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The Dutch startup ecosystem punches above its weight, but we need more ‘unicorns’ that stay and scale here instead of relocating to the U.S. or Asia.

Jacqueline van den Ende

Dutch *Financieele Dagblad* op-ed, 2022 · Checked on 21 March 2026
The Dutch startup ecosystem punches above its weight, but we need more ‘unicorns’ that stay and scale here instead of relocating to the U.S. or Asia.

Analysis

The Netherlands *is* widely recognized as a top-performing startup hub per capita (e.g., ranked **#5 globally** in StartupBlink’s 2023 index), validating the 'punches above its weight' claim. However, while *some* Dutch unicorns (e.g., **Adyen, Mollie**) have expanded HQs abroad or dual-listed (e.g., Adyen’s U.S. IPO), comprehensive data on *systematic* relocation to the U.S./Asia is scarce. Van den Ende’s call for more 'scale-ups' reflects a common policy concern (see **Techleap.nl** reports), but the *extent* of the relocation trend is anecdotal without longitudinal studies. The statement blends **verifiable ecosystem strength** with a **normative, less-evidence-based** critique.

Background

The Netherlands hosts ~3,000 startups (2023) and has produced **25+ unicorns** (e.g., **MessageBird, Bunq**), with Amsterdam ranking as Europe’s **#4 tech hub** (Dealroom 2023). Dutch startups often face **tax incentives** (e.g., 30% ruling) but cite **limited late-stage capital** and **talent shortages** as growth barriers. Comparatively, countries like the U.S. (40% of global unicorns) and Singapore (Asia’s top hub) offer deeper capital markets, though relocation data specific to Dutch firms is not publicly tracked.

Verdict summary

The Dutch startup ecosystem *does* perform strongly relative to its size, but claims about unicorn relocation lack precise, verifiable data to fully substantiate the scale of the issue.

Sources consulted

— StartupBlink. (2023). *Global Startup Ecosystem Index 2023*. [https://www.startupblink.com/](https://www.startupblink.com/)
— Dealroom.co. (2023). *European Tech Ecosystems Report*. [https://dealroom.co/](https://dealroom.co/)
— Techleap.nl. (2022). *State of Dutch Tech 2022: Scale-up Challenges*. [https://techleap.nl/](https://techleap.nl/)
— Crunchbase. (2023). *Dutch Unicorn Tracker*. [https://www.crunchbase.com/](https://www.crunchbase.com/)
— European Commission. (2021). *Startup Nations Standard: Netherlands Country Profile*. [https://digital-strategy.ec.europa.eu/](https://digital-strategy.ec.europa.eu/)