(Editor’s note: This edition of the Eindhoven Business Briefing is part of Dispatches’ Tech Tuesday series. Dispatches covers tech because so many of our highly skilled internationals are engineers and entrepreneurs.)
When it comes to cherry picking the best global talent, strategy can only take you so far. You need luck, and 5 November 2024 was Eindhoven’s lucky day. Really, Europe’s lucky day, its golden opportunity to attract the best American talent. With the reelection of Donald Trump, Europe is about to get a whole lot more attractive for American talent.
Or will Europe’s own shift rightward negate the benefits?
The past may not predict the future. But assessing Trump’s decades of business blunders, a first presidential term that included an attack on the U.S. Capitol and his increasingly dark rhetoric and unhinged behavior during his 2024 campaign, we have a difficult time believing that Donald Trump is going to magically transform into a “the very stable genius” he claims to be. This second Trump administration will be far worse than the first – a tragic, declining character surrounded by bad people.
The increasing political and economic instability sure to follow will make top American tech talent and entrepreneurs more open to overtures from companies such as ASML and NXP, who struggle to find great engineers and physicists as Europe ages and retires.
As we’ve written so many times before, the United States rules the lists of the Top 100 tech companies ranked by capitalization. Apologies to Oxbridge, ETH Zurich, École Polytechnique and Delft, but MIT, Harvard and Stanford turn out grads who are both exceptional talents and entrepreneurial.
Dispatches has always been about the global mobility of talent. We believe people should have the fundamental right to live wherever they want to live. Americans already are looking for options. We want to see Eindhoven at the top of the list for American tech and management talent.
The Netherland’s game to lose
This is Europe’s moment … and the Netherland’s game to lose. Which looks like the way it’s going as part of the plan to Make the Netherlands Great Again.
The Dutch government is cutting 1 billion euros in R&D funding. Representatives of more than 20 leading companies have written to the Dutch government to warn of the consequences of cuts for education, research and innovation, according to Research Professionals News.
“Cuts to knowledge and innovation are in fact cuts to the future earning capacity of the Netherlands,” warns the letter. Signatories include Dirk De Bilde, CEO of Siemens Netherlands, and Rob Postma, CEO of Airbus Netherlands.
As with Trump, the Dutch populists don’t care about prosperity, innovation or the economy, only about showing their base that they care about their two fundamental issues – stopping immigration and transitioning to an Orbán-style illiberal democracy. What they forget is that in the Netherlands, the pension funds are all invested heavily in tech. If the talent goes away and the economy falters, with cuts to social welfare, Dutch voters won’t thank them for that.
If you want to understand the thinking when it comes to internationals, read this interview with Rosanne Hertzberger, a member of the Dutch House of Representatives from Pieter Omtzigt’s New Social Contract Party.
Internationals: Scapegoats for Dutch housing shortage
We are fully aware there will be pushback if Americans really do start showing up in droves. But we also know that whole argument that expats drive up housing costs and cause shortages is – what’s the word in Dutch? – bullshit.
Pieter Omtzigt and others in the Dutch government are pushing to limit the number of highly skilled internationals working at Dutch companies, arguing they get tax breaks (the 30-percent ruling) that give them an advantage in the overheated housing market over Dutch citizens.
Data from the NVM, the Dutch association of real estate agents shows that while internationals have been purchasing an increasing number of homes in the Netherlands, their impact is minimal, totaling fewer than two percent of houses purchased.
Home prices in all 21 municipalities are now again higher than the 2022 peak, according to CBS, the Dutch governmental statistic agency. In Eindhoven, prices were 14.3-percent higher than the previous peak – the largest difference in all 21 Dutch municipalities. But that’s to be expected considering the growth, here.
Highly skilled internationals drive U.S. tech success
Dear Pieter Omtzigt,
You probably don’t realize this, but the population of the Netherlands is 18 million people. About 20 percent of Dutch citizens are over 65 years old. No way you create enough domestic talent to power your semiconductor industry or even your banking and finance sector.
You need foreign talent … like the talent Trump will likely discard.
Stanford Professor Ilya Strebulaev at Stanford’s Graduate School of Business Venture Capital Initiative just published these findings from his research:
• Sixty-five countries have produced at least one founder of a U.S.-based unicorn.
• Europe: The United Kingdom leads with 31 founders, followed by Germany (18), France (17), Russia (14), Ukraine (12), and Ireland (10).
• Asia: India leads with 90 founders, followed by Israel (52), China (27), and Taiwan (12).
• Africa: No countries with 10-plus founders. South Africa leads with five.
• (South and North) America: Canada leads with 42 founders. There are no countries in South America with 10-plus founders; Brazil has nine founders.
• Australasia: No countries with 10-plus founders. Australia and New Zealand produced eight and six founders, respectively.
E Ink makes Eindhoven its European HQ
Now for some good news.
We missed the arrival of E ink at High Tech Campus. This is a big deal because HTC 69 is now the European headquarters for this company, which has a 95-percent market share of the global ePaper market. E Ink is a publicly traded company based in Taipei. Founded in 1997, it is the creator, pioneer and market leader in ePaper technology. With more than 3,000 employees worldwide, E Ink brings a small team to Eindhoven but has big plans for expansion.
Replacing LEDs
E Ink’s technology utilizes microscopic particles called microcapsules, containing ink placed on a substrate to form an image. E Ink displays offer several advantages over traditional LCD screens, such as higher readability in direct sunlight, lower power consumption and reduced eye strain.
E Ink makes color displays for everything from e-readers to sales displays to digital information display panels for airports and other public spaces. Oh, and check out the BMW above, with E Ink thin film panels.
