European startups are increasingly maturing to real scale-ups. But to make it big in Europe and become a scaleup, a startup needs to overcome some often overlooked hurdles. We spoke with Patrick Essers, director the Netherlands at EIT Digital about how to prevent the Second Valley of Death when going abroad.
Can you explain: what’s the First Valley of Death?
“The first valley of death is based on the technical details of a startup because that’s what the founders initially are exceptionally good at. But still, a lot of them die in this phase. But when they do find product-market fit and solve a real problem for customers, what’s next? It’s time to grow the company. And then, they face the second valley of death and potentially die again.”