Antler, the world’s most active early-stage VC, surveyed 128 founders across its European portfolio to uncover the real cost of startup life. The findings? A stark contrast to the glossy pitch-deck narratives and mythologised Silicon Valley stories.

All In, All the Time

Three-quarters of founders (72%) said building a startup is the hardest thing they’ve ever done. The majority (75%) work over 60 hours a week, with one in five (19%) pushing past the 80-hour mark.

German and Swedish founders top the hustle leaderboard—94% and 80% respectively clock more than 60 hours a week. A remarkable 38% of German founders work beyond 80 hours. UK founders, while still putting in the hours, reported the lowest share working 80+ hours (10%).

Yet despite the grind, 98% of those surveyed say they love what they do.

The Sacrifices No One Sees

Every founder surveyed has made sacrifices. Time with family (61%) and steady paycheques (36%) topped the list. Nearly two-thirds (62%) said their families were confused—or outright concerned—about their decision to leave stable careers to dive into entrepreneurship.

And while most founders signed up for the challenge, the toll it takes is real. Sleep-deprived and revenue-stressed, founders lie awake at night worrying about execution speed (40%), customer growth (24%), and runway (18%).

Purpose Over Payday

Forget the cliché of chasing unicorn riches. Only 4% of founders said money was their primary motivator. Instead, it's about building something meaningful:

  • 27% want to create real innovation

  • 22% aim to have a positive global impact

  • 19% are simply driven to prove they can do something extraordinary

Recognition Gap

Here’s the kicker: 73% of European founders don’t feel recognised for their dedication. While US founders get the Hollywood treatment—and the occasional White House invite—European entrepreneurs often operate in the shadows.

Alan Poensgen, Partner at Antler, thinks it’s time that changed.

“In Europe, you’re more likely to be an Olympic medalist than the founder of a unicorn company. Both demand ambition, resilience and endurance, but founders rarely receive the same recognition. We expect them to live ‘normal’ lives while achieving the extraordinary.”

“It’s time to shift perceptions of what it truly takes to build a company from scratch—and to celebrate these outliers for the impact they’re creating.”

As a new generation of tech founders rises across Europe, it’s clear that the startup path is less startup-cliché and more endurance sport. And yet, they keep showing up—driven by purpose, challenge, and the thrill of building the future.

Survey conducted in March 2025 with 128 early-stage founders (pre-seed to Series A) across the UK, Germany, Netherlands, France, Sweden, Denmark, Norway, and Finland.