NYC: A Natural Home for European Entrepreneurs

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Presentation for the inaugural NYC European Tech meetup on August 27, 2014. Examines the current state of European startups in New York. Makes the (fairly obvious) case that New York is a very natural landing spot for European tech entrepreneurs.

Text of NYC: A Natural Home for European Entrepreneurs

  • 1. New York: A Natural Home for European EntrepreneursMatt TurckManaging DirectorFirstMark CapitalAugust 27, 2014

2. About MeMatt TurckTwitter: @mattturckBlog: www.mattturck.com2 3. When you think of Europeans in NYC, you may be thinking of this3 4. or this4 5. or this.5 6. Where you might think Europeans work in NYC6 7. True, but increasingly: this.7 8. Turns out theres very little difference between an American geek8 9. and a European geek9 10. Europeans are a key part of NYCs tech ecosystem10MediaE-CommerceConsumerHardwareBig DataFinTechAd/MarketingHealthEnterpriseNote: The above companies have at least one European co-founder and have either their HQ or their US HQ in NYC. NOT A FULL LIST! 11. Founders come from all over Europe11United KingdomIrelandBelgiumFranceEstoniaIcelandSpainSwedenItaly / MaltaArmeniaNetherlandsPolandNorwayPortugalGermanyDenmarkNote: The above companies have at least one European co-founder and have either their HQ or their US HQ in NYC. NOT A FULL LIST! 12. They come to NYC via different paths1.Founded in NYC2.Founded in Europe and grown in NYC3.Founded and grown in Europe then grown in NYC4.European company with NYC presence12 13. Immediately recognizes potential of launching company in NYCEuropean already living in NYCMoves to NYC pre-launchBuilds, grows, and scales company in NYCOften works with NYC accelerators, incubatorsExample success storiesPath 1: Founded in NYC13 14. Company founded in EuropeQuickly realizes that needs to engage US market to grow and achieve scaleOften pre-funding or series seedOpens NYC headquarters to lead US growth and scaling operationsExample success storiesPath 2: Founded in Europe and grown in NYC14 15. Company founded in Europe and begins to grow and scaleOften has received series seed / A funding from European investorsGains traction in European market but recognizes that needs to directly target US to achieve full scaleOpens NYC office to lead US effortExample success storiesPath 3: Founded and grown in Europe then grown in NYC15 16. Company founded, grown, and scaled in EuropeOpens NYC base for more efficient US customer base expansionMigrates mission-specific team and / or hires local talentExample success storiesPath 4: European company with NYC presence16 17. Many NYC VCs invest in or have backgrounds in European tech17Investors with a European backgroundMatt TurckFirstMarkCapitalAlbert WengerUnion SquareVenturesEric HippeauLererHippeauVenturesUrsCeteBDMIJohn BorthwickbetaworksAndrew ClelandComcastVenturesJohn FrankelffVentureCapital 18. NYC VCs invest in Europe18 19. European VCs invest in NYC19 20. Accelerators and incubators introduce European entrepreneurs to the NYC tech ecosystemMany events focused on European startupsVentureOutItalyVentureOutUKHackers & HefeweizensSwiss Tech NightThe French (tech) ConnectionNordic High Tech & DesignStartups & MeatballsTechstarsNYC success storiesIncubators and accelerators have been a launch pad for European startups in NYC20 21. Several government organizations in place to support European startupsVarious initiatives to encourage international entrepreneurshipWorld to NYC, Berlin to NYC, NYC Venture Fellows, NYC Next IdeaGovernment and community organizations provide a strong support network21Strong support network within the European NYC tech communityVarious meetupsand community organizations to connect and engage European entrepreneurs 22. NYC is a natural home for European startupsOur Top 10 Countdown:22 23. Reason #10Better time zone difference (compared to Bay Area)23 24. Reason #9Shorter/cheaper flight24 25. Reason #8NYC has a tightly knit and highly supportive startup community25Hardwired NYCData Driven NYCNY Tech Meetup 26. Reason #7Plenty of talent (tech + design), comparatively less competition26 27. Reason #6B2B: NYC is home to many potential business customers (capital of finance, fashion, media, advertising, food, etc.)27 28. Reason #5B2C: as the densest, most populated city in the US, NYC provides an ideal diverse customer base for consumer-focused startups28 29. Reason #4Plenty of investors!29 30. Reason #3Hard to feel homesick30 31. Reason #2NYC is all around awesome31 32. Reason #1And, did we mention great parties?!32 33. Heres to the futureRapid development over the past couple of years; only increasing in velocityMany exciting companies to follow and encourage: stake claim in the NYC tech ecosystem33