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Dutch Prime Minister Vows Support for Tech Startups Amid Slowing Growth

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Dutch Prime Minister Dick Schoof announced plans to strengthen the Netherlands’ technical startup sector, aiming to attract more venture capital following industry concerns about slowing growth.

Speaking at TechLeap’s annual event in The Hague on Wednesday, Schoof highlighted his government’s intention to cut regulatory red tape and increase investments in artificial intelligence. However, he did not provide specific details on the proposed measures.

“The alarming thought, of course, is that as Europe, we are let down, and we cannot keep up with the United States and China. We have to do something about it,” Schoof emphasized. “We have to make sure that … we create an environment in which venture capital is going to invest.”

The Dutch economy, particularly reliant on chip equipment manufacturing and home to ASML—the world’s largest chip equipment maker—has benefited significantly from the technical startup ecosystem concentrated in Eindhoven. The city has helped bolster the economy amid economic challenges in neighboring Germany.

TechLeap’s latest research indicated that venture capital investments in Dutch startups rose by 47% to 3.1 billion euros in 2024, positioning the Netherlands as the fourth-largest market in Europe behind Britain, Germany, and France. However, the U.S. remained far ahead, with $190 billion in investments according to DealRoom data.

Despite the rise in overall venture capital, the number of Dutch startups receiving significant funding declined, with only 104 companies securing investments of over 100,000 euros in 2024, down from 172 in 2023. The majority of this funding came from foreign investors.

Two Dutch companies achieved unicorn status in 2024, attaining private market valuations exceeding 1 billion euros. These firms were Mews, a hotel software developer, and DataSnipper, which uses AI to automate auditing functions.

Dutch Privacy Watchdog to Investigate China’s DeepSeek AI Over Data Concerns

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The Netherlands’ privacy watchdog, the Autoriteit Persoonsgegevens (AP), announced on Friday that it will launch an investigation into the data collection practices of Chinese artificial intelligence company DeepSeek. The AP expressed serious concerns over DeepSeek’s privacy policies, particularly regarding how it handles personal information.

Aleid Wolfsen, Chairman of the AP, warned Dutch users to exercise caution when using DeepSeek’s software, citing the potential risks to privacy. The agency also emphasized that personal data from European citizens can only be stored outside of Europe under strict conditions, which DeepSeek must meet.

This move comes just days after Italy blocked DeepSeek’s app over similar privacy concerns, and both Ireland and France have sought information on the company’s data processing practices. The AP revealed that it is working closely with other European Union regulators to exchange information and coordinate future actions.

 

Netherlands in Talks with Nvidia and AMD for AI Supercomputer Facility

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The Dutch government announced on Thursday that it is in discussions with U.S. semiconductor companies Nvidia and AMD regarding the supply of hardware and technological expertise for a proposed artificial intelligence (AI) supercomputer facility. The initiative is part of broader efforts within the European Union to boost the region’s digital economy and advance AI research.

The Netherlands aims to establish a cutting-edge facility that would play a pivotal role in AI research and development, contributing to the continent’s technological competitiveness. Last year, the Dutch government allocated 204.5 million euros ($210 million) toward AI investments, with plans to leverage European Union subsidies as well.

Dutch Economy Minister Dirk Beljaarts noted that discussions with Nvidia and AMD have strengthened the likelihood of successfully realizing the project. While he did not provide specific details, he emphasized the global competition for AI technology, remarking that “the whole world is after this technology.” The minister indicated that these talks bring the vision of a Dutch AI facility much closer to reality.