10 Innovative European Startups to Watch
The European startup scene is booming with innovative and disruptive small businesses that are transforming the way we live, work and play.
From innovative consumer products to game-changing technologies, Europe has become a hotbed for startup success stories. As such, it’s worth taking a closer look at some of the most promising startups from the continent.
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List of 10 Innovative European Startups to Watch
Here are 10 of the most exciting and innovative European startups to watch in 2020 and beyond:
1. Umotif
Founded in 2015, this London-based startup uses AI-powered technology to help businesses understand and engage their customers better.
Umotif’s software collects customer data from multiple sources and then builds predictive models that give companies insights into customer behaviour and preferences.
2. Brainly
This Polish education startup provides an online platform for students to ask and answer questions. Millions of students visit Brainly each day to get homework help, study tips and advice from their peers all around the world.
3. Blippar
This company is on a mission to ‘make the world more interactive’ with its augmented reality app. Blippar combines computer vision, AI and image recognition technology to create immersive experiences for customers through their smartphones and tablets.
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4. Unbabel
Unbabel’s AI-powered platform helps companies communicate with customers in more than 30 languages in real time.
By providing high-quality translations at a low cost, Unbabel is helping break down language barriers and improving customer service for businesses across the globe.
5. Liip
This Swiss startup offers a range of products for businesses looking to improve their digital presence. Liip offers web design, hosting, CMS development, analytics and marketing automation services to their clients all over the world.
6. Prodigy Game
This educational gaming company offers an online mathematics platform used by millions of students across the world.
The game uses data science to personalize each student’s learning experience while making math fun and engaging.
7. Wynd
Founded in 2015, Wynd is an innovative Paris-based company that provides air quality sensors that monitor air pollution in cities around the world.
Wynd’s sensors offer real-time air quality data that allow cities to take action against pollution levels in their area.
8. Faveeo
This mobile app enables users to find and book fitness classes in their area easily. Users can access Faveeo’s calendar of classes on their phone or laptop, making it simpler than ever to stay active without having to leave the house.
9. SuperCarers
Founded in 2015, this London-based startup provides an online platform that connects people who need care with local care providers available to help them. SuperCarers helps to take the stress out of finding reliable care by allowing users to find vetted carers in their area quickly and easily.
10. Smarp
This Helsinki-based company has created an employee advocacy platform that enables companies to communicate with their employees more effectively using social media channels such as Twitter and LinkedIn.
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Smarp helps businesses unlock a powerful new communication channel to increase employee engagement and boost brand visibility online.
An Overview of the Startup Environment in Europe
Startup Environment in Europe is booming and the continent is emerging as one of the most vibrant places for startups.
As the global stage tilts to accommodate the startup culture and provide ample opportunities of growth, Europe is evolving as one of the hotbeds of technology-based innovations.
As of 2020, a total of 4,771 innovative startups were funded in Europe, with an estimated capital of $50 billion. Furthermore, Europe has a highly developed venture capital and private equity ecosystem, along with other financial institutions that make it easier for startups to secure funding and further growth.
From tech service giants like UMotif, Brainly, Blippar and Unbabel to eCommerce companies like Liip, ProdigyGame, TheWynd and Faveeo to marketplaces like Supercarers and Smarp, a wide range of innovative companies are making waves on the European startup scene.
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The continent provides both talent and capital resources to help startups grow. There is also a strong community that encourages budding entrepreneurs to realise their vision.
As such, new companies have enough leeway to embark on ambitious projects that have the potential to disrupt industries or create entirely new ones.
To further incentivise entrepreneurs to innovate, government initiatives like Entrepreneur First (EF) provide funding by connecting people with investors and mentors. Similarly, the European Innovation Council (EIC) is an accelerator programme that provides young companies with access to grants, loans and equity investments.
Overall, Europe is a great place for startups to establish themselves and tap into the vibrant innovation infrastructure that the continent provides.
With ample resources and a highly-motivated community backing them, entrepreneurs have an excellent opportunity to realize their dreams and make an impact on the world.
Challenges of Startups in Europe
Despite the numerous advantages that Europe provides to entrepreneurs, startups can still face multiple challenges. These include the following:
1. Protecting Intellectual Property
Due to a lack of resources and technical knowledge, many startups find it difficult to protect their intellectual property (IP) rights.
Without proper legal guidance, companies are unable to ensure that their ideas are not stolen and cannot protect themselves from future liabilities.
2. Access to Capital
While venture capital investments in Europe are on the rise, not all startups will have access to adequate funding. As such, securing capital or finding suitable investors can be a challenge for young companies.
3. Talent Acquisition
With an increased competition for tech talent, it can be difficult for startups to find and retain skilled employees. Companies often face a shortage of qualified staff, which can stifle their growth potential.
4. Regulatory Compliance
Many countries in Europe have complex regulatory frameworks that startups must adhere to in order to remain compliant. This can be difficult for smaller companies that lack the resources or legal knowledge to navigate through the various regulations.
Best European Countries to Start Your Startup in
If you’re looking to start a venture in Europe, then the top countries to consider include the following:
1. Sweden
With a supportive regulatory environment, low corporate tax rate, and generous government-backed support programs, Sweden is an ideal place for entrepreneurs looking to set up their business.
The country is also home to a vibrant tech start-up community, which provides an excellent platform for entrepreneurs to network and collaborate.
2. Switzerland
With its sophisticated infrastructure and stable political environment, Switzerland is an attractive destination for startups.
Thanks to its strong banking sector and favorable taxation policies, entrepreneurs can benefit from a number of advantages when doing business in the country.
3. Germany
Germany is one of the strongest economies in Europe and offers numerous benefits for entrepreneurs. The country has a large and highly skilled workforce that can help startups grow quickly.
Additionally, there are plenty of government-funded programs in place to support entrepreneurs in developing their business.
4. The UK
The UK offers a number of incentives for businesses of all sizes. Startups can benefit from its well-developed infrastructure, access to capital, favorable tax rates, and large talent pool.
5. Ireland
With its thriving startup ecosystem and access to capital, Ireland is an ideal location for entrepreneurs looking to launch their venture.
The country is also home to a number of world-leading tech companies, which makes it easier for startups to benefit from their expertise and resources.
Ultimately, the decision of where to set up your business will depend on your individual needs and objectives. It’s important to do your research and speak with experts who can provide guidance on the best European country for your venture.
Conclusion
The above 10 innovative European startups are just some of the exciting companies on the rise from this continent – there are many more out there! It will be interesting to see which ones will go on to become household names in 2020 and beyond.
Overall, Europe provides an exciting opportunity for entrepreneurs to pursue their dreams and make an impact on society. However, startups must be aware of the various challenges they may face and develop strategies to overcome these obstacles in order to ensure long-term success.
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