K jobs in tech represents roughly 11% of the total
Amsterdam job market of 527K jobs (1)
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1. City of Amsterdam’s ARRA database.Note: according to ARRA’s defition of “ICT” sector, there are 58,692 jobs in Amsterdam as of 2017. This includes sectors not included in Dealroom’s defition of tech (e.g. traditional telecom) and excludes some new data on emerging startups and scaleups.
65K
60K
46K
37K
28K 27K
Creative industries Technology Finance Restaurants, bars &hotels
Rental & other B2Bservices
Retail
Technology jobs relative to other major sectors in Amsterdam, 2017 (1)
Concentration: the 30 largest home-grown tech
companies represent 48% of local employment
11Source: Dealroom.co custom research, City of Amsterdam.
Grownups
Startups & scaleups
Media & finance
People
Contents
1. Introduction
2. Headline employment data
3. Employment growth
5K 5K
17K
23K
5K 5K
19K
25K
5K 6K
22K
27K
0K
5K
10K
15K
20K
25K
30K
Finance & media companies Local tech giants Startups & Scaleups Foreign tech
2015 2016 2017
Home-grown startups & scaleups grew employment
by 13% and foreign tech companies by another 9%
13Source: Dealroom.co custom research, City of Amsterdam.1. Source: City of Amsterdam (ARRA data). Based on ARRA numbers spanning years 2011 to 2016.
+4% per year
People
+6% per year
+13% per year
+9% per year
0.4K jobs added 0.6K jobs added 5K jobs added 4K jobs added
Over 10K jobs were added in two years, making tech
a major driver of job growth in Amsterdam
14Source: Dealroom.co custom research, City of Amsterdam.1. Source: City of Amsterdam (ARRA data).
+10K
+10K
+8K
+7K
+4K
+3K
Restaurants, bars & hotels
Technology
Creative industries
Rental & other B2B services
Finance
Retail
Net jobs added between 2015 and 2017
445
311
84
16
3
– 100 200 300 400 500
2-10
11-50
51-200
201-500
501+
Most startups & scaleups are size 2-50 people, while
most people are employed by 11-200 size companies
15Source: Dealroom.co custom research, City of Amsterdam.
Number of companies
Team
siz
e
Number of jobs
Most companies have a team size of 2-50 people
2,164
6,954
8,329
4,723
5,628
– 2,000 4,000 6,000 8,000 10,000
2-10
11-50
51-200
201-500
501+
Companies size 11-200 employ
the most people (15K)
Predominant industries: enterprise software, fintech,
education, travel, transportation and medical
161. Selected top categories based on Dealroom methodology. Includes home-grown startups & scaleups only. Companies can be in more than one category. Source: Dealroom.co.
Number of companies (1) Number of jobs (1)
214
110
73
72
47
45
42
33
33
31
21
– 50 100 150 200 250
Enterprise software
Fintech
Education
Travel
Transportation
Medical
Cleantech
Jobs recruitment
Fashion
Food
Hosting
5,585
4,968
3,763
1,680
969
848
796
760
725
498
484
– 1,000 2,000 3,000 4,000 5,000 6,000
Travel
Fintech
Enterprise software
Transportation
Cleantech
Food
Hosting
Education
Medical
Jobs recruitment
Fashion
Increased venture capital investment activity in
Amsterdam has had a positive impact on job growth
17Source: Dealroom.co.
6 12 27
108 122
Seed Series A Series B Series C Acquisition
Increased VC investment activity …
29
59
74
107104
2012 2013 2014 2015 2016
Biggest jump in
team size after
series C
15 36
65
114 126
231
€0M €2M €5M €10M €20M €50M
€2M €5M €10M €20M €50M & more
… resulting in bigger startup & scaleup teams
Venture capital investment
activity in Amsterdam has
grown over 3x in past four
years
Number of VC rounds
Team size by total funding stage
Team size by total funding amount
Click to open the Amsterdam Startupmap
Most of the data used in this report is available via the
Amsterdam Startupmap, a crowd-sourced & free resource, powered by
Dealroom