NGP Capital analyzes Europe's most successful startup founders

Data analysis over a decade: How Europe's startup founders are making a difference - insights from 31,644 founders and 17,836 startups.

London, December 3, 2024 - NGP Capital, a leading global venture capital investor, today published the report "A Decade of European Startup Founders". The report provides a detailed analysis of the European startup ecosystem and the founders who have driven its development over the past decade.

It examined 17,836 tech startups and their 31,644 founders to find out what characteristics distinguish successful teams. Factors such as team size, academic background and professional experience were analyzed to identify patterns for successful access to capital and company building.

Europe's startup ecosystem is characterized by a strong focus on academic qualifications and diverse founding teams

Bo Ilsoe, Managing Partner at NGP Capital

Key findings from the report

1. Academic background is key: founders with higher degrees, especially PhDs and MBAs, secure significantly more capital PhD founders from the top 10%-Startups receive on average 66% more funding than others.
2. Universities with influence: Alumni of British universities, especially Cambridge, INSEAD and Oxford, dominate the startup scene.
3. Professional experience as a springboard: Founders with a past at leading consulting firms such as McKinsey, Bain and BCG have clear advantages.
4. Optimal team size: Four co-founders achieve the highest financing rounds - 208% more than teams with two founders.
5. Diversity counts: Teams with mixed technical and operational skills as well as international and mixed-gender teams perform better.

Unique ecosystem in Europe

Bo Ilsoe, Managing Partner at NGP Capital, explains: "Europe's startup ecosystem is characterized by a strong focus on academic qualifications and diverse founding teams, which creates a rich foundation for innovation. But to become a global leader, we need to nurture the next generation of founders and continue to build diversity."

The analysis is based on data from NGP Capital's analytics platform Q. With $1.6 billion in assets under management, NGP Capital invests in early-stage B2B startups in Europe and the US, particularly in the areas of industrial tech, cybersecurity and edge computing. Further background information can be found on the NGP Capital homepage.