Dealroom+规模城市-早期创业的生态系统网络效应

Scale

CitiesEcosystem

networkeffects

forearly-stage

entrepreneurshipMarch2023Alliance

MembersWeareexcitedto

launchthesecondeditionofthisreportseriesincollaborationbetweenDealroomandtheStartupCityAllianceEurope(SCALE).Withthisinnovativeplatform,wehopetoimprovetheavailabilityandefficiencyofdataamongstourstartupcities,byusingthemaptoidentifydirectcomparisonsandfurtherexploreandunleashthepotentialsofourneighboursonthecontinent.Page

/2What

are

the

Scale

Cities?SCALE

(Startup

Cities

Alliance

Europe)

is

a

collaborativeforce

of

European

cities,

represented

by

their

publicecosystem

builders,

who

work

together

to

facilitate,strengthen

and

connect

the

European

startup

ecosystem

forentrepreneurs.Alliance

member

citiesAmsterdamAntwerpBarcelonaBerlinLisbonMadridMunichPortoCologneHamburgHelsinkiStockholmViennaDiscoverAllSource:Dealroom.coPage

/3February2023Key

TakeawaysScale

Cities

startup

ecosystem

isnow

worth

over

€764B.Scale

Cities

spinouts

have

raised

overa

quarter

of

the

VC

funding

forEuropean

spinouts

in

2022.9k+

new

startups

have

been

foundedacross

the

Scale

Cities

over

the

past

5years.TheScaleCitiesstartupecosystemhavebeenconsistentlygrowinginvalueandregionalinfluenceoverthepast

decadefeaturingover

26K

verified

startups.ScaleCitiesspinoutsareworth

a

combined€26B

andsupportover40k

jobs

acrossthe13alliancecities.StartupsacrosstheScaleCitiesarebenefitingfromincreasedfundingandqualityofearlystage

supportmechanisms,talentinterconnectivityandincreasedinvestmentfromnon-VCbackedfunds.Thesestartupscurrentlyprovideover1.3M+

jobs

acrosstheregion.VCinvestmentintoScaleCitiesspinoutsisontrackto

becomethesecondbestyearonrecordintermsofinvestmentattracted

–at€1.4B

for2022.Page

/41

The

Scale

Cities2

Capital3

Universities4

TheSnowballEffectA

MethodologyThe

Scale

Cities

startup

ecosystems

makes

up

almost

a

quarter

ofEuropean

startup

value

-

they

now

represent

over

€764B

in

value.Scale

Cities

Combined

Enterprise

Value»view

moreEuropean

Combined

Enterprise

Value»view

more€4T€3T€2T€1T€893B€3.5T€3.1T€800B€764B€2.5T€600B€400B€200B€565B€406B€1.5T€1.1T€308B€1T2018201920202021202220182019202020212022Page

/6

Source:Dealroom.co.DataasofFebruary2023.More

important

than

ever

-

the

Scale

Cities

represent

26K

startups,supporting

1.3M

jobs

globally.Number

of

Active

Verified

Scale

Cities

Startups»view

moreVC

Jobs

created

by

Scale

Cities-based

startups

globally»view

more26k24k▊NewScaleCitiesJobsaddedsinceOct2021▊ScaleCitiesExistingEmployeeCount25k20k23k22k20k300kJobscreatedoverthepastyear15k10k5k1.3MJobscreatedgloballybystartupsbasedinScaleCities20182019202020212022Page

/7

Source:Dealroom.co.DataasofFebruary2023.Scale

Cities

startups

raised

nearly

25%

of

European

total

venture

capitalinvestment

in

2022,

in

the

second

most

active

year

on

record.Scale

Cities

VC

Investment

activity»view

moreEuropean

VC

investment

activity»view

more€150B€40B€30B€33B€121B€97B€100B€50B€20B€20B€10B€50B€50B€12B€11B€35B€7B2018201920202021202220182019202020212022Source:Dealroom.co.DatauptoFebruary2023.Note:duetoreportinglag,thelast12monthsaresystematicallyunderreportingonroundsespeciallysmallrounds.Contactusforcorrectedestimates.Page

