What happens in the startup scene in The Netherlands right now? Find out in another Dutch startup news update!
News & Updates
mCube acquires motion Enschede-based technology scaleup Xsens
MEMS motion sensors technology provider mCube has acquired Enschede-based motion-tracking technology startup Xsens from ON Semiconductor. Xsens will maintain the Xsens brand and will continue to operate as a stand-alone business unit of mCube from its headquarters in Enschede. Ben Lee, CEO of mCube, in an announcement about the acquisition: “Xsens is focused on being the technology leader in sensor fusion software and 3D motion-tracking applications for use in human body motion and industrial sensor module markets. Miniature, low-power motion sensors such as the products from mCube are an essential component of successful motion-tracking systems. By combining Xsens and mCube under one umbrella we will be able to innovate faster and more effectively, and to develop new motion-sensing solutions that are valuable to both companies’ customers.”
Former Minister Ronald Plasterk joins health startup MyTomorrow
MyTomorrows, a startup that has built a platform to help physicians and patients access drugs that are still in development has attracted former minister Ronald Plasterk as its new Chief Scientific Officer. Before embarking on his political career Plasterk was a highly cited and prize-winning molecular genetics. At the time prime of his scientific career he was a potential candidate for a Nobel Prize ( in Dutch).
Too much money in Dutch Venture capital
Dutch business news outlet Sprout says (in Dutch) based on data published by Preqin that Dutch VC and private equity firms have never raised so much money as in 2017. The firms managed to raise 10 billion euro in total, 3 billion more than 2016. Although this might be considered a good thing, the question is if that’s really the case, specially for early stage startup funding. So the question is whether there is a surplus of money. Too much money is, as recent memory shows, often more a bad thing than a good thing for startups.
Funding
Self-healing concrete startup Green Basilisk raises seed money from SHIFT Invest
Delft-based startup Green Basilisk has raised an undisclosed amount of seed money from SHIFT Invest. The capital raised will be used to accelerate the international expansion of the company. The company has developed a so-called self-healing additive that contains specific bacteria that start producing limestone when in contact with oxygen and water, creating an autonomous repair system that closes cracks in concrete. This enables the company to increase the durability and service lifetime of concrete structures for its clients, while at the same time reducing maintenance, repair and downtime.
High tech startup ASI raises seed investment from Nascent Ventures
Amsterdam Scientific Instruments, ASI in short, has raised a seed investment from a group of investors led by Nascent Ventures. Other investors in the startup include the hightech micro fund TechNano Fund in Bilthoven. The investment is not disclosed, but based on our assumptions of both VC firms ticket size our estimate is that it’s a seed investment between half a million and one million euro. ASI is a spin-off of the world-renowned physics research institutes AMOLF and Nikhef. It delivers camera systems for X-ray imaging and electron microscopy.
Monday Read
Zero-Million or Zero-Billion Dollar companies
In startup land one of the main learnings people impart on each other is to focus on building the right culture. For many it’s not a big suprise that culture is important. But how does culture influence the functioning of a company concretely. This is because at its core, culture is a set of informal rules and regulations. An incentive structure if you will. Oliver Williamson’s Four Layer Model demonstrates that incentive structures, especially cultural norms and standards can take a lot of time to change because of path dependence and belief systems that are resistent to change. According to Sun Microsystems founder Vinod Khosla it’s this premise that defines from the beginning whether startups are building a zero-million or a zero-billion dollar company. Khosla: “The difference between these types of companies is the attitude, ambition, but mostly the type of team you built. “ More than the (business) plans, because they change often and quite easily. So the first ten people you hire will define the DNA of your company, even when they themselves are long gone. Watch this Stanford Class interview of Khosla for more nuggets of great entrepreneurial wisdom.
Photo by Caroline Hernandez on Unsplash