Hello, and welcome to today's edition of Founders International, where we give you the update on startups and technology from outside of the US.

Here's what we have in store for you today:1. Tech Nation, ecosystem builder in the EU, shuts down2. The new solution to having your bookkeeping done3. Daniel Ek is back in action

Read time: 2 minutes and 29 seconds

Tech Nation Shuts Down

It is time to put some F's to pay your respects.

As much as that is a joke, it is a sad day for the EU startup ecosystem. Tech Nation, one of Europe’s most iconic ecosystem builders, has shut down after more than 10 years in operation.

Formed as a non-profit, Tech Nation received support and most of it's funding through grants and such from the UK government. It recently lost that grant funding, and had to shut down.

Why does this really matter? You may think this is just another non-profit shutting down, something will just absorb its reach and effect, and all will be fine. Not likely the case. The impact Tech Nation had shows in some incredible statistics.

You'll often hear in startups that something like 90% fail within the first two or so years. Well, for the companies that were a part of Tech Nation, over 95% have gone on to grow beyond that. Further, more than a third of all tech unicorns (companies valued at $1b+) and decacorns (companies valued at $10b+) created in the UK have come from a Tech Nation program, raising over £28 billion so far in venture capital and capital markets.

Three other key parts to this:

1. Visas - Tech Nation supported over 6,000 visa applications for the ecosystem, and there will now likely be more delays/hiccups

2. Startup ongoing support - It has supported over 5,000 companies and 13,000 jobs have been created thanks to its intervention. It gave support, resources and networking opportunities for startups and was a strong sign of governmental commitment to supporting the startup community. Not so much anymore

3. Spotlight - Tech Nation helped spotlight the UK, and London specifically as a key place and strong industry for startups. Without them to spotlight, focus may decline in the region.

Well, what's next then?

It's pretty uncertain, tbh. London and the UK are a main place of business, and the demand isn't likely to go away for the region. It still is home to powerhouse startups and some of the fastest growing companies, but, there is a new hole that will need to be filled. How that will be done? We'll come to find out hopefully soon.

A new bookkeeping solution for the self-employed may be here soon

Hnry, a New Zealand fintech startup just raised a $35 million Series B to begin to expand globally.

Hnry provides accounting and tax automation for freelancers and contractors, all in one place. Consider it Quickbooks, but on them steroids.

With Hnry, you are able to invoice customers, automatically collect, calculate, and pay income tax/GST/ACC levies/student loans. Yes, that means if you were a sole proprietor in the US, this company would automatically pay your sales tax for you, your income tax, any insurance/coverage for workers, and any debt that you have, all from a single invoice.

Why would this be powerful? Well in the US just at the company I work for, we use Gusto which calculates and withholds our income tax as FTE's, to collect and remit sales tax you would need a mixture of registering with the state/a company like TaxJar/mailing. For coverage you have separate insurance charges through whoever you do insurance through, and for student loans that is taken out after you have paid your income tax, and that you have to set up through one of the many places you could owe your loans.

For many businesses, it's also likely that all these things are set up through 4 different places.

And if Hnry was able to set up fully in the US, you would be able to manage this, and much more (they can even file taxes, manage business expenses, and can allocate savings), all in one place. Absolutely crazy.

Daniel Ek is taking another shot

Daniel Ek, most commonly known for being the founder of Spotify (you know, nothing crazy), is going at it again with his new company, Neko Health.

Based out of Ek's home country, Sweden, Neko Health is trying to use the latest advancements in AI to render a full body scan aimed at helping patients address both current and potential future health concerns

What does that really mean? Neko Health wants to be able to scan your body, analyze all the data, compare that to other people and other data points, and help you predict what may be happening/what's going to happen with your body.

This has reportedly been in research and development for four years all centered around how they can have this change the healthcare system which usually is reactive (you only go in when you're sick), to being focused on prevention and early detection.

How will they do this? They are developing their own body scan machine that can look at, and take note of all the points of data that they need in order to read and monitor your body. Each time you go back and do this scan, it will only make it better for you as the monitor will be able to read trends, and how your body is progressing.

They also will do blood tests and cardiovascular tests, giving you a full view of the state of your body, inside and out. After that, they'll provide a report, and consultation on how to move forward to be at your best health-wise.

Right now, the scans are sold out/fully booked, but will reportedly go for about $190 USD (2,000 SEK).

But Daniel? What if I have been eating my apples? Do I still need to get my scan?

And that's all for today, if you want to get more follow us @Founders_Intl, or respond to this email. Yes, we respond to all emails, including yours. Try us.

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💯 Freaking sick dude🤷‍♂️ Meh, do better next time😑 Bruh, I might unsubscribe after reading that