The billionaire pipeline: How a 2000s startup boom fueled Europe’s tech renaissance

Imagine the scene. It is 2003 in Tallinn, Estonia. Computer Taavet Hinrikus, a 20-year-old computer computer, just accepted a small known video-call launch, to become the first Skype employee. He knew little at that time, but it was the beginning of a variety of evolution, which would make him one of the first billionaires of Estonia, gave birth to dozens of dollars in financing the economy in Europe. “The idea you can start using this [video-chat technology] The conversations of voice and videos were quite crazy about a boy born in the Soviet Union. But it was obvious to me that it would be an interesting journey, “says Mincusus Fortune

Today, at the age of 43, Hinrikus can add a payment platform Cofounder to the multiple platform for the multiple platform for the multiple platform, which has many companies through countless funding companies. HINRIKUS story, at the beginning of the unique century, would make him a leading business trend. In Europe, a surprisingly high unicorns of unicorne employees in Europe will continue.

European founding factories

It will be essential that it says that the European Tech scene has been revolutionized because the Mincikus began its first day on Skype.

“The idea you can start using this [video-chat technology] Voice and video conversations were quite crazy about a boy who was born in the Soviet Union. “

David Mercrotus

In 2008, the former employees of 215 unicorns have been established in Europe about 1,650 European technological enterprises in Europe. data Provided by Venture Capital Group Accel and Dealroom.co: The couple provided Fortune According to data from startups in the region, which make a separate analysis in Europe and Israel Starup activities in the 2012 century.

Some countries were pierced above their weight. For example, Sweden is a standard performer, breeding multilayer dollar businesses Spotify and Klarna. The employees of that couple founded 123 newly established enterprises. King.com, Candy Crush Saga’s Swedish game group has seen that 43 employees leave for their own companies.

Skype employees will continue to launch a total of 31 newly creates, including Hinrikus’ wise and Ride-Hailing Group Bolt. To this day, these startups have funded $ 3.5 billion.

1,650

The number of newly established European technological enterprises established in Europe has been established since 2008.

Most of the founders, about 55%, start their business in the same European city, where they first started at work. This helped us to spread the effects of the network in Europe, which have become incredible cities such as Galin in prosperous technology nodes.

The double founders also flourished in the early 2000s. Spotify Cofounder and CEO Daniel EK, perhaps the highest level of the level to leave Europe, recently announced a new funding round for its Health Technological Startup, Neko Healtror.

The question is. And what changed so that the founding factory of the continent flower?

Wrinkles:

When the Netherlands Harry Nelis-Aikelian Partner Okel-Aikel, who has undergone itself from Europe over the past 21 years, gives an interview to his company’s candidate, he always asks the same issue.

Nelis’s own answer. Getting married (she says she is now happy married for 30 years now.) But close to the second can be a topography. Nelis was a part of the team, which was on the spot, although industry experts warned that streaming music business would never work.

“The candle was almost undeniably,” Nelis recalls when they ask why it supports it anyway. “The product was so good and so easy to use, and the early consumers’ response, so depressed, had the opportunity to prepare it.”

Think about any multi-yearly dollar European technological technology company, and it’s most likely Accel involved at the beginning. After raising the group, funding for American companies like Facebook, the only real mandate of NELIS in Europe was to find “big ideas” entrepreneurs. This terrible short brief, probably, still asks for job candidates today.

“The biggest mistake of Ventruk does not lose money on investment. It is missing the distance, “says Nelis Fortune From Accel’s London office.

When he first returned to Europe in the Silicone Valley, Nelis was surprised to the obvious difference between the Americans and Europeans, that it was instead of joining one-time.

“It simply came to our notice then. It is missing the distance. ”

Harry Nelis, Partner at Accel

Europe has long been accused of the work of work, which is often associated with Americans. Tom Bloomfield, the co-founder of British unicorns and Monzo, accused UK last year “Know Your Place”, which suppressed entrepreneurship.

Matt Robinson, the cocound coounder and now a partner in Accel agrees with that assessment. However, as his partner Nelis, Robinson noticed the difference between Europeans’ attitude towards entrepreneurship when he started in 2011.

