Despite recent claims that European startups aren’t working hard enough, new research shows the continent’s founders are putting in serious shifts to turn their ideas into successful businesses.

A survey of 128 founders by early-stage VC firm Antler found that three-quarters of them work more than 60 hours weekly, with 19% exceeding 80 hours. 

German founders emerged as Europe’s hardest workers, with 94% working more than 60 hours weekly and 38% exceeding 80 hours. 

Daria Stepanova, co-founder of German startup AIRMO, said she’s sacrificed “time, stability, and relationships” to grow her company. However, she sees a certain level of obsession is a good thing. Otherwise, “what you’re building probably isn’t worth building.”

Swedish entrepreneurs followed closely behind. While UK founders were still working long hours, they were least likely to cross the 80-hour threshold, with only 10% doing so.

Over 70% describe building their company as “easily the hardest thing they have ever done.” Yet nearly all (98%) remain passionate about their career choice. 

That’s despite feeling underappreciated for their hard work. Nearly three-quarters (73%) of European founders feel their dedication goes unacknowledged. 

“In Europe, you are more likely to be an Olympic medalist than the founder of a unicorn company,” said Alan Poensgen, a partner at Antler. “Whilst both require similar levels of ambition, resilience, and endurance, founders don’t get the same level of recognition.”

What’s motivating founders?

The survey paints a picture of founders driven more by impact than income. Only 4% cited financial reward as their primary motivation, with the majority instead pointing to creating innovation (27%), positive global impact (22%), and proving they can tackle difficult challenges (19%).

This commitment comes at a cost. Founders identified their biggest sacrifices as work-life balance (61%) and salary reduction (36%). Family concerns add another layer of pressure, with 62% reporting that relatives expressed confusion about their decision to leave stable careers. 

What keeps these ambitious entrepreneurs awake at night? Execution speed (40%), customer acquisition (24%), and runway concerns (18%) top the list of worries — reflecting the intense pressure to deliver results with limited resources and time.

The findings come amid a growing debate in European tech over whether workplace culture is holding the region back compared to the US or China. 

In a podcast interview last month, Revolut boss Nik Storonsky criticised European startup entrepreneurs, saying they weren’t working hard enough and valued work-life balance too highly. Those comments followed a lively social media debate earlier this year about whether French founders lacked the “grindset” to succeed.  

However, Antler’s findings challenge the notion that European founders prioritise balance over hustle — suggesting that behind the continent’s startup scene is a culture of quiet, often overlooked, hard work. 

“People often see the headlines but not the sleepless nights or personal risks behind them,” said Danyal Oezdeuzenciler, co-founder of London-based Capsa AI. “Founders pour so much into an idea — financially, emotionally, mentally — and the resilience it takes is pretty extraordinary.”

Startup founders from all over Europe are heading to Amsterdam for TNW Conference, which takes place on June 19-20. Tickets for the event are now on sale. Use the code TNWXMEDIA2025 at the check-out to get 30% off the price tag.