Belgium ranks tenth in the European list of countries with the most scale-ups, with a strong presence of SaaS companies, according to the first European ScaleUp Monitor of the Erasmus Center for Entrepreneurship in Rotterdam, which researched 13,944 innovative companies in 45 European cities. The top twenty is led by the United Kingdom, followed by France and Germany. London is the city with the most scale-ups, Paris and Stockholm complete the top three.

The European ScaleUp Monitor 2020 is a report, in collaboration with international partners, that studies the scaleup landscape in Europe. It offers a platform that centralises European knowledge around opportunities, challenges, best-practices and other salient elements of the process of scaling-up and the emergence of scaleups in various countries as well as regional ecosystems. Starting with this publication, more in-depth reports will follow in the coming months. 

The European ScaleUp Monitor 2020 shows that: 

  • 80% of scaleups concentrate in the Top 10 Scaleup Countries in Europe and 44% in the Top 20 Scaleup Cities
  • The UK is the country with the highest amount of scaleups and boasts 5 cities in the Top 20 list, namely London (#1) – with 46% of the entire country’s scaleups, Cambridge (#12), Edinburgh (#16), Manchester (#17) and Oxford (#19). 
  • Smaller countries count too. Sweden is the #4 country in the amount of scaleups and Stockholm the #3 city; the Netherlands is country #7 and Amsterdam city #8.  
  • Germany has the highest proportion (25%) of young scaleups (<5 years old) and Italy, the oldest (40%) (>25 years old) 
  • The most prominent verticals that scaleups operate in are Industrials (especially in France, #2), SaaS (Ireland and Belgium), and Manufacturing (Italy). Contrary to older scaleups that operate in more traditional sectors, young scaleups (<5 ys old) are driving growth also in the most upcoming industries, such as Mobile, AI & Machine Learning, CleanTech, and Life Sciences. 
  • Venture capital represents 35% of all the funds invested in scaleups and tends to invest more in SaaS, Mobile, AI & Machine Learning, FinTech and Big Data. London, Paris and Dublin are the cities with the scaleups with the highest total capital raised. 
  • 40% of scaleups have at least one international office located outside of their European headquarters.  

Download full report here

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