
The annual deep dive into the angel investment climate of Europe.
About the report
This report, initiated by Ash Pournouri and Andreas Grape (Nordic Angels), along with BCG, embodies a comprehensive exploration and detailed data aggregation across the European startup and private market ecosystem. The objective is to map, promote, and unify the stakeholders within this ecosystem to enhance its overall bandwidth and leverage. Within the scope of this report, an 'angel' is defined as any business angel contributing to the startup and private market as an investor, board member, advisor, or through any other means that involve investing time, money, or effort to foster the growth of the startup scene. The following is an excerpt of key findings from the research and is provided to offer a glimpse into the comprehensive insights contained within the full report.
Report highlights
Startup Impact: Changing Society and Boosting Economies
Startups drive societal change and economic prosperity
Smaller entities, including startups, represent 20% portion of patent applications - European patent office
Half of all new jobs in OECD countries are created by companies founded in last 5 years
The value of the global startup ecosystem value surpasses the national GDP of major economies like France and Germany
Startups drive societal change and economic prosperity
Angel investors support startups across their entire lifecycle journey
The top four European markets represent 72% of total funding
67% of funding is accounted for by four countries
European investors need to take more calculated risks and work collaboratively across the ecosystem
“The reason why the US [VC investing] climate is the way it is, is because of risk appetite. People are willing to make bets on other people. In Europe, people are much more conservative.— Petter Made, EWOR

Take calculated risks

Improve collaboration
