Belgium's startup ecosystem is steadily growing, with Brussels and Antwerp being key hubs for innovation. As of 2023, Belgium is home to around 1,500 startups. The Belgian government supports entrepreneurship through initiatives like Startup Belgium and the Digital Belgium plan, which provide funding, resources, and mentorship for startups.
Size of the Market
In 2022, Belgian startups raised approximately €800 million in venture capital. The growth of the market is evident in the increasing number of startups and the rise in venture capital investments, indicating a vibrant and dynamic startup ecosystem.
Key Strengths
Strengths of the Belgian market include a highly educated workforce, a strategic location in Europe, and a strong focus on innovation. These elements create a fertile environment for startups to thrive and attract investment.
Major Hubs
Brussels is known for its strengths in fintech, healthtech, and smart cities, attracting significant investments and producing notable startups like Collibra and Showpad. The city serves as a central hub for innovation and entrepreneurship in Belgium.
Emerging Hubs
Antwerp has a growing tech scene with strengths in logistics and creative industries. The city's emergence as a tech hub is supported by its strategic location and innovative culture, fostering new opportunities for startups.
Support Systems
The Belgian startup ecosystem benefits from a strong network of incubators, accelerators, and co-working spaces, providing support and resources for entrepreneurs. Initiatives like Start it @KBC and imec have significantly boosted the ecosystem by offering mentorship, resources, and international exposure.
Challenges
Challenges include high living costs and regulatory complexities. These factors can pose barriers to entry and growth for startups, but ongoing reforms and support systems aim to address these issues.
Opportunities and Future Outlook
Belgium is making significant strides in innovation and entrepreneurship, with substantial growth opportunities driven by continuous investment and technological advancement. The future outlook is positive, with expectations of further development and international expansion.
Resilience and Adaptability
Belgium's strategic location in the heart of Europe and its role as a hub for international organizations provide startups with ample opportunities for regional and international expansion. The country's strong emphasis on sustainability and green technology is driving innovation in sectors such as renewable energy and environmental technologies.
Conclusion
Belgium's pro-business policies and robust infrastructure make it an attractive destination for entrepreneurs and investors. As Belgium continues to invest in its startup ecosystem, it is poised for further growth and development, contributing significantly to the European and global markets.
How to connect with Angel Investors in Belgium?
Overview
Belgium's investment landscape for startups is robust, characterized by a blend of top angel investors and leading venture capital firms. These entities play a pivotal role in nurturing the country's burgeoning startup ecosystem, providing not just financial backing but also strategic support and mentorship to emerging businesses.
Top Angel Investors
Angel investors in Belgium are crucial to the startup ecosystem, offering early-stage funding and guidance. Prominent figures include Michel Akkermans, who has invested in fintech and healthtech startups, and Jurgen Ingels, known for his investments in tech and innovation. These investors typically focus on seed and early-stage investments, helping startups to develop their products and scale their operations.
Leading Venture Capital Firms
Belgium boasts several leading venture capital firms such as Volta Ventures, Fortino Capital, and Hummingbird Ventures. These firms invest in a range of sectors including technology, fintech, healthtech, and green energy. They provide substantial funding and support to help startups grow, often participating in multiple rounds of investment to ensure sustained growth and market penetration.
Investment Size and Scope
Belgian venture capital firms and angel investors have significantly increased their investment sizes over the years. In 2022, Belgian startups raised approximately €800 million in venture capital, reflecting the growing confidence in the startup ecosystem. Investments typically range from €100,000 in early-stage funding to several million euros in later stages, depending on the startup's growth potential and market scope.
Number of Investments
The number of investments in Belgian startups has been on the rise, with a steady increase in both the volume and value of deals. Major VC firms and angel investors have been actively involved in numerous funding rounds, supporting a diverse range of startups across different sectors. This growing trend underscores the dynamism and potential of the Belgian startup ecosystem.
Future Outlook of the Investment Market
The future outlook for Belgium's investment market is optimistic. With continuous advancements in technology and a strong emphasis on innovation, the investment landscape is expected to grow further. Emerging sectors like artificial intelligence, renewable energy, and biotech are anticipated to attract significant investments, driving the next wave of startup success in Belgium.
Support and Mentorship
Support and mentorship are integral to the success of Belgian startups. Leading VC firms and angel investors often provide strategic guidance, operational support, and access to extensive networks. Initiatives like Start it @KBC and imec offer structured mentorship programs, helping startups navigate challenges and accelerate their growth. This comprehensive support system enhances the overall sustainability and success rate of startups.
Conclusion
Belgium's startup ecosystem is poised for continued growth, fueled by the active participation of top angel investors and leading venture capital firms. With increasing investment sizes, a rising number of investments, and a supportive environment, the future looks promising for Belgian startups. The synergistic efforts of investors and support systems are set to propel Belgium to the forefront of innovation and entrepreneurship in Europe.
Case Studies: Successful Funding Rounds with Angel Investors on Angels Partners
Fintech: applications built on top of open banking, Saas with integrated fintech products, embedded finance plays.
Insurtech: new risk with new data sets; infrastructure, embedded insurance plays
Not Interested In
If you don't feel you have any link or connection to financial services (in a broad definition), then its probably not an opportunity for me
Chad Anderson
Investing in Software (Web Marketplace Saas..) &b...
New York, U.S.A. - Global: U.S.A., Australia, Canada, Germany, U.K., Israel, France, Italy, Spain, Netherlands, Belgium, Switzerland, Denmark, Finland, Luxembourg, Malta, Iceland
Investing in Software (Web Marketplace Saas..) &b...
