Amsterdam startup scene

It’s not hard to understand the reason Amsterdam is known as the startup capital of Europe! There are so many thriving new businesses in the Dutch capital, including Adyen, Elastic and Booking.com. Some of the reasons to choose Amsterdam as a base for your business expansion or European startup include:

– It’s an attractive city in which to live and work, with a huge pool of international work talent to draw on for recruitment purposes. The city has an amazing history and a compact size, making it easy to travel between different areas. English is widely spoken so communication is generally not an issue for English speakers.

– Amsterdam is a tech-savvy city, so it’s not surprising companies like Tesla, NextDoor and Netflix chose this location as a European HQ

– Amsterdam has a great infrastructure and connectivity with other major European cities, like Paris, London, Berlin and Stockholm which makes it easy to grow any business. The capital is also home to one of the highest broadband concentrations in the world

Setting up a business in Amsterdam

Amsterdam is ideal for startups as business costs are remarkably low. KPMG highlight that the Netherlands is one of the top countries for low business location costs, particularly in the digital arena and for research and development.

Starting up a business in Amsterdam is remarkably easy. If you’re based outside the EU you can apply for a Startup Visa and will just need an innovative business plan in place and the available financial resources to prove you can exist for at least a year in the Netherlands. What’s more, there are a variety of innovation incentives and R&D tax credits available to provide even more incentive to grow your new business in Amsterdam.

When you initially start up your business you need to pay €50 to register at the local Chamber of Commerce, although incorporated businesses (like a BV) will need to pay for a notarial deed, which costs around €300. It’s not essential to have startup capital prior to registering a BV, either.

Once your startup is registered with the Chamber of Commerce, all details are automatically passed on to the Tax and Customs Administration, known as Belastingdienst. The business is then issued a VAT registration number.

The corporate income tax rate in the Netherlands is 20% on the first €200,000 of business profits, with 25% due on any profits over this amount.

If you’re planning an international expansion, you should get in touch with Goodwille! We’re experts in helping businesses expand to the UK and can provide advice and support with everything you need for a successful expansion. 

The tech problems that startups will address in 2019

Each year, evolving demands for technology-based solutions and emerging worldwide trends create a set of problems that tech startups look to solve in innovative and exciting ways, making them financial successes and disruptors on a global scale.

As we dive into 2019, these are some of the tech areas that we predict tech startups will try to address this year.

Blockchain technology

Bitcoin’s blockchain network is frequently criticised for requiring hugely intensive computing power in order to run. A recent study by Elite Fixtures discovered that in South Korea, one of the world’s leading Bitcoin hubs, the cost of electricity to mine a single Bitcoin is $26,000. In addition to these costs, the cost of setting up and maintaining a blockchain network.

Moving forward, startups will need to look at how they can improve cost and time efficiency for blockchain systems. If this is achieved, cryptocurrencies have a real chance of becoming adopted as a legitimate form of tender for many more companies and customers globally, as the benefits will outweigh the costs to a much greater degree.

Internet of Things

There are currently around 14 billion devices connected to the internet, and this is due to rise in the coming years as the Internet of Things drives innovation and convenience in people’s everyday lives.

Voice-activated devices have begun to have a meaningful presence in people’s homes, but the technology can often be unreliable, inaccurate and expensive, leading to a poor user experience overall. Startups that can create connected devices that are affordable to all demographics and which boast seamless command tools will enjoy a hugely successful 2019.

Payments

Card payments have overtaken cash in 2018 for the first time, but consumers want even more when it comes to paying for their goods. While in stores, contactless cards are all well and good, but the speed and simplicity are nullified if shoppers are still made to wait in lengthy queues to pay.

Technology that allows shoppers to pay for their shopping on-the-go or automatically in stores, creating a fully interactive and swift shopping experience, will be a major trend moving forward in retail. Startups that can produce the necessary technology to create completely frictionless shopping experiences will be successful in 2019 and beyond.

Goodwille has helped some of the hottest Nordic tech startups with starting up in the UK. If you need help with launching your tech startup in the UK, get in touch with Goodwille today.

Three unique factors London’s EdTech sector should take advantage of

For any talk of UK tech firms leaving these islands in the wake of the 2016 Brexit referendum, the trend is turning out to be the reverse. Tech firms, and especially EdTech startups, have much to gain from setting up shop in London. This is thanks to a trio of legal, political and social factors unique to Europe’s largest city.

A very, very friendly government

The British government is more often noted for its history than modernity – visiting American politicians have been known to describe the raucous House of Commons as ‘the Pit’. When it comes to Britain’s technology sector, though, ministers know the value of hands-on support. Chancellor Philip Hammond used a recent trade mission to India to fly the flag for British FinTech and EdTech; Business Secretary Sajid Javid has created a Parliamentary Group for Entrepreneurship; and at 2016’s EdTech UK summit, the Department for Education announced plans for a bespoke British EdTech strategy. Opportunities abound for EdTech companies eying expansion to take advantage of ‘UK Plc’.

Global outlook

One of the more popular refrains these days is that Britain is leaving the EU to embrace the world. A dubious claim for many sectors, this may be more true for EdTech. There are a few unique factors that contribute – English is the global language, leading many startups to look to English-speaking countries in the Far East, especially India and Pakistan, as well as in Africa. Also, communities from around the world are well-established in London, giving the city a unique web of connections with the wider world that give the city’s tech scene a global edge. London is the world’s crossroads – what better place to look out for global opportunities and plan international expansion?

Fierce competition between schools

The capital of the UK is also the country’s most competitive educational ecosystem. In part thanks to a drive to raise standards over the last decade or so, London’s schools are a remarkable success story. The legal and political climate is increasingly ‘hands-off’, giving schools the freedom to innovate and compete. This is to say nothing of London’s universities; no city in the world has more top institutions. The competition between these institutions has created a hotbed for EdTech – especially as UK state schools have plenty of freedom to invest in – and experiment with – new technology.

For more information on London’s tech scene  or how we can support your emerging technology startup in the UK, contact Goodwille today.