Occurrency case study
An in-depth report on the DLT-based companies of Berlin
The promotion campaign for this report included mass marketing on LinkedIn, Twitter and AdWords.
Contents of the report will be briefly presented below.
With Bitcoin deemed as a “legal currency” for trading and tax purposes since 2013 and 0% tax on payment made in cryptocurrency, Germany has grown into one of Europe’s most dynamic crypto communities in the past 5 years.
Berlin, in particular, has the highest number of DLT-based companies. And since part of the Occurrency team is headquartered in Berlin, we thought it would be best to begin our research with the city we knew inside out. And that’s exactly what we did.
With 50+ Blockchain startups founded between 2017 and 2018 and 30+ international investors and VC companies investing in the space, we spotted the city of Berlin to be a safe haven for early-stage entrepreneurs eager to get into Blockchain.
The story of a hundred blockchain companies
In the initial stages of our research, we found 102 companies in Berlin were tackling at least one form of DLT-based technology. To our surprise, after digging a little deeper 10 of the companies we tried to contact had relocated to a different jurisdiction, whereas 7 companies ceased all operations for reasons that remain unknown.
Occurrency dedicated 6 months to interview CEOs, founders, marketers, and PR people to learn about their business models & unique value proposition but also about their pain points when working with DLT technologies. Following a thorough analysis we were left with 85 active DLT-based companies; each with its own strategy and methodology to break through a rather new and challenging industry. The complete list can be viewed in our report.
Berlin’s DLT-based companies in numbers
Between 2015 and 2018, Berlin’s DLT-based companies, including DLTs that had an ICO, raised a total of 517.8M EUR. With over 700 tech companies active in industries like FinTech, Big Data, and Artificial Intelligence, software development is one of the top industries being disrupted by at least one type of distributed ledger technology.
In terms of numbers, 40 of the 85 companies researched by Occurrency didn’t get any form of investment since inception. This could only mean that they’re bootstrapped or self-funded. Following the updated edition of our “Who’s who in blockchain in Berlin” this December, we will have a second look at our list of companies. The purpose will be to analyze their progress and assess what they’ve done with the money raised, and whether or not they’ve launched/improved upon their product, got more customers, etc.
The report can be purchased here.