The Belgian startup ecosystem

While the watchword is innovation or entrepreneurship, one player is going somewhat against the grain. Rather regrettably, Belgium does not rank particularly well when it comes to funding its startups. Disorganized policies, a lack of resources, or overly fierce international competition? It is hard to pinpoint a single factor, as the ecosystem itself can seem bogged down... However, a brighter future is still anticipated for the Belgian entrepreneurial world for several reasons. 

National disorganization

In Europe, the entrepreneurial spirit is more present than ever. Innovative initiatives are being encouraged across the four corners of the continent with varying degrees of fervor. Among the worst performers is Belgium, which pales in comparison to its Swedish or Dutch counterparts, for example. Unlike its neighbors, the flat country invests less in startups and scale-ups. This also results in a considerable loss of ground. This phenomenon is said to be caused by a lack of entrepreneurial and political ambition in Belgium. In other words, if an entrepreneurial momentum were to exist, it would undoubtedly not benefit from reciprocal financial support. Public funds are rarely called upon for this market, and young companies must therefore turn to private entities.

Concrete case in Wallonia

Furthermore, the Belgian economy does not necessarily favor local entrepreneurial stimulation. Provinces squabble among themselves, and the various funds follow a questionable path. Sometimes even beyond the country's borders... For example, it was recently discovered that companies based in Hainaut are investing in Brussels and even Spanish startups (Full article here). The problem is that these companies hold partially public capital. Money is therefore redistributed elsewhere, where it would very likely find a use in financing local entrepreneurship. This is precisely what the city of Charleroi is trying to set up: establishing a thriving digital ecosystem.