2024 State of Belgian Tech Report

The 2024 State of Belgian Tech Report is an inaugural comprehensive analysis of Belgium's maturing technology startup and investment ecosystem. Produced through a collaboration between Syndicate One, Bain & Company, and Sofina, the report combines current data analysis, a survey of over 130 startup founders, and in-depth interviews with key entrepreneurs and investors. It highlights significant growth in the Belgian tech sector, with investments nearing €500 million in the first half of 2024, surpassing the total funding of €424 million for the entire previous year. The report showcases several positive trends, including the rise of four unicorn companies, increased exit activity, growth in venture capital funding, and a strong focus on AI-driven startups, which attracted over 70% of invested capital in early 2024. While emphasizing the ecosystem's progress, the report also identifies areas for improvement, such as addressing talent shortages and reforming regulations, to further solidify Belgium's position as an emerging European tech hub.