This document discusses entrepreneurship and startup funding in Europe. It notes that while Europe produces strong entrepreneurs and startups, access to funding is more limited in Europe compared to the United States. Specifically, the average investment amounts are 5-6 times lower in Europe for seed, early, and late stage funding. However, the document argues that with growing cultural and governmental support for entrepreneurship in Europe, as well as the presence of role models and mentors, the environment for startups and access to funding in Europe is improving and now is a good time to invest in European companies.

1. #MadeInEU
Christian Hernandez Gallardo
@christianhern
Slush. Helsinki. November, 2013.

2. How I ended up here
2

3. How I ended up here
FB Platform #MadeInEU
3

4. How I ended up here
4

5. Who is White Star Capital?
TEAM
10+
5
2
3
100+
Countries worked
in
Languages
IPOs
Acquisitions
M&A deals
PORTFOLIO
Canada
U.K.
Sweden
West Coast
3
Exited
Exited
1
Germany
1
5
3
4
East Coast
1
Portugal
1
France
5

6. Europe, let’s talk about our Valley problem
6

7. What drives Entrepreneurship?
Cultural support for risk taking
Roles models
Support Network
Access to funding
7
Source: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=1448796

8. Cultural support and the “Mom Factor”
8

9. Role models & support network
Heroes #MadeInEU
9

10. Entrepreneurs of all ages and from all corners
Heroes #MadeInEU
10

11. Access to Funding: We’re selling ourselves short!
US Average
Investment by Stage
12
9.8
9.1
5.4
3.4
4.9
4.6
4.5
2.7
2.4
2.5
8.3
7.4
5.1
5
8
4
3
10.9
10
6
European Average
Investment by Stage
5.8
Seed
Early
3.4
2.3
2
0
Late
2
1.6
1.5
1.5
1.1
1
0.5
1.5
0.4
1.5
1.1
0.6
0.3
0.3
2009
2010
1.4
1.1
0.5
0
2007
2008
2009
2010
2011
2007
2008
2011
Source: 1. NVCA; 2. EVCA
Are US companies really 5-6X more
valuable at the early stages of development?
Risk Capital #MadeInEU
11

12. No better time to be long on Europe
Macro
Burning
platform
Angels
& VCs
focused
Density of on seed
Mentors
Global
access via
platforms
Unicorns!
Unicorns #MadeInEU
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13. #MadeInEU