Dutch Push for Tech Growth Amid Stalling Startups

Dutch Prime Minister Dick Schoof aims to revitalize the Netherlands' tech startups by attracting venture capital and minimizing bureaucratic hurdles. Despite a rise in venture capital, only a few firms secured significant funding in 2024. The Netherlands remains challenged by global tech leaders like the US and China.

Dutch Prime Minister Dick Schoof announced efforts to bolster the country's tech startup ecosystem. Speaking at TechLeap's annual gathering, Schoof emphasized the need to cut red tape and invest in artificial intelligence, aiming to attract more venture capital.

The event, held in The Hague, highlighted concerns over slowing growth and fewer small firms securing substantial funding. Despite a 47% increase in venture capital to Dutch firms in 2024, only 104 new companies secured funding exceeding 100,000 euros, a drop from 172 in 2023.

Located in Eindhoven, the Netherlands' tech hub remains crucial for economic vitality, despite challenges from global tech giants like the United States and China. The government aims to create a conducive environment for investment, with two Dutch companies achieving unicorn status in 2024: Mews and DataSnipper.

(With inputs from agencies.)