The Belgian startup ecosystem
While the watchword is innovation or entrepreneurship, we are seeing an actor that goes somewhat against the tide. Regrettably, Belgium is not really a good student when it comes to financing its startups. Disorganized policies, lack of resources or too strong international competition? It is difficult to point the finger at a single factor as the ecosystem itself may seem to be dammed... However, we still expect a brighter future for the Belgian entrepreneurial world for several reasons.
National disorganization
In Europe, the entrepreneurial spirit is more present than ever. Innovative initiatives are encouraged in the four corners of the continent with more or less fervour. Among the worst performers, we find Belgium, which pales in comparison to its Swedish or Dutch counterparts, for example. Unlike its neighbours, the flat country invests less in start-ups and scale-ups. This also results in a considerable loss of land. This phenomenon is caused by a lack of entrepreneurial and political ambition in Belgium. In other words, if an entrepreneurial impetus were to be present, it would probably not benefit from reciprocal financial support. Public funds are rarely invoked for this market and young companies must therefore turn to private authorities.
Concrete case in Wallonia
In addition, the Belgian economy does not necessarily play in favour of stimulating local entrepreneurship. The provinces are quarrelling among themselves and the various funds are experiencing a questionable path. Sometimes even beyond the country's borders... For example, we have recently noticed that companies based in Hainaut are investing in Brussels and even Spanish startups (Full article here). The problem is that these companies have partially public capital. Money is therefore redistributed elsewhere, there it would certainly find a use to finance local entrepreneurship. This is what the city of Charleroi is trying to put in place: to establish a prosperous digital ecosystem.
Between insufficient funding and volatile money, the Belgian entrepreneurial ecosystem is decidedly not a favourable universe. There are many points to be improved. In the meantime, 2021 remains a record year in terms of funding, which should hopefully bode well for the future. Belgium is on the right track and can count on its entrepreneurs of tomorrow to develop this sector.
Alternative financing
Faced with this situation, many very young companies are turning to other solutions to finance their project. One of them is on the rise and gaining in popularity: crowdfunding. Also known as crowdfunding, this process allows anyone who wishes to contribute to the financing of a project, with a free amount. This allows project starters to raise a sum of money, which is often necessary for the concrete launch of their business. It is a much more modest system but it allows you to raise essential funds while promoting your project. In addition, it is a way to enhance their investment by financing very young companies that have a positive impact. We give our savings an environmental or social dimension by financing structures that are profitable in addition to having a real positive impact. A situation where the different parties are winners, what more could you ask for?
To learn more about the benefits of working in a startup, check out our dedicated article .
The future of startups
Although the current state of affairs is not grandiloquent, the future of entrepreneurship is still assured. We can already see positive developments in the industry, such as the record-breaking year 2021. As long as the ideas appear, the initiatives will follow. We can only hope that Belgium will be more proactive in its financing system and that internal policies will become clearer.
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