Image: EY
The record hunt for Europe’s start-ups has come to an end for the time being: young companies received around 75 billion euros in risk capital from investors in 2022, 15 percent less than in the record year 2021. This is the result of the start-up barometer from the consultant EY, which the OÖN present. Companies that are no more than ten years old were analyzed.
Austria follows the European trend: the investment volume fell from 1.23 billion to around one billion euros. That means a slide from 11th place to 16th place in Europe. There were declines in the second half of the year in particular.
Nevertheless, Austria is stable, says Florian Hass, head of the start-up ecosystem at EY Austria. “In the past three years, a lot has happened in terms of investments compared to before.” The industry is becoming more and more professional and global investors are paying attention to Austria. Haas: “The efforts are now bearing fruit.”
The largest transaction in Austria in 2022 involved the tutoring platform GoStudent with 250 million euros. 250 million euros went to the high-tech company TTTech Auto.
London remains Europe’s financing capital with 16.8 billion euros in venture capital, twice as much as in Paris and four times as much as in Berlin. London is a stepping stone to the USA for founders. Investors there are more generous than in Europe, says Haas.
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