Accelerating Startups in Europe.

by Elina Zheleva and Max Gurvits at

@ellie_zheleva @mxgurRunway.vc CCCstartups.com

Accelerators BOOM Funding GAP

Culture MEME

BOOM

MEME

GAP

Accelerators Boom

BOOM

How many in Europe?

What is the quality?

Time

Ratio of accelerators to startups is higher in Europe

Scales by Freepik CC BY 3.0

Performance metrics

Incapability to help startups scale.

Scale progress by Freepik CC BY 3.0

Not able to connect startups to follow-on investors.

Coin stacks by Icons8 CC BY 3.0

Very low number of exits.

Double door & Exit by Freepik CC BY 3.0

But when success hits, it’s good ROI for investors.

Success by Freepik CC BY 3.0

EUROPEAN EXITS ARE 25% SMALLER, BUT...

ENTRY VALUATIONS ARE 3,4X LOWER

with only ⅕ of VC $

½ as many exits as US

Success stories from Europe

$131M$71M

$18M

Top3 accelerators by follow-on $

Top1 accelerator by #exits

Other accelerators with exits

The good and the evil

Competition among accelerators improves quality.

Winners’ podium by Freepik CC BY 3.0

Champion entrepreneurship as a desirable lifestyle.

Businessman w/ speaker by Freepik CC BY 3.0

Increase global community links & learning opportunities.

Connected world by Freepik CC BY 3.0

Create a culture of accelerator hopping.

Kangaroo by Freepik CC BY 3.0

Risks & benefits

Risks:○ Lack of company building experience○ Lost in translation○ Fear of getting real

Bomb by Freepik CC BY 3.0

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

Funding Gap

GAP

Handshake by Freepik CC BY 3.0

No. of early-stage deals going up 6x faster than US.

Money bag by Freepik CC BY 3.0

Early-stage median investment going down.

Israel0.7

Median seed investment in Europe lower than global.

US0.5

China0.4

Europe0.3

Money bag by Freepik CC BY 3.0

Market gap

Culture Memes

MEME

Study to get wired or to get hired

Creating Jobs vs creating jobs

Thinking big vs thinking small

Bullish on Europe

See You in Europe!Elina Zheleva and Max Gurvits

@ellie_zheleva @mxgurRunway.vc CCCstartups.com

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