/8How

entrepreneurship

is

fostered

across

Scale

Cities

&

beyond.CapitalUniversitiesThe

Snowball

EffectEarly-stage

supportEnablinginvestmentininnovation,R&Dandpeople,acceleratinggrowth.Universitiesareimportantbreedinggroundsforinnovationandentrepreneurship.Breakthroughstartupsandunicornsaremajorcatalystsforcompoundingsuccess.Startupsgenerateeconomicvalueandjobs.Supportat

earlystage

canbemakeorbreak.●●●●●●●●VenturecapitalinvestorsInwardinvestmentAcceleratorsGrantsCrowdfundingCorporates●●●●Spinouts&knowledgetransferMeetingpoint-sciencexinnovationEntrepreneurshipprogramsandincubatorsAlumnifounder●●Talent

-startup“mafia”foundersCapital-investorandemployeereturnsreinvestedinecosystemExpertise-trainingtalentwithrelevantstartupoperatorexperience●EmployeeownershipincentivesTalent/visaprogrammesEffectiveandup-to-dateregulationEaseofdoingbusinessCapital-grants,fund-of-fundsetc.●●●●●FamilyOfficesPrivateEquitycommunitiesPage

/91

TheScaleCities2

Capital3

Universities4

TheSnowballEffectA

MethodologyMajor

top

tier

international

investors

have

built

strong

portfolios

acrossScale

Cities

in

recent

years.Investments

into

Scale

Cities

founded

companies

by

selected

International

investors

(2017-2022)LondonUKPalo

AltoUSASanFranciscoUSALondonUKTradeRepublicAutomationHeroPersonioPitchCargoOneTaxfixTaxdooFlinkInsifyChocoCapmoUpvestOperAivenFactorialy42SEE

MORESEE

MORESEE

MORESEE

MOREMunichGERMANYSanFranciscoUSAStockholmSWEDENLondonUKAivenUpvestHiveHiveMQSellerXCoachHubZolarMaterialExchangeTaxfixStockledArKCapital

PassionFrootVoiVanMoofAvimedicalTestGorillaSEE

MORESEE

MORESEE

MORESEE

MOREPage

/11Source:Dealroom.coInvestors

are

more

interested

in

brilliant

entrepreneurship

than

bordersor

proximity

-

capital

flows

between

the

Scale

Cities

across

the

alliance.Investment

rounds

examples

across

the

Scale

Cities

in

2022Scale

Cities

based

investor……

invested……into

a

non-local

Scale

Cities

startupWayraMadrid€1M

SeedFeb2022Optimus

PriceBarcelonaSpeedinvestVienna$3M

Early

VCNov2022RausBerlinPicus

CapitalMunich€30M

Series

AJan2022LendisBerlinGlobal

FoundersCapitalBerlin$73M

Series

BJan2022SoSafeCologneCreandumStockholm$120M

Series

COct2022FactorialBarcelonaPage

/12

Source:Dealroom.coIncreasingly

connected

ecosystems

enable

capital

and

talent

to

flow

across

thecontinent,

leveraging

local

strengths

and

opening

new

opportunities.Founders

of

some

of

Europeʼs

biggest

startup

successestrained

at

universities

in

other

Scale

CitiesSelected

unicorns

with

secondaryoffices

in

other

Scale

CitiesAlumni

from

Scale

Citiesuniversities……who

founded

startups-turned-unicorns

inanother

city

across

the

alliance.UnicornHQ

locationStockholmSecondary

officesin

other

Scale

Cities.Amsterdam,Barcelona,Berlin,Cologne,Helsinki,Lisbon,Madrid,Munich&ViennaUniversity

ofAmsterdamAmsterdamHelloFreshWestWingMunichKlarnaBerlinKTH

RoyalInstituteof

TechnologyStockholmDeliveryHeroBerlinRocketInternetBerlinAmsterdam,Madrid&ViennaN26BerlinESADEBusiness

&Law

SchoolBarcelonaGorillasBerlinOLXAmsterdamAmsterdam,Berlin,Cologne,Hamburg,Lisbon,

