The Netherlands may be a small country, with a population of approximately 17 million, but in the last few years its managed to win accolades in the startup ecosystem – especially in Amsterdam.
The Netherlands is on a mission to develop a startup ecosystem that rivals those in other parts of Europe, including London and Berlin.
The country may be small, with a population of approximately 17 million, but it has managed in a few short years to win accolades for its business development efforts – especially in Amsterdam. Over the last year alone, the city has been recognized as the second best startup city and third best scale up city by the European Digital City Index (EDCi); seventh in the world by the Innovation Cities Index; and fifth out of forty cities in the CITIE ranking – which focuses particularly on entrepreneurship, innovation and technology.
On the global innovation stage, the Netherlands is definitely gaining attention. But what is prompting the Netherlands’ rise as a startup hub? It’s not that startup success in the Netherlands is new. Companies like Booking.com and WeTransfer were founded in the country, while several US-based innovation leaders have set up development teams here. In December 2014, fintech company Adyen even became the country’s first unicorn – reaching $1 billion in VC investment.
Looking at the VC investment climate in the country, the real changes appear to be on the support side. Over the past few years, the Netherlands has made a real push to promote its value as a location for startups and to coordinate its innovations efforts across government, the private sector, academia and startup incubators and accelerators like Rockstart and Startupbootcamp.
Three key activities that are helping the Netherlands rapidly grow its innovation and startup ecosystem include:
While the Netherlands still has room to grow in terms of fostering an innovation ecosystem, its efforts over the past year have helped transform the world’s perception of the country and the city of Amsterdam. As collaborative innovation initiatives continue to expand, the country will definitely be a tech hub to watch during 2016.
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Daniël founded the Innovative Startup Group in the Netherlands and is responsible for setting up collaborations with technology startups for KPMG. In his work he helps corporate clients around the world identify and work with the right startups. He and his team also help organizations setup an innovation function and drive technological change.
Quarterly global report on VC trends published jointly by KPMG International and CB Insights.