Despite recent claims that European startups aren’t working hard enough, new research shows the continent’s founders are putting in serious shifts to turn their ideas into successful businesses.
A survey of 128 founders by early-stage VC firm Antler found that three-quarters of them work more than 60 hours weekly, with 19% exceeding 80 hours.
German founders emerged as Europe’s hardest workers, with 94% working more than 60 hours weekly and 38% exceeding 80 hours.
Daria Stepanova, co-founder of German startup AIRMO, said she’s sacrificed “time, stability, and relationships” to grow her company. However, she sees a certain level of obsession is a good thing. Otherwise, “what you’re building probably isn’t worth building.”
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Swedish entrepreneurs followed closely behind. While UK founders were still working long hours, they were least likely to cross the 80-hour threshold, with only 10% doing so.
Over 70% describe building their company as “easily the hardest thing they have ever done.” Yet nearly all (98%) remain passionate about their career choice.
That’s despite feeling underappreciated for their hard work. Nearly three-quarters (73%) of European founders feel their dedication goes unacknowledged.
“In Europe, you are more likely to be an Olympic medalist than the founder of a unicorn company,” said Alan Poensgen, a partner at Antler. “Whilst both require similar levels of ambition, resilience, and endurance, founders don’t get the same level of recognition.”
What’s motivating founders?
The survey paints a picture of founders driven more by impact than income. Only 4% cited financial reward as their primary motivation, with the majority instead pointing to creating innovation (27%), positive global impact (22%), and proving they can tackle difficult challenges (19%).
This commitment comes at a cost. Founders identified their biggest sacrifices as work-life balance (61%) and salary reduction (36%). Family concerns add another layer of pressure, with 62% reporting that relatives expressed confusion about their decision to leave stable careers.
What keeps these ambitious entrepreneurs awake at night? Execution speed (40%), customer acquisition (24%), and runway concerns (18%) top the list of worries — reflecting the intense pressure to deliver results with limited resources and time.
The findings come amid a growing debate in European tech over whether workplace culture is holding the region back compared to the US or China.
In a podcast interview last month, Revolut boss Nik Storonsky criticised European startup entrepreneurs, saying they weren’t working hard enough and valued work-life balance too highly. Those comments followed a lively social media debate earlier this year about whether French founders lacked the “grindset” to succeed.
However, Antler’s findings challenge the notion that European founders prioritise balance over hustle — suggesting that behind the continent’s startup scene is a culture of quiet, often overlooked, hard work.
“People often see the headlines but not the sleepless nights or personal risks behind them,” said Danyal Oezdeuzenciler, co-founder of London-based Capsa AI. “Founders pour so much into an idea — financially, emotionally, mentally — and the resilience it takes is pretty extraordinary.”
Startup founders from all over Europe are heading to Amsterdam for TNW Conference, which takes place on June 19-20. Tickets for the event are now on sale. Use the code TNWXMEDIA2025 at the check-out to get 30% off the price tag.