Madrid,Munich

&StockholmFLIX

SEMunichPage

/13Source:Dealroom.coExplore

470+

acceleratorprogrammes

operatingacrossScale

Cities.StartupaccelerationandincubationprogrammeslocatedacrosstheScaleCitiesarehelpingstartupfoundersscalefaster

andbetter.Explore

the

Scale

Cities

acceleratorsPage

/14Source:Dealroom.co.1

TheScaleCities2

Capital3

Universities4

TheSnowballEffectA

MethodologyUniversities

play

a

key

role

in

fostering

supportfor

early-stage

entrepreneurship.Scale

Cities

Universitiesby

Number

of

European

FoundersScale

Cities

Universities

byAlumni

Founded

UnicornsDiscover

all

of

the

Scale

CitiesUniversities

»

view

onlineNUMBER

OFALUMNI-FOUNDEDUNICORNSNUMBER

OFEUROPEANFOUNDERSNAMESCALE

CITYNAMESCALE

CITYTechnical

University

Munich(TUM)Technical

University

Munich(TUM)Munich874750874Munich99KTH

Royal

Institute

ofTechnologyStockholmAmsterdamBarcelonaBarcelonaMadrid750IE

Business

SchoolMadrid755444447Ludwig

MaximilianUniversity

of

MunichUniversity

of

Amsterdam683

683643

643621

621575

575522522Munich55Universitat

Politècnica

deCatalunyaUniversitat

Politècnica

deCatalunyaBarcelonaBarcelonaViennaESADE

Business

and

LawSchoolUniversitat

de

BarcelonaUniversity

of

Vienna4IE

Business

School44IESE

Business

SchoolBarcelonaAmsterdamMadridUniversity

of

AmsterdamIESE

Business

SchoolAmsterdamBarcelonaBarcelonaAmsterdam

University

ofApplied

Sciences49349344Universidad

Politécnica

deMadridESADE

Business

and

LawSchool482482Universidad

Autónoma

deMadridUniversitat

de

BarcelonaBarcelona4

44116Madrid33Page

/16SSoouurrccee::DDeeaallrroooomm..ccoo.|DatauptoDecember2022.Scale

Cities

spinouts

are

on

a

rapidly

upward

trend

in

terms

of

both

valueand

employment.Scale

Cities

Spinouts

Total

Enterprise

Value»view

moreScale

Cities

Spinouts

Total

Employee

Count»view

more€26B40k+40k30k20k€25B€20B€24B34k29k€15B€10B€5B20k€11B€8B13k€6B10k2018201920202021202220182019202020212022Source:Dealroom.co.DatauptoFebruary2023.Page

/17

Note:duetoreportinglag,thelast12monthsaresystematicallyunderreportingonroundsespeciallysmallrounds.Contactusforcorrectedestimates.Explore

an

interactive

landscape

ofselected

Scale

Cities

universitiesandtheirrespectivespinouts:Scale

Cities

spinouts

have

raised

over€4B

in

the

last

four

years.Largest

investment

rounds

intoScale

Cities-based

spinouts

in

2022

»view

onlineCelonisTTTech€400M|SeriesDMunich

Aug2022€285M|LateVCVienna

Aug2022KinexonIQM€130M|SeriesAMunich

Apr2022€128M|SeriesAHelsinki

July2022Scenic

BiotechAgile

Robots€28M|SeriesAAmsterdam

Mar2022€30M|LateVCMunich

Apr2022PreWaveUnifly€11M|SeriesAVienna

Sept2022€10M|LateVCAntwerp

Sept2022Scale

Cities

University

spinoutsPage

/18Source:Dealroom.coScale

Cities

spinouts

have

raised

overa

quarter

of

the

VC

funding

intoEuropean

spinouts

in

2022.Explore

an

interactive

landscape

ofselected

Scale

Cities

universitiesandtheirrespectivespinouts:▊ScaleCitiesVCInvestment

▊EuropeanVCInvestment€8B€6B€4B€6.3B€4.7B€3.4B€3.3B€2B€2.1B€1.3B€1.3B€0.9BScale

Cities

University

spinouts2019202020212022Page

/19Source:Dealroom.co1

TheScaleCities2

Capital3

Universities4

The

Snowball

EffectA

Methodology9K+

new

startups

have

been

founded

across

the

Scale

Cities

in

the

past

5

years.Cumulative

number

of

startups

founded

across

the

Scale

Cities2022Post

ReportingKey

TakeawaysLag8K1.6k€110B+

ofcombinedenterprisevalue.Period2022startupsfoundedin2019165k+

jobscreatedwithinthesestartups.6K4K2kstartupsfoundedin201713

new

unicorns

foundedinthisfiveyearperiod.Explore

thesenewlyfounded

startups

in2KScale

Cities201720182019202020212022Source:Dealroom.co

DataasofFebruary2023.Note:duetoreportinglag,thelast12monthsaresystematicallyunderreportingonstartupscreated.

