Eurada News nº390 - July 2019

STARTUP HEATMAP EUROPE: a European startup initiative

Startups and scaleups are drivers of economic growth and create many jobs within the European Union. STARTUP HEATMAP EUROPE helps SMEs to map the perceived quality of startup hubs in Europe, showing where startup founders in Europe are from and which places they consider best to startup.

Over recent years, the Commission has proposed a number of policies, such as the Capital Markets Union, the Single Market Strategy, and the Digital Single Market to benefit start-ups in Europe. Together with Member States’ actions, this has led to the creation of a number of market leaders, such as Spotify, Klarna, Adyen, Blockchain, Jobandtalent, N26, Algolia, Intercom, Cabify or Deliveroo.

The Initiative addresses three main obstacles to starting up and scaling up in Europe:

  • Access to finance is the biggest problem for entrepreneurs whether starting up or scaling up;
  • Complying with regulatory and administrative requirements diverts too much energy from growing the business – particularly cross border;
  • Connecting to right business partners, markets and skilled workers, despite the availability of 500 million people European Single Market is still too difficult. 

There is no lack of innovative ideas and entrepreneurial spirit in Europe. But many new firms don’t make it beyond the critical first few years, or they try their luck in a third country instead of tapping into the EU’s potential 500 million customer base. The European Commission is determined to change that and help start-ups deliver their full innovation and job creation potential.

Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Today’s local start-ups could become tomorrow’s global success stories. We want to help start-ups stay and grow in Europe. By helping them navigate the – often perceived – regulatory barriers to fully benefiting from the Single Market. By making it easier for them to have a second chance, without being stigmatised if their idea doesn’t succeed the first time around. And by improving access to funding by boosting private venture capital investment.”

Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: “Today start-ups do not fully take advantage of the opportunities of the Single Market. Starting and scaling up a company across Europe has to become simpler. Europe needs to become the first choice place for great business ideas to grow into successful companies. This is about new jobs, innovation and competitiveness for Europe.” 

STARTUP HEATMAP EUROPE helps SMEs to map the perceived quality of startup hubs in Europe, showing where startup founders in Europe are from and which places they consider best to startup. Startup Heatmap is using research to draw a map of Europe showing that the startup phenomenon does not only happen in the biggest cities.

Startup Heatmap Europe is the benchmark report on the attractiveness of startup hubs in Europe. The project is mapping cities’ perceived attractiveness and patterns of startup location choices to provide data on challenges and opportunities within the ongoing evolution of Europe’s startup ecosystem.

The tool consists of an interactive map where you can easily view, search, and compare information about business environments in European cities, as well as of a report about the state of play of the business environment in cities across the EU. You can access the tool through following this link: https://www.startupheatmap.eu/analytics/

The collected data helps to build awareness of the potentials of Startup Europe, provides a reference for startup hotspots to compare against other cities in Europe and orientation to investors, startups and people interested in joining a startup.

It also uncovers the realities of Europe’s startup ecosystem outside the political window dressing helping to guide decision makers as well as members of the community in taking action to make Europe an even better place to start a company.

If you know any entrepreneur, investor or any other startup-related professional, please share the link for their survey: http://survey.startupheatmap.eu/. The more you share this link in your social media channels, the bigger the chance your region will be on the map.

In case your organization would like to become an official multiplier of their survey and get additional benefits, please refer to http://www.startupheatmap.com/become-a-multiplier/

Written by Mátyás Tálas, EU Project Officer at EURADA
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