The European economy had a difficult year in 2019. It started with our concerns about the effect of the General Data Protection Regulation (GDPR) across the EU. We wondered if this would prove to be a severe blow to the economy, only to go relatively unnoticed.
Then there were these endless discussions about the UK leaving – and not leaving simultaneously – the European Union, which finally ended when Brexit was finalized on January 31, 2020. Although we have still need to see the actual results of these processes by the end of this year, we can say that the hindered process has not done any good to the EU economy.
Even harder 2020
And we haven’t even started talking about the start of this year. On the one hand, of course, the United States finally reached an agreement with China in its trade war, but everything went south when a new epidemic broke out in a Chinese city of Wuhan. The COVID-19 virus, also known as Coronavirus, has spread around the world in a short time and has infected nearly 1.5 million people.
It goes without saying that the global economy and the European economy suffered from panic. For this reason, the creation of a new start-up in the EU will be even more meticulous and difficult than before, and before there were many binding directives concerning the environment, data protection, and many other.
But that doesn’t mean that new startups have no chance of establishing themselves on the EU market. To demonstrate this point, let’s take a look at the first 3 European startups which should have an interesting year 2020.
LottoStarlet – traditional and innovative lottery in one place
The lottery has existed in the iGaming sector for a very long time. In fact, the word and the iGaming industry weren’t even designed when people enjoyed the game in their neighborhoods. So how did LottoStarlet, an iGaming company based in Malta, manage to turn a basic lottery game into a niche product?
Well, the first thing he did was bring together some of the brightest minds in the gaming industry who built some of the apps from Spinia Österreich, as well as other brands of European carriers, and used their expertise to build a unique line lottery experience.
And to finally get the best iGaming experience, LottoStarlet uses some of the most innovative techniques available on the market. As the company notes, “The lottery market is mature but lacks innovation”, that is their main objective: to combine existing know-how in the lottery sector and mix it with new technologies.
UFO Drive – Rent an electric car
Like lotteries, there is nothing new in a car rental company, especially in the EU. There are a lot of companies operating in this field and it is quite difficult to somehow distinguish yourself as another player. But UFO Drive, a start-up with offices in Germany, the Netherlands, the United Kingdom and many other European countries, has managed to do just that.
Unlike an awkward and outdated website that rents regular gasoline cars, which has become commonplace in this business, the UFO Drive website is a modern looking platform that allows customers to get an electric car from their dreams.
Take a look at their selection of cars and you will be bombarded by various manufacturers like Tesla (model 3, model S), Jaguar I-Pace and many others. And this year, the company plans to expand into the rest of the continent, extending sustainable driving across Europe.
Loquo Foods – Plant cheese
The world is becoming more and more eco-conscious. Each year, we see startups and innovative individuals finding new ways to replace our current meat diet with environmentally friendly products. In this sense, 2019 has been a great year with companies like Beyond Meat and Impossible Foods which have reached incredible market shares.
2020 has already been a successful year for a Stockholm-based company called Noquo Foods. At the start of this year, the company was able to raise some 3.3 million euros in its attempt to create the first herbal cheese. It’s true: being vegan and environmentally conscious doesn’t mean people have to sacrifice probably the biggest dairy phenomenon – cheese.
Even if the startup is still in the laboratory phase, the outlook looks pretty good. As scientists predict, by 2023 we will likely see the global dairy market share reach nearly $ 600 billion, where non-traditional products will be featured.