Analysis: Media Coverage vs. Investment Raised

At the end of last year, I decided to look at where Europe's tech media divided it's focus in terms of coverage per Country by taking every article from TechCrunch, The Next Web and and tagging it by Country of origin of the startup in the story, with Finland and Sweden both represented in the top 5 Countries covered.


The main piece of feedback I got above all others was to plot the funding per Country against the media coverage it received. However, as all of the major analysis players on the European scene had conflicting figures and data I was a little wary of doing this, as I couldn't be certain of its accuracy. 

However, I of course have accurate data on The Nordics funding, so I thought it would be interesting to finally do this.

What follows is a comparison of what percentage each Nordic Country received in terms of the money that came into the region compared with the percentage each Country received in terms of coverage that focused on the region.


As you can see, there are several notable differences between what each Country is raising in terms of investment compared to the coverage they are receiving, but what are the biggest differences?

Despite Sweden's dominance in funding over all of the other Countries, Europe's tech media gives considerably more attention to Finland, with Denmark also underrepresented in terms of funding activity vs. coverage. Norway received around the appropriate amount using this measurement, while Iceland received no coverage but took 1.49% of the money coming into the region.  

A lot of the Finnish coverage was generated around Slush, with Finnish startups using the event to launch or announce big news, which shows you the impact Slush has for the Country. It will be interesting to see if Sweden gets more coverage this year (my feeling is that it already has) as the activity there is relentless right now, so we will surely see this convert into more International media attention, while Denmark should also see more due to an increase in funding and exits in the last couple of years. Norway is hosting Startup Extreme for the first time this year and it will be interesting to see the effect this has on coverage on Norwegian Startups, if it only has a percentage of the impact that Slush has had for Finland then the organisers will have succeeded. Finally, with Iceland gaining three new funds, we will surely see more investment this year, and subsequently more coverage. 

I will be conducting the same analysis this year and these factors should ensure we see more of a balance in 2015 and perhaps one more representative of the funding activity in the region.


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