We are pleased to announce that our latest research has been published in Research Policy! The study, titled "Venture Capital and the International Relocation of Startups" by CEFS members Stefan Weik, Ann-Kristin Achleitner, and Reiner Braun, provides the first systematic and reliable data on the international movement of startups. Previously, we had to rely on anecdotes and guesstimates, but now we have hard facts based on a unique dataset of 11,000 VC-backed startups from 17 countries in Europe.

Key findings:
1.      6% of European startups relocate across borders, which account for 17% of all created startup value, and most of them move to the US.
2.      Foreign VC, particularly from the US, is a strong predictor of relocation.
3.      Contrary to popular belief, and perhaps most surprisingly, startups relocate when they are very young.

We are also proud that Handelsblatt has featured an article on our research. The article, titled "Wie Europa die Abwanderung seiner Startups stoppen kann" by authors Achleitner, Braun, and Weik discusses how Europe can address the outflow of its startups.

Read the Handelsblatt article for more insights (in German): Wie Europa die Abwanderung seiner Start-ups stoppen kann
Explore our full research publication: Venture capital and the international relocation of startups