McKinsey & Company recently published a new study about the most successful start-ups in Europe. What can we learn from them? What makes them successfull? What are the indicating decisive factors in development?
Some insights from the study:
„European start-ups are being created and growing at an unprecedented pace these days, attracting the attention of global investors, customers, and corporate partners alike.
Despite the range of systemic challenges start-ups still face, including regulatory and cultural challenges, growing numbers of dynamic new ventures are thriving. These bold players offer valuable lessons for others aspiring to similar heights—and to a European continent striving to stay economically and technologically competitive with the rest of the world.
To better understand how these standouts succeed, we studied the top 1,000 European tech start-ups founded after 2000 in 33 countries, which include 21st-century companies such as Spotify, Adyen, and BioNTech. We analyzed them along 15 critical growth dimensions and variables such as geography and vertical, as well as on the requirements for the time, funding, and revenues it takes to reach unicorn status.“
One of the Key Learnings: „Successful European tech start-ups follow one of four distinct roads to success: network, scale, product, or deep tech, each with its own characteristics regarding revenue growth, employees, and other similar markers.“