Activity is thriving given profound new opportunities for process automation and a tipping point in stakeholders’ openness to innovation. In the coming decade, developers will have a greater impact on the future of healthcare than doctors.
A quarter of new AI startups are consumer companies, as entrepreneurs address or circumvent the ‘cold start’ data challenge.Just one in ten provides a ‘horizontal’ AI technology. Nine in ten AI startups address a business function or sector (‘vertical’).Italy, Sweden and Germany ‘punch above their weight’ in core AI technology, while there is support for Nordic countries’ reputation for deep tech expertise.France, Germany and other countries may extend their influence in the decade ahead, spreading the benefits of entrepreneurship more evenly across Europe. While the UK remains the powerhouse of European AI, its share of European AI startups, by volume, has slightly reduced. Immigration, which correlates with entrepreneurship, has deepened the Country’s talent pool. Spain’s contribution to European AI exceeds its size.High-quality talent, increasing investment and a growing roster of breakout AI companies are creating feedback loops of growth and investment. Germany and France are thriving European AI hubs.We provide a map of the UK’s AI startups and feature 14 leading companies. The UK is the powerhouse of European AI with nearly 500 AI startups – a third of Europe’s total and twice as many as any other country.Expect: acquisitions to recycle capital and talent startups competing with ‘scale-ups’ as well as incumbents and increasing competition for talent. One in six European AI companies is a ‘growth’-stage company with over $8m of funding.
The European start-up ecosystem is maturing.Today, one in 12 put it at the heart of their value proposition. In 2013, one in 50 new startups embraced AI. AI entrepreneurship is becoming mainstream.
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Europe is home to 1,600 early stage AI software companies.While the UK is the powerhouse of European AI, Germany and France may extend their influence. Europe’s 1,600 AI startups are maturing, bringing creative destruction to new industries, and navigating new opportunities and challenges. The landscape for entrepreneurs is changing.
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