Brabantse Ontwikkelings Maatshappij (BOM), the economic development agency for this part of the Netherlands, has worked 10 years to bring E-Ink to Eindhoven. according to our sources.
High Tech NEXT now open to the public
A reminder: High Tech NEXT on 20 November is open to the public, but it’s sold out. HTC is keeping a wait list, however. This is, of course, the 25th anniversary of High Tech Campus Eindhoven and the theme of High Tech NEXT is “25Y HTCE: What’s NEXT?”
Program & Speakers:
- Noon – 13.00: Walk-in and demos
Experience live demos from innovative Campus companies, offering a behind-the-scenes look at (emerging) technologies such as AI, VR/AR/Spatial web, MedTech, Integrated Photonics, Semicon, Electronics and more.
- 13:00 – 13:15: Growth of High Tech Campus Eindhoven
Speakers are campus CEO Otto van den Boogaard and Head of Strategy Paul van Son.
Attend a brief yet comprehensive presentation on the future growth and development of High Tech Campus Eindhoven in the coming years. Discover how HTCE plans to meet the evolving needs of the current market.
- 13:15 – 13:45: Panel 25Y HTCE: What’s NEXT!?
Panel members are Ton van Mol (TNO), Clara Otero Perez (NXP) and Derya Eker (Synopsys)
Engage with a panel of industry leaders as they share perspectives on the future of their organizations, their industry, the Brainport region, and the Campus. Gain insights from their experiences and participate discussions on the opportunities and challenges that lie ahead.
- 13:45 – 14:45: Keynote “Go Digital, Stay Human”
In an era where technically skilled professionals are increasingly scarce, Kromme will present a vision of how AI can enable us to focus on soft skills and creativity. This shift empowers businesses to collaborate more effectively, innovate faster, and make a meaningful impact on society.
- 14:45 – 16:00: Expo with live demos (continued)
- 16:00 – 18:30: Networking, drinks & BBQ snacks
Get a unique glimpse into the newly opened Lucis One at HTC 91 for networking, drinks, and cozy winter BBQ snacks on the 4th-floor rooftop.
The event is free and you can sign up for the wait list here.
Drinks and Demos’ 100th edition
This is an Eindhoven institution, an event dedicated to pitching and networking, started 10 years ago by Bert-Jan Woertman and Hans Meeske. On 4 December, Drinks, Pitches and Demos will celebrate its 100th event at the Conference Center at High Tech Campus Eindhoven.
We remember the early days in the old Philips cyclotron building in HTC 12, with just a few attendees sharing beers, chips and stories. Since then, we’ve gone to DP&Ds at various locations across Eindhoven and watched the crowds and the sophistication of the pitches grow.
Don’t miss this huge gathering of the startup ecosystem.
It’s free and you can register here. CU there.
Fe+male Tech Heroes gives thanks
Like Halloween, the American Thanksgiving is coming to Eindhoven in the form of a Fe+male Tech Heroes gathering at High Tech Campus Eindhoven.
For the uninitiated, Thanksgiving is a national non-religious feast day in the United States dating back to the Pilgrims and Native Americans, celebrated with turkey and all the trimmings such as dressing and cranberries. Dispatches’ own Cheryl Boyd collaborated with Campus caterer Jasper Kortsmit and Jeanine Konings to design the traditional Thanksgiving menu we know as Southerners.
The keynote will be by Betsabeh Madani-Hermann, Global Head of Research at Philips
There will also be a fireside chat with Evangelia Demerouti, full professor at TU/e.
The date is Thursday, 28 November, which is Thanksgiving in the States
- The time is 4:45 p.m. to 9:30 p.m.
- The place is The Lounge | High Tech Campus Eindhoven
- Attire: Casual Elegance
- The price is 45 euros per dinner ticket and you can get yours here.
There are only about 10 spots left, so don’t dilly-dally.
Fe+male Tech Heroes is a group dedicated to celebrating, supporting and encouraging women in tech.
Briefs
• ONWARD Medical, the Eindhoven-based medtech company creating spinal cord stimulation therapies, raised 50 million euros by way of an accelerated bookbuild offering through a private placement of 10 million shares with institutional investors. A bookbuild offering involves the sales of shares at a floor price over a brief period when a company needs capital quickly but doesn’t want to go the senior-secured loan route.
•Whispp was honored as TIME’s Best Invention of 2024 in Accessibility for its innovative real-time assistive voice technology. The Leiden-based startup is part of Eindhoven-based LUMO Labs‘ latest cohort. Whispp has created technology that restores the voice of millions of people affected with speech and voice disorder. “Voice disabilities and speech disorders significantly impact one’s daily life and sense of happiness,” said Whispp CEO Joris Castermans. “Whispp’s recognition as one of TIME’s Best Inventions highlights our commitment to empowering people with voice disabilities to communicate naturally and confidently, whether on calls, through video or soon, in person.”
• Antennex raised 1.5 million euros. Antennex is in the arcane business of measuring antennae, but not those big steel cell towers. These antennae are nano-scale emitters on photonic chips.
• TU/e spinout RIFT has raised 11 million euros. RIFT, (Renewable Iron Fuel Technology) started as student team SOLID. Pension investor PGGM (on behalf of Pensioenfonds Zorg en Welzijn), Invest-NL and Oost NL have stepped in as new investors. RIFT is developing a sustainable energy source for industry through the combustion of iron powder.
Co-CEO of Dispatches Europe. A former military reporter, I'm a serial expat who has lived in France, Turkey, Germany and the Netherlands.
