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Hi Sifted Reader,

Next week the Sifted team hit the road again for our second Sifted Sessions event, this time in Vienna. Don’t miss us on June 2 as we dive into everything to do with startup and corporate relationships — sign up here for free!

And from Sifted’s newsroom today we bring you the latest on what Europe’s startups are doing to help their employees through the cost of living crisis. Plus…

• What startup fundraising for ethnic minority founders is really like
• Startup founders: pay yourselves!
• The European startups hiring during the downturn

— Sophie, editorial assistant & Tom, digital editor

Before concerns over inflation began to swell in Europe, startups were already fighting tooth and nail to secure the best hires. 

Now with a looming recession and the impact the cost of living is set to have on employees, startups are once again figuring out how to adjust compensation to support employees.

So what should founders do?

This is your last week to enter the Amazon Launchpad Innovation Awards, a free-to-enter competition supporting emerging European startups creating cutting edge consumer products. If your startup is registered in the EEA, UK or Switzerland, apply for the chance to win money — and much more.

Entries close 29 May — learn more here. 

Ethnic minority founders still face significant barriers when it comes to launching and growing a startup — whether that’s struggling to obtain funding from VCs or a lack of role models.

We talked to four tech entrepreneurs about the challenges they’ve faced, what needs to change and what tips they’d give to other minority founders.

Here’s what they said. 

Traditionally, founders have avoided paying themselves a fair salary to keep costs low and attract investors.

But the idea of scraping by while you bootstrap your startup might be little more than a myth that’s holding founders back.

So what should founders pay themselves? And why does it matter?

Are you looking to relocate your startup? Well, Latvia might be the place for you. 

The country recently birthed its first unicorn, is home to more than 160 fintechs and has been named the most startup friendly country in the world. 

So why is it a founder’s dream?

Hiring freezes and startup layoffs have already hit the US, and operators in Europe are wondering how the trend is set to impact startups on the continent.  

But the combination of economic slowdown, rising inflation and a potential interest rate spike doesn't have everyone pulling up the drawbridge. 

So who’s still hiring in Europe?

After a prolonged period of lofty startup valuations and free-flowing VC money, the market is turning. Europe is facing record inflation and the threat of rising interest rates, tech stocks on both sides of the Atlantic have plummeted and investors are questioning how and when they’ll see returns. 

Add to that the potential for layoffs and hiring freezes and things don’t look great for Europe’s startups. Here’s the latest from Sifted on the market slowdown:

🔥 Sifted cofounder John Thornhill explains the impact the tech stock crash will have on Europe’s startups. 

💰 Sifted’s reporter Tim Smith brings you the latest on European startup valuations.

🙏 Founder and CEO of TheVentureCity Laura González-Estéfani tells founders how they can ride out the bumpy market.

Elsewhere...

🧠 From nose wearables to brain implants: 11 tech for good startups and scaleups to watch (In partnership with HAYS Technology).

🤔 Are managers at startups actually any good? Let us know your experience of good and bad managers in this short survey — we’ll share the results soon.

Say hello to the new Series A | Online | May 25

Series A round sizes have ballooned, but why? More importantly, how can founders get the big bucks? We’ll reveal what founders need to know to raise their next round on May 25. Sign up here.

Vienna waits for you | Vienna, Austria | June 2

Get ready for a special Sifted Sessions, in partnership with ViennaUP. Expect lively panels, candid conversation and intimate networking opportunities that will explore what makes startups thrive — and how to apply these lessons to your own business. What are you waiting for? It's free!

A sale as old as time | Online | June 8

On June 8, we explore how tech is starting to ruffle a few feathers in the competition to be revenue king. But who will come out on top? It’s product vs. sales, a showdown you won’t want to miss. RSVP.

Sophie Zhang

Editorial Assistant

Get in touch with them at sophiezhang@sifted.eu

Tom Nugent

Digital Editor 

Get in touch with him at tomnugent@sifted.eu
Or tweeting at @TJNugent92

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