Belgian start-ups in Artificial Intelligence

Dumont, Michel and Rayp, Glenn (2025): Belgian start-ups in Artificial Intelligence.

Abstract

We attempt to map out as comprehensively as possible the Belgian companies that offer goods or services with an AI component. The 744 Belgian AI start-ups that we identified (founded since 2010) appear, in comparison with non-AI start-ups, to focus primarily on revenue growth, which is often accompanied by a sharp increase in the number of employees. On the other hand, many of the AI start-ups are not yet profitable, especially those with venture capital. AI start-ups without venture capital are overrepresented in the very small group of the most successful Belgian start-ups, which have high turnover, many employees and are very profitable.

• Item Type: MPRA Paper
• Language: English
• Keywords: Artificiak Intelligence, start-ups, Belgium
• Subjects: D - Microeconomics > D2 - Production and Organizations > D22 - Firm Behavior: Empirical Analysis; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification, and Scope; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L26 - Entrepreneurship; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization ; Manufacturing and Service Industries ; Choice of Technology; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes

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