San Francisco Bay Are..., U.S.A. - Brazil - Japan - China - Western Europe: Austria, Belgium, France, Germany, Ireland, Liechtenstein, Luxembourg, Monaco, Netherlands, Switzerland, United Kingdom - Eastern Europe: Belarus, Bulgaria, Czech Republic, Hungary, Moldova, Poland, Romani
Previous Investments
• Kili Technology:
$6930000 (Early stage VC)
• Wishop (Online Shopping):
$1750000 (Seed Round)
• Herzsache:
• Creditas:
$260000000 (Series F)
• Creditas:
$260000000 (Series E)
• Creditas:
$3000000 (Series A)
• Clyde:
$25000000 (Series B)
• Keeper:
$13000000 (Series A)
• Carewell:
$5000000 (Seed)
• RoadRunner Recycling:
$29000000 (Series C)
• Zumper:
$62000000 (Series D)
• The RealReal:
$70000000 (Series H)
• The RealReal:
$120000000 (Series G)
• The RealReal:
$50000000 (Series F)
• The RealReal:
$40000000 (Series E)
• The RealReal:
$40000000 (Series D)
• The RealReal:
$20000000 (Series C)
• The RealReal:
$14000000 (Series B)
• Voicea:
$15000000 (Series A)
• Voicea:
$6000000 (Seed)
• Eucalyptus Systems:
$30000000 (Series C)
• Eucalyptus Systems:
$20000000 (Series B)
• Eucalyptus Systems:
$6000000 (Series A)
• Betaworks:
$20000000 (Series B)
• YuMe:
$25000000 (Series Unknown)
• YuMe:
$5000000 (Series C)
• YuMe:
$9000000 (Series B)
• YuMe:
$7000000 (Series A)
• AppFolio:
$8000000 (Series C)
• AppFolio:
$17000000 (Series B)
• BlueKai:
$3000000 (Series A)
• Vuze:
$20000000 (Series C)
• Vuze:
$12000000 (Series B)
• Vuze:
$2000000 (Series A)
• ServixerLLC:
$3000000 (Series Unknown)
• ServixerLLC:
$4000000 (Series Unknown)
• Sonos:
$6000000 (Series B)
• Sonos:
$15000000 (Series A)
• Sonos:
$18000000 (Series A)
• Sonim Technologies:
$8000000 (Series Unknown)
Mathias Schilling
San Francisco Bay Area - California, U.S.A. - Brazil - Japan - China - Western Europe: Austria, Belgium, France, Germany, Ireland, Liechtenstein, Luxembourg, Monaco, Netherlands, Switzerland, United Kingdom - Eastern Europe: Belarus, Bulgaria, Czech Republic, Hungary, Moldova, Poland, Romani
Dr. Marek Olszewski is a Co-Founder of Celo. He is a Co-Founder and served as the Chief Technology Officer at Locu. Prior to Locu, Marek was a senior PhD candidate at MIT CSAIL. He is a Facebook Fellow and the recipient of the J. Edgar McAllister Fellowship. He has prior work experience at a number of technology companies including Google, Microsoft (Research) and Sun (Labs). He is also an angel investor.
Brian Caulfield
Investing in Software (Web Marketplace Saas..) &b...
San Francisco Bay Area, Israel - Global: U.S.A., Australia, Canada, Germany, U.K., Israel, France, Italy, Spain, Netherlands, Belgium, Switzerland, Denmark, Finland, Luxembourg, Malta, Iceland
Previous Investments
• TetaVi:
$20000000 (Series A)
• SaNOtize:
$24000000 (Series B)
• Sotero:
$8000000 (Seed)
• MAOLAC:
$3000000 (Seed)
• BioLumic:
$14000000 (Series B)
• Mermade Seafoods:
$3000000 (Seed)
• Oriient:
$11000000 (Series A)
• Sequentify:
$7000000 (Seed)
• Rewire:
$25000000 (Series Unknown)
• Rewire:
$20000000 (Series B)
• JumpCloud:
$66000000 (Series F)
• Zippin:
$30000000 (Series B)
• Yoom:
$20000000 (Series A)
• MaterialsZone:
$6000000 (Series A)
• Edgybees:
$10000000 (Series A)
• OncoHost:
$8000000 (Series B)
• Superpedestrian:
$60000000 (Series Unknown)
• MigVax:
$12000000 (Series Unknown)
• MedAware:
$8000000 (Series A)
• MedAware:
$1000000 (Convertible Note)
• MedAware:
$1000000 (Series Unknown)
• Wave:
$10000000 (Series C)
• Peer39:
$500000 (Seed)
• Answers Corporation:
$1000000 (Series B)
Jonathan Medved
San Francisco Bay Area, Israel - Global: U.S.A., Australia, Canada, Germany, U.K., Israel, France, Italy, Spain, Netherlands, Belgium, Switzerland, Denmark, Finland, Luxembourg, Malta, Iceland
Michael Brehm is a Co-Founder at Rebate Networks. Brehm is a Co-Founder and serves as Partner at Redstone Digital. Prior to this he was Executive Director of studiVZ, at the time Germany's largest social network. Before starting in the technology sector he began his career at Merrill Lynch in the M&A division. He obtained his Business degree from WHU (Germany) and EGADE (Mexico) and also studied at CEIBS (China) where he learned Mandarin. Alongside being a Partner at Redstone Michael is an active angel investor in more than 20 companies like: Kreditech, Atheneum Partners or Inventorum.
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