Contactusforcorrectedestimates.Page

/21Amsterdam,

Berlin

and

Madridlead

in

nascent

startup

countacross

the

Scale

Cities.AmsterdamBerlin1.7k+1.3k+700+600+500+500+400+300+250+250+200+200+MadridHamburgMunichBarcelonaStockholmHelsinkiViennaCologneLisbonAntwerpPorto100+Source:Dealroom.coPage

/22NascentstartupsareclassifiedasstartupswithamaximumoftwoemployeeswhichhaveascalableVCinvestablebusinessmodel.180+

startups

have

been

created

by

former

employees

of

European

Unicorns

acrossScale

Cities.Number

of

startups

created

by

former

employeesof

European

unicorns

across

Scale

Cities.The

Snowball

Effects

of

European

Startup

SuccessesEarlytechecosystemsuccessnotonlycreatesvalueandbeliefforacommunity,butbreedsagenerationofoperatorswhoknowhowto

startandscalesuccessfulbusinesses,whohavetherightnetworkandat

timestheexitcapitalto

starttheirnextventure.Itstartsasnowballeffectofsuccess.Berlin77+35+15+15+15+15+5+StockholmAmsterdamBarcelonaMadridThesearetheEuropeanStartupMafias.ThetraininggroundsthatbecamethefounderfactoriesfuellingtheEuropeanstartupecosystem.MunichHamburgHelsinkiVienna5+5+Lisbon1-31-31-31-3AntwerpColognePortoDiscover

Europeʼs

startupfounder

factoriesPage

/23

Source:Dealroom.co.25k+

open

jobs

arecurrentlylistedat

startupsinScale

Cities.Search

JobsExploreJob

openings

at

thousandsofstartupsbasedacrosstheScale

Cities.AmsterdamAntwerpBarcelonaBerlinLisbonMadridMunichPortoCologneHamburgHelsinkiStockholmViennaDiscoverAllPage

/241

TheScaleCities2

Capital3

Universities4

TheSnowballEffectA

MethodologyMethodology

&

definitions.Startups,

scaleups,grownups

and

techVenture

capitalinvestmentCompany

valuations(public

&

private)Data

sources

used

inthis

reportGeographic

scope

ofthis

reportCompaniesdesignedto

growfast.Generally,suchcompaniesareVC-investablebusinesses.Sometimestheycanbecomeverybig(e.g.$1B+valuation).Investmentnumbersrefertoroundssuchasseed,seriesA,B,C,….latestage,andgrowthequityroundsCompanyvaluationsarebasedontheirmarketcapitalization(public)orlatesttransactionvalue.Sharepriceareusuallytakenaroundthepublishingdateofthereport.DealroomʼsproprietarydatabThegeographicscopeismentionedonindividualpages.aggregatedatafrommultiplesources:harvestingpublicinformation,user-generateddataverifiedbyDealroom,dataengineering.Alldataisverifiedandcuratedmanually.Thereportincludesdataupuntilthe10thJanuary2023.CompanyandinvestorlocationsarebasedontheircurrentHQandnotfoundinglocation.Venturecapitalinvestmentfiguresexcludedebtorothernon-equityfunding,lendingcapital,grantsandICOs.Whenstartupsaresuccessful,theydevelopintoscaleups(>50people),grownups(>500people)andresultinbigcompanies,likeAdyen.Forprivatecompanies,thevaluationistakenfromtheirexitorimpliedunrealisedvaluationfromthelatestVCround,whichiseitherannouncedorestimatedbyDealroombasedonmarketbenchmarks.Forsomecities,wetake

thegreatermetroto

includesurroundingsuburbs(forinstanceinAmsterdam,MunichandPorto).Buyouts,M&A,secondaryrounds,andIPOsaretreatedasexits:excludedfromfun