July 2024 Unveiling the Thriving StartupEcosystem of Ghent Did you know? We boldly claim the title of Europe's Tech Capital. According to Dealroom data,the Ghent tech ecosystemencompasses: In the following pages, you can read why Ghent is one of the fastest growingtech-hubs in Europe. Located at the heart of Belgium's dynamic entrepreneuriallandscape, Ghent has a high success rate for startups transitioning into establishedplayers. 920+»Startups and scaleups310+»VC-backed startups110+»Health startups60+»Foodtech startups70+» Startups funded since2023 The report delves into the city's well-developed ecosystem, offering an in-depthanalysis of resources available to tech ventures. Here, experts stand ready to guideentrepreneurs on strategy, definition, and growth supervision. Additionally, Ghentoffers a wealth of networking opportunities and access to capital. The city fostersinnovationthrough state-of-the-art incubators,accelerators,and co-workingspaces. Beyond resources, Ghent cultivates a thriving community focused on a uniqueblend of healthtech, biotech, digital tech, and an emerging cleantech ecosystem. In2023, we even ranked 10th in Europe for Health investment. This exceptionalconcentration of expertise, coupled with our collaborative spirit, makes Ghent abreeding ground for impactful advancements and commercially viable businesses. Leading companies are taking notice. Several European giants have chosen Ghentfor their offices. Venture capitalists are flocking here too, recognising the immensepotential that lies within our city. 1The rise of Ghent tech2Ecosystem today3Outlook "The Ghent Startup Ecosystem is at athrilling inflection point. A pay-it-forward culture is sparking a flywheel effect, making ita hotbed for innovation and entrepreneurship. The firstgeneration of founders and entrepreneurs are igniting newventures and reinvesting in the community. Every week, freshstartups emerge, ready to scale fast, fuelled by an ever-growingpool of talent and venture capital." Pieterjan BoutenFounder & General Manager Page/ 4 Ghentʼs techecosystem isnow valuedabove €34B. Ghent is one ofEurope'sfaster-growingtech ecosystems. Mapping Ghent's Startup Ecosystem: Rising Stars to Unicorns. Ghentʼs growth has been driven by health startups, which alone account for 80% ofthe total enterprise value. Ghent University plays a pivotal role in supporting the tech ecosystem,highlighting Ghent's role as a science hub. 3,500+Jobs at Ghent-basedSpinouts. €1.8BCombined enterprisevalue of Ghentspinouts*. 150+Spinouts fromGhent University(100+ based in Ghent) Spinouts from Ghent University by sector»View online Notable foreign companies are setting up (R&D) offices in Ghent. 1The rise of Ghent tech 2Ecosystem today 3Outlook After a record year in 2021, VC investment has now settled above pre-peak years,with 2024 looking promising. VC investment into Ghent startups, yearly » View top rounds ▊€4–15m (series A)▊€1–4m (seed)▊€0–1m (pre-seed) Late stage▊€250m+▊€100–250m Breakout stage investment is on the riseagain after 2022ʼs drop with 2024 levels todate being 92% of the previous year. Early-stage investment has remainedrelatively stable over the past 5 years. Leading fundingrounds into Ghentstartups in 2023 &2024. "We are in love with Ghent. The city isbuzzing with talent, drive, and aninsatiable thirst for innovation. In recent years, Ghent has emerged as a thriving startup hub, amagnet for creative minds and daring entrepreneurs. Thissurge isn't happening in a vacuum. The supportive ecosystemof angel investors, venture capitalists, and innovative start-upsthemselves are all riding the same wave of entrepreneurialspirit." Mikaël Wornoo(COO),Andreas De Neve(CEO)andJeroen Van Hautte(CTO)Co-Founders Page/ 15 Ghent ranks highamong itsEuropean peersfor 2023 VCinvestment andgrowth since2019. Ghent companies by sector Health,EnterpriseSoftware andFoodtech havedominated thelast 5 years of VCinvestment. In 2023 alone, Health startups accounted for 82% of total VC investment. Top sectors by VC investment in 2023» view live Ghent ranked10th in Europefor Healthinvestment in2023. "Ghent has established a uniqueEuropean position as a Healthtech hub.Not by attracting large companies orheavy investments.... It came about through the intense collaboration betweenscience and entrepreneurs fueled by a lot of talent with highambitions and lots of enthusiasm. The ecosystem is reinforcingitself, so entrepreneurs are now also becoming investors inorder to pass on their knowledge and resources to the newgeneration." Page/ 21 Discover the top 50 startupsin Ghent City Region usingpredictive signals. Dealroom has launched a powerful predictive algorithm todiscover the most promising companies, Dealroom Signal. The input for each Signal's algorithm includes company growth (team size,product growth), founders strength, completion score and contextual data(does the company fit into segments of interest), timin