European tech: What start-ups can expect in Belgium, the Netherlands, and Luxembourg

Silicon Valley has mostly dominated the narrative around technology startups and although the American region is still king, it’s revitalizing to see simply how far Europe has can be found in current years.
If you’re a business owner, financier, or operating in European tech, you’ll benefit from understanding the basics of the landscape to get a better sense of where the next chance might arise.
Much has actually been written about innovation hotspots such as London– renown for its fintech capabilities– and Paris– where the national government is reinforcing its effort to turn the capital city into a prominent AI center– however other nations and cities haven’t historically got the very same attention nor are they consulted with the same level of interest or examination.
With this in mind, we have actually had a look at the state of tech in the Benelux Union– a politico-economic union and formal global governmental cooperation of 3 neighbouring states in Western Europe: Belgium, the Netherlands, and Luxembourg.
The Benelux is among three environments that TNW and 4 other partners will be seeking to boost in the ongoing X-Europe program. Sponsored by the European Commission, X-Europe will connect 150 start-ups with investment, partnerships, skill, and chances across Europe. By developing a community of stakeholders in the Benelux and beyond, the program will make taking advantage of the opportunities in the Benelux simpler for everyone across the continent.
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Benelux: An introduction.
Before we take a look at the state of tech across each single country, it is essential to get a general sense of how each area differs in terms of population and economy– especially as Europe is known for its fragmentation and the varying degrees of socio-economic maturity across its environments.
Out of the 3 Benelux nations, the Netherlands is the most populous. Today, some 17.1 million individuals live in the Netherlands, whereas Belgium is house to roughly 11.5 million people, and Luxembourg has a population of a little over 600,000
On an economic level, the Netherlands had the highest Gdp (GDP) in the Benelux region– with the figure sitting at EUR774 billion in2018 Meanwhile, Belgium’s GDP stood at around EUR473 billion in the exact same year. Luxembourg, on the other hand, had a GDP of EUR63 billion. To put this into perspective, the UK’s GDP in 2019 was ₤ 2.21 trillion (EUR2.4 trillion) and France’s stood at around $2.707 trillion (EUR2.3 trillion).
When it comes to money, the region’s start-ups do gain from a number of mutual fund. In December 2019, Volta Ventures, revealed its 2nd fund, ‘Volta Ventures II,’ with a preliminary closing of EUR35 million to continue backing early phase, fast-growing business in the Benelux region. Several months previously, Pan-European VC btov Partners closed a EUR100 million investment automobile.
And while these funds are mostly welcomed by business owners in the area, there’s definitely room for improvement when it concerns access to capital.
” There’s not adequate money streaming in the tech community. In cities like London, Berlin, and Paris there are a lot more service angels supporting early-stage start-ups with money and assistance. There are more VC funds deploying capital and governments are pumping money into the tech community,” says Jacob Claerhout, a Belgian VC at Partech, where he focuses on the company’s Benelux’s early-stage financial investments.
Now that you have a general concept of each nation’s size and financial prowess, let’s take a look at how their tech ecosystems com
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