A working paper published by researchers from the Illinois Institute of Technology and the University of Maryland found European startups have received less funding than their U.S. counterparts since the EU General Data Protection Regulation went into effect, Bloomberg Opinion reports. The researchers took data from Crunchbase published between July 2017 and September 2018. The paper states EU and U.S. startups had similar investment numbers until May 2018, when EU investments started to drop. The researchers discovered there has been a 17.6 percent decrease in weekly venture deals in the EU since the GDPR implementation date and a 39.6 percent decrease in the amount of money raised in an average deal.
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