Deloitte Fast50 - Nov 2015
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This document discusses the opportunities for European tech startups in a rapidly changing global landscape. It notes that the internet is growing enormously and will soon connect over 5 billion people, with most of this growth happening outside of traditional Western markets. It argues that Europe needs more diversity and flexible labor markets to keep up, and should aim to create large "unicorn" companies rather than just many smaller "zebra" startups. Overall it presents an optimistic view that with the right mindset, European tech can still thrive globally despite intensifying competition from other regions.
Deloitte Fast50 - Nov 2015
- 1. Thinking Outside the Box [email protected] Deloitte Fast 50, Nov 2015
- 2. Newsflash: the Internet is now enormous
- 3. And with mobile, it will connect 5.6bn people within 5 years
- 4. Markets we know are only 14% of global audience with moderate upside 84% Internet coverage 85% Internet coverage
- 5. China + India = already 32% of global Internet with lots of room to grow 49% Internet coverage 24% Internet coverage
- 6. “We” are already less than "the <20%"
- 7. UK & France already smaller than Nigeria
- 8. Europe will struggle in next 20 years to keep ahead
- 9. The stakes are high
- 10. So how is European tech doing? Despite appearances, actually pretty well…
- 40. It feels like blue skies for startups
- 41. But we need way more diversity in Europe
- 42. We need to change how we think about labour markets
- 43. We know 7% of small companies create >50% of new jobs .
- 44. Europe has too many elephants
- 45. Cities Companies Universities 1976 1690 1830 3,146 837 Companies >200 yrs old 1821 1885 1096 1088 Athens 1400 BC 1776 Lisbon 1200 BC Malaga 8th Century BC Rome 753 BC Marseille 600 BC London 43 AD
- 46. Even Mega-Unicorns are less than 40 years old $650bn $483bn $200bn $422bn $287bn $280bn
- 47. These days you can get very big, very fast
- 48. Only a few sectors have really been seriously disrupted 0 50 100 150 200 250 300 350 400 Forbes 2000 Companies Companies Valued over 1$bn Forbes 2000 list, Cruchbase, Aileen Lee’s list, Fred Wilson’s Hackpad and Index’s own research
- 49. Only entrepreneurs are crazy enough to believe in Unicorns Zebras as % of city population
- 50. UK is surprisingly well positioned to succeed
- 51. Open Data Open Source Open Standards Coding in Schools 25% Govt IT budget for SMEs Govt Digital Services Global thought leader in digital transformation
- 52. London is increasingly Sand Hill Rd for EMEA
- 53. And it’s just getting started
- 54. But until Europe can create $50bn unicorns, it needs to be the best place for Zebras
- 55. Our mindset needs to be geared for a new world
- 56. What do we really know about India & China?
- 57. So let’s not be afraid of the dark
- 58. Aim high and shoot for the moon
Editor's Notes
- #44: Kauffman report, 2012: Looking into its portfolio of nearly 100 VC funds, including what it says are some of the most notable and exclusive names (confidentiality agreements barred it from naming them), the foundation found that only 20 of them beat a public-market equivalent by more than 3% annually, and half of those started investing before 1995. “There are not enough strong VC investors with above-market returns to absorb even our limited investment capital,” the Kauffman Foundation concludes HBS research: Research by HBS which look at US venture returns from 2004-2010 says that about 75% of VC firms don’t return investors capital, based on data from 2,000 companies that received venture funding of at least $1m
- #53: More $bn outcomes in last 15 years (at least 15) than any other cities other places other than Bay Area or China We’ve been involved in 10/15 directly or indirectly (w/Index)
- #59: iPhone Self-driving cars Health