Amsterdam’s startup ecosystem is worth billions
A new funding report from Dealroom has named Amsterdam as Europe’s #3 ecosystem in terms of the total value of tech companies founded in the city since 2000. The worth of the local ecosystem has risen to €73 billion from just €10 billion in 2015, primarily due to the skyrocketing values of Adyen and Takeaway.com.
According to Dealroom, Amsterdam is “punching above its weight” when it comes to the performance of local startups, allowing it to closely follow London and Berlin in the ranking. Additionally, one of the city’s top startups, Mollie, just received €90 million in funding and is now worth over €1 billion in total.
The Dutch capital is a home for entrepreneurs
A destination for entrepreneurs, Amsterdam has a healthy startup pipeline and is home to more than 2,700 young companies at different stages of growth. The capital’s startup ecosystem is also more concentrated than that of other cities, though lower rates of investment and a lack of businesses that are likely to become unicorns present challenges.
Attracting investors in later funding rounds has proven particularly difficult, though there is a high level of support from local investors. However, there is still much work to be done to garner international attention on the same level seen in other leading tech hubs, including Stockholm and Tel Aviv.
Staying resilient despite the pandemic
Despite the issues resulting from the coronavirus (COVID-19) outbreak, venture capital investment is still taking place and closely aligns with that seen in previous years. In 2019, the city saw record levels of investment, largely thanks to the €250 million collected by Picnic.
This year, startups centred on health and EdTech are doing particularly well, and if local companies can access significant late-stage and international funding, continued growth is likely.
For further information and insights, read the report from Dealroom or read more startup news from around Amsterdam.