More than 120 founders in Antler’s European portfolio – 25% of which were based in the UK – shared insights into what it really takes to be a tech founder. 

More than half of UK founders (54%) said this was the hardest thing they’ve ever done. Interestingly, this was the lowest figure in Europe, where 72% said being a founder was the biggest challenge they had faced. 

Salary (38%), work-life balance (29%), and time for themselves (19%) were identified as the biggest sacrifices founders have made to dedicate themselves to their startups. 

Seventy-seven percent of the founders involved in the study reported working 60+ hours a week, with 10% routinely clocking more than 80 hours a week. This is in direct contrast to the debate about European founders not working as hard as their American counterparts.

Not executing quickly enough (32%), not attracting and retaining customers (32%), and financial runway (29%) were the biggest worries that keep UK founders up at night.

In fact, 52% of British founders said their families had expressed concern and confusion about their decision to leave successful careers to build their own companies – more than anywhere else in Europe.

However, despite these challenges and the impact on their lives, a staggering 100% of founders said they love doing what they do and felt rewarded by their career choice.

Giving an insight into the ‘outlier mindset’ required to build category-defining tech companies, only 6% of founders building in the UK said they were motivated by financial reward. Instead, creating real innovation (32%) and proving they can do something challenging (26%) were the biggest drivers and motivators for UK founders. Having a positive impact on the world was a strong motivating factor for founders across Europe, but only 10% of UK founders said it was a priority for them.

In the US, tech founders are celebrated in Hollywood films and invited into the White House. In contrast, 81% of UK founders feel their dedication goes unrecognised –significantly above the European average.

Adam French, Partner at Antler, comments: “In the UK and across Europe, you’re more likely to win an Olympic medal than build a unicorn. Yet both demand extraordinary ambition, resilience, and endurance. Founders deserve the same level of recognition and support for the impact they have on our economy, job creation and innovation. It’s time we start celebrating them.”