Europe leading in ICO Funding
A recent study indicates that over the past three years, European companies have raised more than $ 1.76 billion in Initial Coin Offering (ICO). As a result, European start-ups are clearly ahead of the pack when it comes to selling their tokens worldwide, with a share of 46%.
Last Thursday, the venture capital firm Atomico released a new edition of their study called The State of European Tech. The study can be viewed and downloaded in part or in full on the company’s interactive website.
According to Atomico, start-ups in Europe have accumulated more capital through ICO funding over the past three years than in any other continent in the world. In 446 transactions, a total of $ 1.76 billion worth of capital was collected. At 46%, this was almost half of the capital. More than a third (40%) of the companies that raised funds through this reorganized crowdfunding came from Europe. In second place is North America, with a capital accumulation of $ 1.076 billion.
If current trends persist, Atomico estimates that European companies in the blockchain and crypto scene will remain leaders in the next five years. Compared to 2012, there has been at least a significant increase in companies that have focused on these new technologies.
Robin Klein of the British investment firm Localglobe says in a video of the study that smaller American companies often find it hard to think internationally. European companies, on the other hand, would be global from the start, which is very important for success. It’s not just a disadvantage to start your own business outside of Silicon Valley or the US state borders.
It is also worth mentioning that around a quarter of the companies that were investigated work with a locally dispersed team. A common office for all employees is often not required in this business area. According to the authors of the study, the number of start-ups with a decentralized structure is likely to increase even further over the next few years. We are curious.