From where I’m standing, the European startup scene appears to be alive and kicking, and although we’re still very, very far from Europe being a perfect place to launch a business in many regards, I remain hopeful about the chances of major technology companies booting up around here in the next decade and beyond.
Anyway, Seedcamp is one of the ‘local’ projects I most admire, and today they’re sharing some numbers and facts – long overdue if you ask me – that underline just how important a role they play in the European startup ecosystem.
Annually, Seedcamp says it sees over 2,000 companies apply to the 11 events it organizes across the EMEA region. Of those, 10 percent (roughly 220) are provided active mentoring from the 1,200 mentors (entrepreneurs, investors, etc.) in the Seedcamp network.
Of those 220 remaining companies, 10 percent (15 to 20 startups) received seed funding from Seedcamp in addition to one-year long support, with a particular emphasis on active mentoring in the first 3 months after raising funding.
Here’s where it gets interesting:
Seedcamp points out that, of the 22 companies in which $1.5 million was invested from 2007 to 2009, no less than 90 percent of those startups raised follow-on funding (on average somewhere in between $300,000 and $2 million) in their next round.
Overall, Seedcamp-seeded startups have secured over $30 million in capital, and of the 17 companies that are stilll alive and independent after their participation in Seedcamp Fund I, the organization says all have a product launched, while all are generating revenue (except one unnamed startup).
Only two of the companies have ceased operations, and three have been acquired.
Ultimately though, Seedcamp’s model doesn’t revolve around isolated ‘home runs’, and to underscore that here’s my favorite stat from the Seedcamp, erm, camp:
The 17 companies mentioned above boast over 300 employees in total today, as opposed to the 2 people on average per company when they came to Seedcamp. That’s a growth of 6x over 3 years in headcount over 3 years, and what makes me fond of Seedcamp.
For your further reading pleasure:
Seedcamp data shows the startup trends in Europe (Sept 2009)