“It simply came to our notice then. You know when you sit here and start company, I think people believe that you are unemployed or unemployed, “he said.

Some elements that are important to increase the beginner, like the availability of seed financing, in the UK, was gas factory only 15 years ago, Robinson notes.

Those who were talking Fortune However, they have been equated for this article that rather attitude is justified, Europe simply needed several successful funds to make everyone possible.

Finnish Finnish Mobile Gaming Unicorn Supercell CEO Ilkka and the co-founder was one of those entrepreneurs who worked without a roadmap.

“I had very few European technology entrepreneurs who I could give advice, for the simple reason that we did not just have many technological startups at that time,” Pananen reminded.

Nellis says that the founders of European launches were acting models who made successors for their successors. One of them would be a multiple Yerkiikus, who Skype watched one of the first unicorns in Europe.

“People know the dungeon,” says Nelis, noting that new startups are coming today with plans to solve big problems.

Many Hirycrycus says that his crystal moment came when he realized the Skype’s Cofounder’s Niklas Zamburager, he did not know that he could do it.

Robinson says that the main obstacles to build a beginner have become easier for him, in particular, taking the best talent and fundraising.

Since Nelis returned to Europe in 2004, unicorns and décator emerged from the European VC pipeline, on which the hundred companies are unavoidable. Robinson spoke with one company that spoke ambitious about becoming the first kilocu, $ 1 trillion on private launch.

“I can’t imagine it says that I wish it even in 2011,” says Robinson.

Stick or turn around.

The launch of the Environmental Environmental Environment brings the typical and evidence that employees will leave for one day to start their own, sometimes competing enterprises.

Tara Ryan, Monzo’s VP, which is experiencing, does not see it as a trade measure.

Monzo stands between the most effective basic factories in Europe. Unicorn Banking was 23 newly established enterprises. Often, when the new company is formed from Monzo, it is not just one person.

“People start their business, but they are often their founding team or their first coefficients,” he said.

This is something hugged, not depressed. In Monzo, he says that Ryan says that the company’s internal website states former employees who passed to become founders.

“People start their business, but often their founding team or their first hand workers are also moninses.”

Tara Ryan, Monzo VP

“I don’t think it’s healthy for employees or employers to try and keep people at all costs,” he said.

Accel’s Robinson leaves another one. During Hospot, he would share their hope for early interviews that they will eventually leave and create their own newcomings.

European dream

It is worth bet on the Mincie, which is dressed in a Hoodie and brand Tee, and speaks to the London Multiple Office, it seems like a lot of lively on the first day of Skype doors.

Skype was purchased by eBay for $ 2.6 billion, now a newly acquaintance of the newly established European enterprise eats by a much larger US technology. Its further parent, Microsoft, no longer needs Skype, which is now widely accepted by the video-chat function of Microsoft teams. Similarly, the Laboratory of Rapiratic Artificial Intelligence Studies founded in London is a Google subsidiary today.

Despite this, European companies, which are conducting access to both capital and talents, are managed to stand on their two legs.

Spotify, Accel’s risk early bets in Europe had market value in early March about $ 125 billion. His Scandinavian Leadership Team has maintained its understanding of the company’s operations as SPOTTIFY Battles with Apple and Amazon.

Other young European companies, like Monzo, are now facing the growth challenge, while they maintain themselves unique as newcomers. Alex Norström, Spotify’s Copresident and Home Business Officer, have advice for beginners for that journey.

“We have tried to maintain our business energy because we have rolled around the world,” he said. “Spotify has always been to have great ambitions and shipping on them.”

At the same time, Supercell’s Paananen believes that Europe’s hardships make it easier to adhere to their roots.

“Europe has a very unique, diverse culture and a unique way of life, which we all love. This is a wonderful place to live and raise a family.

Mincusus spoke about the implementation of the American dream only in Europe.

“I think that the tissue belonging to our companies and building them generate better partners for the next generation,” says Yerikus. “Probably there are 100 early workers in different positions, even in the support of customers who have earned a million dollars from stock options.

“Now we have time again and time that it is not an American dream,” he said. “We have the same thing in Europe.”

This article appearsApril / May 2025Issue of luck with the title “European Dream”.

This story was originally shown Fortune.com