2019美国科创企业展望英文版_14页_1005kb

报告摘要

US Startup Outlook 2019 Summary

Core Content

The Startup Outlook 2019 report, published by Silicon Valley Bank (SVB), provides insights into the current and future state of the US startup ecosystem. It highlights the challenges and opportunities faced by technology and healthcare founders and executives across major innovation hubs in the US, the UK, China, and Canada.

Main Points and Key Insights

1. Optimism Amid Uncertainty

60% of US entrepreneurs expect business conditions to improve in 2019 compared to 2018.
9% believe conditions will worsen, showing a slight increase from previous years.
Startups remain optimistic thinkers but are also realistic about challenges such as hiring, exits, and geopolitical issues like US-China trade tensions and Brexit.

2. Capital Raising Trends

71% of US startups successfully raised capital in 2018.
25% of these startups say the current fundraising environment is not challenging.
VCs and private equity firms are investing in larger rounds but focusing on high-performing startups.
Pre-revenue companies and those with smaller revenue streams find capital raising more challenging.

3. Funding Sources

50% of US startups expect their next funding source to be venture capital, consistent over the past three years.
17% expect to seek small or individual investors.
Other funding sources include bank debt, IPOs, mergers, government grants, ICOs, and crowdfunding, which collectively represent 10% of funding sources in 2019.

4. Exit Strategies

Acquisition remains the most realistic long-term goal for US startups, with more than half of them citing this as their exit strategy.
IPOs are also a focus, though fewer than expected.
29% of startups say it is extremely challenging to find the right talent for growth, while 62% find it somewhat challenging.

5. Talent Challenges

Startups are most in need of filling product development/R&D, sales, and technical positions.
Access to talent is the top public policy concern for US startups.
Healthcare costs, cybersecurity, and consumer privacy are also significant concerns.

6. Gender Diversity in Leadership

37% of US startups have at least one woman on their board of directors, the highest since 2015.
53% have at least one woman in an executive position, an increase of 10 percentage points from the previous year.
SVB plans to publish an in-depth report on Women in Technology Leadership in H1 2019.

7. Technological Outlook

AI and big data are seen as the most promising technologies today.
Looking ahead a decade, autonomous transportation is expected to be the most promising sector, following AI.

8. M&A Activity

90% of US startups believe M&A activity will remain stable or increase in 2019.
With plentiful capital, many corporations, private equity funds, and scaling companies are well-positioned to make acquisitions.

9. Trade Policy Concerns

50% of US startups are concerned about the impact of US-China trade policy on their businesses.
Two-thirds of Chinese startups also express concern about negative trade impacts.

Conclusion

The Startup Outlook 2019 report underscores the resilience and adaptability of startups despite macroeconomic and geopolitical uncertainties. While optimism is prevalent, realistic challenges such as talent acquisition, capital raising, and trade policy remain central to the startup landscape. The report also highlights positive trends in gender diversity and technological innovation, suggesting a dynamic and evolving ecosystem that continues to drive the innovation economy forward.