Netherlands
The Netherlands
"The Netherlands is emerging in 2024 with two newly-minted unicorns, solid investment performance in Deep Tech, and an increase in university spin outs. The ecosystem is doubling down on essential sectors such as Health, Food, and Semiconductors."
Highlights
The Netherlands is a fertile breeding ground for startups with funding, highly skilled talent, innovation hubs, and international ecosystem events boosting a lively tech hub. In 2023, Dutch VC-backed startups created 256,000 jobs globally and 151,000 jobs in the Netherlands. Dutch startups raised more than $2.2 billion in 2023, with the number of deals rising to 414 in 2023 from 393 in 2022. International tech giants, including Tesla, Meta, IBM, and Google have offices in the country. Additionally, the Netherlands continues to produce outstanding companies, marked by the emergence of two new unicorns in the first quarter of 2024: Datasnipper and Mews.
The Netherlands' tech ecosystem thrives across different sub-sectors, notably Health and Life Sciences, Agri-Food, and Semiconductors. With a robust presence in health tech and biopharma, exemplified by significant funding secured by VectorY Therapeutics and Tagworks Pharmaceuticals, Dutch innovation is at the forefront. The country's Agri-Food sector ranks globally, attracting global players like Nestlé and Unilever, while semiconductor giants like ASML and Nearfield Instruments bolster its technological prowess. The Netherlands attracts startups with a plethora of advantages, including access to global talent and a supportive entrepreneurial ecosystem, exemplified by initiatives like startup visas and an array of support organizations. The government's commitment, through initiatives like Invest-NL and the National Technology Strategy, further enhances the ecosystem, positioning the Netherlands as a prime destination for tech innovation and entrepreneurship.
Ecosystem by the Numbers
Sub-Sector Strengths
Health and Life Sciences
The Netherlands is pivotal in advancing health tech and biopharma. This year, VectorY Therapeutics (€129M) and Tagworks Pharmaceuticals (€59.53M) secured substantial funding, highlighting sector growth. With eight University Medical Centres, 3,100+ Life Sciences startups, and 420+ biopharmaceutical startups backed by 26 advanced campuses, Dutch innovation thrives. Major players like Janssen Pharmaceuticals and Philips Healthcare drive this dynamic ecosystem. This progress showcases the sector's vigor and its capacity to revolutionize health and Life Sciences.
Agri-Food
The Dutch Agri Food sector ranks second in global exports. Wageningen University & Research is a renowned hub for Agri Food research. Startup initiatives like Startlife and WUR Starthub foster early-stage acceleration. Regional embedding is ensured through projects like FoodValley, FoodTech Brainport, and Brightlands Future Farming Institute. The Netherlands leads global Agri Food R&D with nearly a billion dollars invested, attracting major corporations such as Nestlé, Coca-Cola, Unilever, Cargill, and Kraft Heinz to operate research facilities in the country.
Semiconductor
The Dutch Semiconductor sector, centered in Eindhoven, hosts leading global players, boasts high patent rates and has a dense ecosystem. ASML dominates as a supplier of chip manufacturing machines. Key players include NXP Semiconductors, ASM International, BE Semiconductor Industries, and Nearfield Instruments. In September 2023, Nearfield Instruments secured €38 million, showcasing the Netherlands' pivotal role in semiconductor innovation and industry advancement.
Reasons to move your startup to The Netherlands
Global Talent
The Netherlands’ tech industry is a magnet for global talent. Ranked first in the EF Global English Proficiency Index 2023, it has the highest level of non-native English speakers worldwide. Additionally, the Global Talent Competitiveness Index 2023 ranked The Netherlands #5 overall for talent competitiveness, demonstrating its high appeal to international workers.
Entrepreneurial Ecosystem
The Netherlands, renowned for its international outlook and welcoming attitude towards foreign businesses, offers a supportive ecosystem for entrepreneurs. Through initiatives like the Startup Visa and the Residence Permit for essential startup personnel, the Netherlands facilitates the seamless integration of foreign founders and their essential team members. Amsterdam, in particular, stands out as a prime destination, boasting top rankings in connectivity (#1) and business friendliness (#4).
Innovation hub
The Netherlands, ranking 7th on the 2023 Global Innovation Index, excels in science and technology, with cities like Eindhoven housing the High-Tech Campus, Utrecht emphasizing research and development through the Utrecht Science Park, and Amsterdam fostering collaboration in sustainability at Matrix ONE, attracting global innovators and solidifying its status as an innovation hub. Six Dutch universities rank among the top 100 in the world.