Additional terminology

To cover all terms, find the remaining ones here

Unicorn

Companies founded since 1990 that reached USD $1 billion valuation. Also includes companies that have since dropped below the $1B mark after going public.

Sometimes represented as EUR 800M, which is a rounded version of USD 1B.


Future unicorn
Fast-growing companies with valuations between USD $250M-$1B

Sometimes represented as EUR 200-800M, which is a rounded version of USD 250-1B.

Some queries, like the ones present in European Startups, are tailored towards more ‘recent’ future unicorns. In fact, the ‘last funding year minimum’ filter is also applied on top of the valuation range. They also exclude acquired and public owned companies.


Funding rounds
Excludes Grant rounds and rounds for companies with an "outside tech" model


Ecosystem value
Sum of the valuations of all startups in the ecosystem. Using estimated valuations based on most recent VC rounds, public markets and publically disclosed valuations.


Zebra
“These are companies that, instead of seeking to blitz-scale their way to market dominance, fuelled by multiple venture capital fundraising rounds, prioritise profitability. Zebras also tend to be focused on equitable ownership and building sustainable businesses, and they seek to create a positive social impact, for example by providing solutions for underserved markets or prioritising employee happiness” (Source).

Snowball effect/ Startup Mafia/ Founder Factories
Early tech ecosystem success not only creates value and belief for a community but breeds a generation of operators who know how to start and scale successful businesses, who have the right network and at times the exit capital to start their next venture. It starts a snowball effect of success. Most famously in the US, the founder and first-hire alumni of the "PayPal Mafia" went on to found Tesla, LinkedIn, Palantir, SpaceX, Square, Slide, Kiva, YouTube, Yelp, and Yammer. Others would go on to invest in countless West Coast success stories, including PayPal founder Peter Thiel, who invested in Facebook when it still had a 'the'. These are the European Startup Mafias. The training grounds that became the founder factories fuelling the European startup ecosystem. Check this landscape for some examples.

 

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