Predictions for 2019 Investing in Underrepresented Founders First-time funds targeting underrepresented European communities emerge The figures are damning. Only 7% funded today. We cannot shy away of all capital invested in European from how difficult it will be to turn tech companies in 2018 went to this tide. Established VC firms have female or mixed gender founding a responsibility to look harder, and teams. We cannot measure the face down their unconscious biases. imbalance in funding allocated to Dedicated funds targeting investment other underrepresented communities, into these communities are also part but those figures would only be of the answer. These numbers have to harder to read. It is even harder to change if we are to fulfil our potential. consider just how much talent and 2019 is the year that new funds will start value has evaporated away from our to make this happen. industry because they are not being Build From Home Founders choose to stay where they are and build from home According to the European Centre for their companies, and the second was Policy Studies, tech talent in Europe defined by entrepreneurs staying to is 10x more likely to move than the build from Europe but choosing one of average citizen in Europe. This is the region’s major hubs (London, Berlin, extraordinary and owes much to the etc.); then we’re entering a third phase historic geographic opportunities where founders choose to stay where of European tech. Europe is set to they are, emboldened by the quality of enter a third phase in the evolution of the local ecosystems they see arising entrepreneurial tech talent mobility. around them all across Europe. The If the first phase was defined by the more that founders and talent choose frequent flow of talented European to build from home, the more that 10x entrepreneurs moving to the US to build difference will contract. 149 In Partnership with & www.thestateofeuropeantech.com