![]() "We're very eager to invest in Europe and in the UK. Success stories like Huddle, Wonga and Mind Candy are starting to give London and Tech City a stage to compete on against the US, and Marakovic reveals he and SAP Ventures are keen to invest here as a result - more so than ever before. ![]() Through a "vibrant angel investor community" Marakovic says gaining money to fund startup development in the US is easier than ever, but British entrepreneurs are, for now, "still stuck with friends and family and money to really kick something off early on, until you have enough proof points to attract investors."īut the tide is turning. For that reason I think you want to have some significant outcomes because of the secondary and tertiary effects that they bring with them."īut this level of success doesn't happen overnight, and when it comes to angel investment and seed funding, the UK and Europe still lag some way behind the mature market of the US, where Silicon Valley is a more proven success than London's Tech City. "So PayPal isn't just an interesting case for success, but you create a whole ecosystem of companies founded by those founders.so that one turned into 100 times the effect. The PayPal Mafia includes Tesla and SpaceX founder Elon Musk, early Facebook investor Peter Thiel, YouTube co-founders Steve Chen and Jawed Karim, LinkedIn founder Reid Hoffman and Yammer founder David Sacks. In the US you have PayPal and the PayPal Mafia who all basically went on to become CEOs of LinkedIn and many others, and became very prolific angel investors." " you have a set of employees who are incredibly wealthy, who can play the game - whether it is to do it all again or invest money themselves. Hungarian-born Marakovic says this ease of starting companies with very little investment - together with advances in both consumer and enterprise technology which make him "giddy with joy" - and a growing entrepreneurial spirit is causing "significant company creation."Īlthough accepting that successful startups can provide a small group of founders and staff with a comfortable living, Marakovic wants to sniff out the billion-pound blockbusters - the Facebooks and Googles of this world - which he says will spawn many new companies in the same way PayPal and the so-called PayPal Mafia have done in Silicon Valley. "If you see how little money it takes to build a product, it's never been as capital efficient as it is nowadays - the availability of fundamental building block technologies.you can start to build a startup with very little money.because it's cheap to start, this leads to more people starting." "In general I think there are some real differences in the dynamics at work here than there were 10 or 13 years ago", the SAP Ventures chief executive and managing director tells IBTimes UK. Nino Marakovic, chief executive and managing director of SAP Ventures.Īlthough the results of Tech City are yet to reach the billion-pound status of Silicon Valley's most successful startups, Marakovic says the technology hubs of London and Europe are on the up - and this growth is very different to the dot com bubble of the late 1990s.
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