Observed Signal · Oct 9, 2024 · Partnership · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Belgian Tech Ecosystem Maturing: 2024 State of Tech Report
The inaugural State of Belgian Tech Report 2024, produced by Syndicate One, Bain & Company, and Sofina, reveals a maturing Belgian startup ecosystem. In H1 2024, Belgian tech startups attracted close to €500 million in investment, already surpassing the €424 million raised in all of 2023. AI companies dominate, accounting for over 70% of capital invested. Belgium now has four unicorns: team.blue, Collibra, Odoo, and Deliverect. Exits are rising (22 in H1 2024 vs. 13 in 2018), and Belgian VCs are on track to raise over €400 million this year. Early-stage funding drives growth, with seed rounds tripling since 2018. However, talent shortages and unfavorable employee stock ownership plan (ESOP) regulations remain key challenges for founders, limiting their ability to scale and reinvest.
Report on Belgian tech ecosystem provides insights into funding trends, but not directly impactful to global AdTech/MarTech industry.
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Key Takeaways & Evidence Grounding
- Belgian tech startups attracted close to €500 million in H1 2024, surpassing the €424 million raised in full-year 2023.
- AI companies accounted for more than 70% of capital invested in H1 2024.
- Belgium has four unicorns: team.blue, Collibra, Odoo, and Deliverect.
- Exits grew from 13 in 2018 to 36 in 2023, with 22 recorded in H1 2024.
- Belgian VCs are on track to raise over €400 million in new funds by end of 2024.
- Early-stage rounds accounted for 77% of capital raised by Belgian startups over the last six years.
Connected Companies & Entities
5 Entities mapped“Syndicate One, Bain & Company and Sofina have joined forces to conduct data-driven and qualitative research into Belgium’s maturing technolo...”
“Syndicate One, Bain & Company and Sofina have joined forces to conduct data-driven and qualitative research into Belgium’s maturing technolo...”
“Four ‘unicorns’ (companies with a $1 billion valuation or higher) have emerged in Belgium: team.blue, Collibra, Odoo, and Deliverect....”
“Four ‘unicorns’ (companies with a $1 billion valuation or higher) have emerged in Belgium: team.blue, Collibra, Odoo, and Deliverect....”
“Dealroom data indicates that capital invested per round have steadily increased in the period 2018 to 2024 to date...”
Ontology Mapping & Concepts
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