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Dear Qualtrics
By
Accel
Ryan Sweeney
16 Aug
2023
11 Nov
2018
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Europe and Israel’s Founder Factories: GenAI Edition
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Europe and Israel are poised to produce a wave of category-leading GenAI companies as the region’s world-class universities and big tech companies’ local research labs fuel a new wave of founders. Examining the roots of these companies, including their founding locations and founders’ work and educational experiences via Dealroom, the Accel team has identified some key trends. Download the report below
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At a glance
25%
The percentage of GenAI startups where at least one founder has gained experience at companies Amazon, Apple, DeepMind, Facebook, Google, and Microsoft
38%
The percentage of GenAI companies founded by people who hold or have held positions at academic institutions
10
The average number of years that GenAI founders have worked for prior to founding a company
Insights
“
The European and Israeli tech ecosystem is a hotbed for entrepreneurial AI talent. Innovative AI startups are consistently emerging and going on to quickly build ambitious teams and products that attract huge numbers of customers and investors. When looking deeper at these companies’ roots, we begin to see where the main GenAI talent hubs exist in the region and the common paths founders take... Deep-rooted expertise is fueling innovation in the region and suggests Europe and Israel are well-poised to transform the global AI landscape.
GenAI key takeaways
- London (27%), Tel Aviv (13%), Berlin (12%), Paris (10%), and Amsterdam (5%) are the top five cities for GenAI startup creation across the region
- French-founded GenAI companies lead the way when it comes to funding levels, raising $2.29B
- More than two thirds (70%) of the GenAI companies analyzed have announced they have secured $1M or more in funding