What Europe's Oldest Companies Can Teach Its Newest Startups

Jan de Vries · 2026-08-11

Europe loves founder stories. We celebrate the courage it takes to build something from nothing, challenge established industries, and create entirely new markets. Rightly so. Europe needs more ambitious founders willing to build the companies of tomorrow. Like many people in the investment and startup ecosystem, I have long associated entrepreneurship with the act of founding a company. But while interviewing Maximilian J. Riedel, President & CEO of the wine glassmaker RIEDEL, and a member of the family's eleventh generation, I began to wonder whether that definition is too narrow. What if entrepreneurship doesn't end with the founder? What if it's not a single act, but a continuous mindset that can be passed down and reinvented? ### The Hidden Pattern Behind Enduring Companies One observation has surfaced repeatedly in my conversations with founders, investors, executives, and multi-generational family business leaders across Europe: the companies that endure for generations are not those that choose between tradition and innovation. They are the ones that continually balance both. Each generation preserves the company's core identity while reinventing how it creates value in a changing world. This isn't just a nice theory—it's a survival strategy. Researchers describe this phenomenon as "transgenerational entrepreneurship": the ability to create entrepreneurial value across generations. While well established within family business research, the concept has received far less attention within the startup ecosystem. It deserves a place in today's startup conversation. ### The RIEDEL Story: A 270-Year Case Study Few companies illustrate this better than RIEDEL. Founded in 1756, the Austrian glassmaker has reinvented itself repeatedly over 270 years. After losing its Bohemian factories, property, and assets following the Second World War, the family rebuilt the company in Austria. Later generations, however, did not simply preserve what had been created. Claus J. Riedel revolutionised wine glass design through functional, wine-friendly stemware. Georg J. Riedel later expanded the business internationally and developed grape-varietal-specific glassware for machine production. Today, Maximilian J. Riedel continues to evolve both the business and the brand for a new generation of consumers. Looking at RIEDEL's history, it becomes difficult to argue that entrepreneurship belonged only to the founder. Every generation inherited the same company, but none inherited the same world. Changing markets, new technologies, and evolving consumer expectations demanded fresh thinking each time. What endured was not the original entrepreneurial act, but a repeated willingness to reinvent the company while remaining true to its purpose. ### What Today's Founders Can Actually Learn That may be one of the most useful lessons for today's founders. We often define entrepreneurship as the act of starting a company. But perhaps it is better understood as the ability to continually reinvent how a company creates value as the world changes. Founding a company may be only the first entrepreneurial act. Here's what this means in practical terms for startups: - **Build adaptability into your culture** from day one, not as an afterthought - **Separate your core purpose** from your current products or services - **Encourage generational thinking**—even if you don't plan to hand the business to family - **Treat every major market shift** as an opportunity to reinvent, not just a threat Today's founders are building businesses in an era of extraordinary technological change. Few can confidently predict what their markets will look like even five years from now. History suggests that the companies most likely to endure are not necessarily those that predict every shift correctly, but those that develop the capacity to adapt when change arrives. ### The Shared Challenge Between Startups and Legacy Companies In that sense, startups and companies like RIEDEL face the same fundamental challenge. Neither can rely on yesterday's success. Both must remain entrepreneurial long after their original business model has proven itself. Europe spends considerable time discussing how to create more startups, more scale-ups, and more globally competitive companies. Those conversations are essential. But perhaps we are overlooking another competitive advantage. Across Europe are entrepreneurial families and long-established companies that have spent generations navigating disruption, adapting to technological change, and reinventing their business models. These aren't just heritage brands—they're living laboratories of resilience. ### A New Definition of Success So what if we redefined entrepreneurship to include not just the act of founding, but the continuous act of reinventing? That shift in perspective could change how we mentor founders, how we measure startup success, and how we build companies that are built to last. The next time you're building your startup, ask yourself: Am I just building a company, or am I building a company that can reinvent itself for generations to come? The answer might just determine whether your startup becomes a footnote or a legacy.