Jul 2023 - Startup Success Factors Study Netherlands
Eindhoven, Jul 6th, 2023. We are proud to publish our yearly research report on the state of startups in The Netherlands. For this report, we approached founders of tech startups. We approached a sample of 1.000 leaders and 104 have cooperated with our survey. We have queried them about 13 common success factors. Based on data we’ve explored the relationship between these factors and the performance of these companies in terms of survival, development, valuation and revenue.
Conclusions:
The Customer is still King
Startups with a strong customer focus have 100% more revenue and 62% higher valuation, compared to companies that show less focus.
Personal networks matter
Founders with corporate executive experience raise 28% more funds compared to repeat founders but perform 5% worse.
Startup personality is a thing
The ability to adapt, to share, to ask for help have more than 10 times the impact on valuation, revenue and growth than experience.
Teams make startups
More than just good people, the right combination of people is what counts. Diverse teams are valued higher (+48%), grow faster (72%) and make more money (81%).
Smart founders ask for help
Startups that use external help perform significantly better (+88% valuation, 55% more revenue). Involving investors, formal advisors and clients helps with success.
Valuation is not success
Valuation alone is not a great indicator for success, it is a good indicator for the amount of funding raised.