Entrepreneurship Redefined

Summary of Study

Bottom Line: Across a number of factors, those who differ from tech’s narrow norm find it more difficult to thrive in the ecosystem. Where people represent more than one marginalized group, these barriers compound. Investors are overlooking minority tech entrepreneurs. Predictions for 2020 include that by the end of the decade 50 percent of European STEM graduates will be women. 

In the cohort of 3,500 startups that visited Slush in 2019, companies whose application was submitted by a woman (usually one of the founders) had received less funding on average, but done more with the money, generating more revenue from their funding and employees. This shows that investors are still overlooking the impact of minority entrepreneurs. Out of the 3,500 startups that attended Slush in 2019, companies founded in 2017–2019 that pursue purpose as a core aspect of their product generate more revenue than their counterparts. 

The Slush team issued the following 20 predictions for the 2020s:

  1. Work done in a startup during the 2020s will be awarded a Nobel Prize down the line.
  2. One of the five most heavily funded industries in 2030 will be one for which the term hasn’t been invented yet.
  3. By 2030, we will speak of online startup hubs alongside physical ones.
  4. In 2030, the most valuable company by market cap in Europe will be a technology company. That company isn’t a unicorn yet.
  5. The biggest European VC-backed exit during the latter half of the decade will be from a deeptech company that has already been founded.
  6. The latter half of the 2020s will finally be characterized by the explosion and democratization of quantum computing.
  7. During the 2020s, humans will return to the moon and land on Mars. The technology for these missions will be built by the private sector.
  8. The pushback against big tech will move from dissent to action. A number of the existing incumbents will be broken up.
  9. Driven by automation, and the mass displacement caused by COVID-19, a third of European countries will have implemented some form of Universal Basic Income by the end of the decade.
  10. The average length of a tertiary education degree will decrease in Europe’s most educated countries.
  11. In 2030, 50% of European STEM graduates will be women.
  12. Mobile will face serious competition from an alternative hardware platform.
  13. By 2030, a third of the European startup workforce will be working remotely.
  14. Driven by exploding rent prices and improving options to work remotely, towards the end of the next decade, Europe’s biggest cities will start to see counterurbanization.
  15. Enabled by low-code, the ratio of engineers and developers to designers and product managers in tech startups will reach 1:1 by 2030.
  16. In 2030, we will no longer speak of ‘impact companies’.
  17. The time to unicorn in Europe will be extended significantly, as a path to profitability, rather than growth, will increasingly become the basis for late-stage valuations.
  18. By the end of the decade, there will be a standardized metric for net impact and it will permanently change the way investors assess companies.
  19. Women in junior positions will make their way through the ranks at VC funds. By the end of the decade, a third of partners at European funds will be women (2019: 13%). On the back of this, a third of funding will go towards mixed or all-female teams (2019: 8.4%).
  20. The 2020s will see the world grappling with diminishing returns across factions of society, from economic growth to technological innovation and scientific discovery. The solutions that humanity finds will pave the way for a new Renaissance in the 2030s.

Read the full study HERE

Feature Charticle

 

Slush

Findings:

  • Across a number of factors, those who differ from tech’s narrow norm find it more difficult to thrive in the ecosystem. Where people represent more than one marginalized group, these barriers compound.
  • Companies whose application was submitted by a woman (usually one of the founders) had received less funding on average, but done more with the money, generating more revenue per euro of funding and per employee.
  • Predictions for 2020 include that by the end of the decade 50 percent of European STEM graduates will be women. 

Read the full study HERE